1428 ET - The expected relief on automotive tariffs is welcome, but trade policies have already hiked up car prices, says Kevin Roberts, director of economic and market intelligence at CarGurus in emailed remarks. The average price of a new car has increased by about $650 in the months since tariffs on auto imports were announced, Roberts says. Used-car prices are up about $150. Those increases are mainly driven by an immediate surge in demand among car shoppers hoping to avoid tariff-related price bumps. The largest spike in demand has been for lower priced cars, with vehicles under $50,000 showing the highest increase in interest. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 14:28 ET (18:28 GMT)
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