1322 ET - Tariffs will "definitely" push prices for new cars higher, used-car retailer CarMax's CEO William Nash says on a call with analysts. "As new car prices go up, that will put a bigger spread between late model used and new cars," Nash says. This will eventually drive prices for used cars up as well, given that companies like CarMax will have to deal with increased reconditioning expenses for auto parts, he says. But in the meantime more consumers will look more at used cars as an option, Nash says. CarMax is currently seeing "a lot of interest" in late model used cars, Nash adds. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 10, 2025 13:23 ET (17:23 GMT)
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