SAN DIEGO — It’s been several months since tariffs were announced and implemented, and the auto industry is beginning to see the effects on consumers.
While shopping for cars, there are a few things Mike Seduikis is looking for.
“Performance. Mostly performance plus the radio,” he said.
And rounding out his top three priorities -- the price. Seduikis said he has been searching for a diesel truck for months, comparing prices at different lots. Like many shoppers, he expected prices to spike because of tariffs.
“They’ve gone up, but not as much as I thought that they would. But we still [have to] wait. We’re still in kind of a limbo,” he said.
Industry data shows that in May and June, the new vehicle index dropped by 0.3%, and it remained flat in July.
According to Kelley Blue Book, the average new car price in the U.S. is $48,401, with luxury and full-size SUVs now topping $100,000.
At Honor GMC in National City, managers said their business has improved in recent months.
“We’ve actually have done better than we anticipated,” said Eddie Dyman with Honor GMC. “We’ve seen a significant increase in our lead generation and our foot traffic here.”
Experts say those considering a purchase may want to act soon, as NerdWallet predicts car costs will rise 4%-8% by the end of the year.
This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy
