1001 ET - AutoNation reports that new vehicles sales were tracking to be up 5% in 1Q until President Trump kicked off a wave of global tariffs that are expected to drastically inflate car prices, resulting in same-store new vehicle unit sales ultimately jumping 7% year-over-year, CEO Mike Manley says on a call with analysts. "We benefited in March from a pull-in effect as buyers accelerated their planned vehicle purchases to avoid incoming tariffs," the CEO says. That trend continued into April at a moderating pace and, based on current supply, should have sustained momentum into May, Manley says. That should provide some time for automakers and the Trump administration to work out a more clearly defined and negotiated auto tariff structure, he says. (dean.seal@wsj.com)
(END) Dow Jones Newswires
April 25, 2025 10:01 ET (14:01 GMT)
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