U.S. automakers report stellar sales ahead of Trump's tariffs taking effect [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
Automakers sold nearly 1.6 million vehicles in the U.S. in March, up 13.6%. That brought total sales for the first quarter to more than 3.9 million vehicles, Motorintelligence.com said Tuesday. Almost all automakers saw a surge in sales of electric vehicles. What future months hold for the automakers is uncertain. U.S. President Donald Trump announced 25% tariffs on auto imports that go into effect on April 3. The tariffs are set to expand to applicable auto parts in the following weeks, through May 3. The tax hike means automakers could face higher costs and lower sales, though Trump argues that the tariffs will lead to more factories opening in the United States. Auto industry analyst Sam Abuelsamid at Telemetry Insight said expectations were that the March numbers would be higher due to some pre-buying ahead of the imposition of tariffs, although the pre-buying was likely “limited to some degree by affordability and continuing high interest rates.” Here's a look at the lat
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