It’s unclear exactly how and when prices will start ticking up, but analysts say brands such as Lexus, Toyota, Honda and Subaru are likely to be among the first to face higher costs because they have the smallest stockpiles of cars already in the U.S.
In addition to lifting car prices, economists say the new tariffs will stifle global production and cut into U.S. economic growth at a time when there are already signs of strain. Consumers, who account for roughly 70 percent of the country’s economy, are beginning to pull back in the face of high costs and elevated interest rates. Further price increases could put a freeze on the sale of motor vehicles and parts, which accounted for about 20 percent of the economy’s growth in late 2024.
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