SUV at a Chevrolet dealership in Oshwa.
Rene Johnson | Toronto Star | Getty images
General Motors And other vehicle manufacturers reported a significant increase in the sale of American vehicle in their first quarter, as the motor vehicle industry braces for the effects of President Donald Trump’s auto tariffs set to be effective this week.
GM on Tuesday jumped 16.7% in the sales of the new vehicle as compared to the first quarter of 2024, headed by Cadilac Escalade IQ and Cadilac Odds such as new all-electric vehicles such as the sales in sales, as well as a significant increase in entry-level crossover and full-cys SUVs.
Detroit automakers will greatly help in the sale of overall industry for the first quarter, which seems stronger than expected. Auto analysts had originally estimated sales growth of about 1% or less year-over year.
South korean vehicle manufacturer Hyundai Motor And Kia Motors reported sales benefits of double digits of 10% and 11% respectively compared to the first quarter of 2024. Honda Motor And the benefit of year-on-year for about 1% quarter Toyota motor,
The outlair included Chrysler Parents for the first quarter sale DescendantAbout 12% below a company turnaround plan, and Ford MotorWhich led to a large decline in sales of 1.3% to a large extent due to the previous year’s dissection of its Ford Edge SUV.
The sales results come forward by the order of effective tariffs by Trump this week, including 25% levy on imported vehicles starting on Thursday. The auto industry is also waiting for the possible additional “mutual” tariff announcements that can affect vehicle manufacturers on Wednesday.
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JD Power estimates the sale of strong industry for March last week as consumers flock to the dealership to buy a new vehicle to avoid any possible increase in prices due to tariffs.
“A 13% year-on-year retail growth is particularly strong, which is capable of accelerating purchases to avoid potential tariff-related price growth by consumers,” Thomas King said in a release, Chairman of the Data and Analytics Division at JD Power. “While the condition of tariff remains both liquid and uncertain, the possibility of tariff is already starting to affect the industry.”
Hyundai Motor North America CEO Randy Parker said Hyundai and Genesis brands of South Korean Autometers experienced a significant increase in dealership traffic and sales at the end of the month, with the confirmation of Trump last week that a comprehensive 25% tariff would be effective for vehicles assembled outside the US.
“Last week, and including this previous weekend, was the best weekend ever I saw in a very long time,” he said during a media call on Tuesday. “I have been doing this for a very long, very long. Many people, I think, at the end of this week, to defeat and defeat tariffs.”
This was a similar experience in other vehicle manufacturers like Ford. While the overall sales of the Detroit Automekar experienced a slight decline in the quarter, the automeker reports its retail sale, which excludes the business of its fleet, increased by 5% year -on -year. Ford said retail sales were inspired by an increase of 19% in March.
Ford’s move to end the production of The Edge, which was manufactured in Canada, was unrelated to Trump’s tariff.
The 25% tariff set set to be effective on Thursday is expected to include all the vehicles that have not been made in the White House in the US last week, saying that the tariffs, which will be paid by companies, are expected to result in more than 100 billion dollars of new annual revenue in the US.
According to Cox Automotive, there are major concerns about tariffs about the possibility of high prices capacity on new vehicles along with the earnings of companies, which, according to COX Automotive, are already hovering around $ 48,000.
Hyundai’s Parker said that the company has not yet decided whether it will increase the price of the vehicle due to tariffs, but now it is a great time to buy a vehicle before any possible change.
“We continue to evaluate all the scenarios,” Parker said. “But what I would say to my customers is that like all things in life, tomorrow is never a guarantee. And if you are interested in buying a car, there is a great time to buy a car right now, because as of today, we have not increased prices.”
Hyundai, like most major vehicle manufacturers, produces vehicles in the US, but also imports adequate amounts from outside the country. Hyundai is currently increasing vehicle production at a new multivio-dollar assembly plant in Georgia, including its sibling Kia carmaker.
The automaker said that about 40% of its Hyundai and generation vehicles sold in the US on Tuesday were built in its manufacturing facility in Alabama. That number, the company said, this year will increase in Savannah, Georgia besides metaplant.
S&P global mobility hopes that US light-vehicle sales may migrate between 14.5 million and 15 million units annually in the coming years if tariffs are effective. It compares with about 16 million vehicles sold in 2024.
