Americans Are Buying Fewer Cars
Americans sped up their car shopping in spring as tariffs approached. Now that they’re here, fewer are buying.
Americans sped up their car shopping in spring as tariffs approached. Now that they’re here, fewer are buying.
Most car brands ended May with more inventory than they had at the start, despite tariffs and threats to industry production.
Automakers shipped about 9% fewer cars to the U.S. this May than last, according to a new trade analysis.
Automakers have warned that a shortage of rare earth magnets from China could cause production problems.
A court ruling has paused many of President Donald Trump’s signature tariffs, but it doesn’t halt tariffs raising the prices of new cars.
American and Chinese negotiators have reached a temporary deal to lower tariffs, but it’s unlikely to change car prices.
The Federal Reserve kept interest rates flat yesterday. The central bank is waiting to see the effects of tariffs. Americans may do the same.
Car dealers paid almost 5% more for used cars at auction last month than the month before, a sign of price hikes to come.
Jaguar and Land Rover have resumed importing new cars into the U.S. after pausing shipments over recently imposed tariffs.
A third round of White House tariffs went into effect over the weekend, this one raising the cost of imported auto parts.