• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Saturday, May 31, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Read a ride Cars/SUVs

US car prices surge in April as tariffs spark buyer panic

...new-car prices jump most since 2020

David Ijaseun by David Ijaseun
May 13, 2025
in Cars/SUVs, News
0
US car prices surge in April as tariffs spark buyer panic
1.6k
SHARES
18.2k
VIEWS
Share on FacebookShare on Twitter

New-vehicle prices in the United States surged in April, climbing 2.5% from March as consumers rushed to dealerships to beat expected hikes triggered by new tariffs on imported cars. The increase, reported by Cox Automotive’s Kelley Blue Book, more than doubled the typical March-to-April gain of 1.1% and marks the second-highest monthly rise in a decade, surpassed only by April 2020’s 2.7% jump during pandemic-related factory shutdowns.

For consumers, the price shock is a direct result of the Biden administration’s enforcement of 25% tariffs on vehicle imports from countries including Mexico and Canada. While most automakers have not yet increased list prices, shoppers are still paying more due to demand shifts and local dealer pricing adjustments.

READ ALSO

Toyota transforms RAV4 into all-hybrid SUV starting 2026

BMW reveals next-gen superbike concept with 230hp and carbon winglets

“Even if the sticker doesn’t change, demand-driven pressure is pushing transaction prices up,” said Erin Keating, executive analyst at Cox.

Manufacturers hold steady, but dealers adjust upward

Despite the tariff headwinds, brands like Hyundai, Ford, and Stellantis are offering discounts and promotions to keep buyers engaged. However, Ford has quietly raised prices on select models made in Mexico, such as the Mustang Mach-E, Bronco Sport, and Maverick pickup, by as much as $2,000, according to a dealer notice seen by Reuters last week.

Sales incentives have helped prevent a broader pricing spiral for now. However, Cox reported that those incentives, measured as a percentage of the final sale price, have fallen to their lowest levels since summer 2024.

“There’s still strong support through consumer-incentive programs,” said Todd Szott, a partner at Szott Automotive Group, which operates Ford, Stellantis, and Toyota dealerships in the Detroit metro area. “Pricing is fairly stable at this point.”

Inventory shrinks as demand climbs

Cox Chief Economist Jonathan Smoke said in a recent industry briefing that the number of new cars on U.S. dealer lots is now below 2.6 million units. With sales accelerating and importers trimming shipments, supply could tighten even further, potentially driving prices up again in the coming months.

Paul Zimmermann, co-owner of Matick Automotive Group in Michigan, confirmed growing concerns over thinning inventories. “It’s running healthy right now,” he said, “but we need to make sure there’s no blip in the supply pipeline.”

Used-Car Prices Also On the Rise

The price surge isn’t limited to new cars. Cox’s Manheim Used Vehicle Value Index rose 4.9% in April compared to a year ago, reaching 208.2. Month-over-month, prices climbed 2.7%, indicating strong demand in the secondhand market as well.

Tariffs Could Push Prices Up to 15%

Cox previously estimated that vehicles directly affected by the 25% import tariff could eventually cost 10% to 15% more, while vehicles not subject to full tariffs might see prices increase by around 5%.

Keating noted that major price jumps are unlikely in the short term. However, she warned that automakers may use the summer model-year changeover to quietly adjust prices. “Over time, we might start seeing higher increases,” she added.

Read more on Trump’s 25% car tariff sparks global backlash, raises concerns for U.S. consumers

Tags: car priceCox AutomotiveHeadlineused cars

Related Posts

Toyota transforms RAV4 into all-hybrid SUV starting 2026
Cars/SUVs

Toyota transforms RAV4 into all-hybrid SUV starting 2026

May 31, 2025
BMW reveals next-gen superbike concept with 230hp and carbon winglets
Business

BMW reveals next-gen superbike concept with 230hp and carbon winglets

May 31, 2025
African-Made Cars [source AI
Africa

The rise of African-made cars: Can local automakers take on the global giants?

May 26, 2025
Volvo teams up with Google to pioneer Gemini AI integration in cars
Cars/SUVs

Volvo teams up with Google to pioneer Gemini AI integration in cars

May 24, 2025
Morocco rolls out AI-driven ‘AMANE’ patrol vehicle to boost public safety
Cars/SUVs

Morocco rolls out AI-driven ‘AMANE’ patrol vehicle to boost public safety

May 24, 2025
Nigerian car market
Africa

Nigerians turn to local used cars as FX woes fuel 22% surge in vehicle inspections

May 22, 2025
Next Post
Ferrari confirms first-ever electric vehicle for 2026 Launch

Ferrari confirms first-ever electric vehicle for 2026 Launch

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

An artist’s impression of the United Arab Emirate’s Rashid rover, which was supposed to deploy to the moon. Credit nytimes/Mohammed Bin Rashid Space Center

Space industry takes note as iSpace’s moon landing goes awry

April 28, 2023
Honda hybrid

Honda forecasts 2.8% rise in operating profit for 2024/25

May 10, 2024
Marcia Mayaba and Aicha Evans

Autojournal Africa celebrates women of impact in automotive, aviation, and maritime

March 10, 2025
U.S Airports

Post-pandemic boom: Five U.S. airports that witnessed double-digit traffic growth

January 7, 2025

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Toyota transforms RAV4 into all-hybrid SUV starting 2026
  • BMW reveals next-gen superbike concept with 230hp and carbon winglets
  • Tesla loses ground in Europe as EV rivals surge amid cooling sentiment over Model Y
  • Xiaomi rides high on Q1 boom, profits surge 65%

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In