6 days ago
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U.S. auto sales are set to rise in the second quarter, aided by sustained demand.
But industry players expect President Donald Trump’s tariffs to pressure prices in the months ahead.
Market research firm Cox Automotive expects U.S. new-vehicle sales volume to climb about 1.7 million units.
This compares to 4.18 million units in the second quarter a year ago.
According to Cox, General Motors is expected to hold its top spot in the quarter, followed by Toyota Motor’s North America unit and Ford.
President Trump’s move to levy tariffs on U.S. auto imports initially pulled forward demand from price-sensitive buyers, but that boost is expected to fade as higher prices take hold.
Cox also expects Tesla to report a near 21 per cent drop in second-quarter vehicle sales from last year.
The tariffs are expected to hit lower-cost imported models, such as Ford’s compact Maverick pickup truck and GM’s affordable Chevrolet Trax crossover, denting affordability concerns as the average new-vehicle price nears US$50,000.
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