Proposed tariffs could raise car prices by up to $10,000 due to global supply chain impacts.

US President-elect Donald Trump's proposed tariffs on imported goods could lead to higher car prices due to the complex global supply chain in the automotive industry. Experts predict that while carmakers and dealers might absorb some of the costs, prices could rise by $1,750 to $10,000 per vehicle. However, the average transaction price for new cars in 2025 is expected to remain stable, between $47,000 and $48,000, with more incentives for buyers.

December 21, 2024
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