1357 ET - New-vehicle shoppers were out in force early in April, likely motivated by concerns about tariffs and future higher prices, Cox Automotive says. April's seasonally adjusted annual rate, forecasted by Cox Automotive to reach approximately 16.4 million, would be the best in that month since 2021. "Concerns about potential future vehicle prices due to tariffs led to a surge in March sales, and April began with similar robustness. However, inventory levels have declined substantially over recent weeks, likely pushing vehicle prices higher, so the end of April may not be as strong," says Charlie Chesbrough, senior economist at Cox Automotive in a press release. Chesbrough adds, "With economic concerns rising and consumer confidence declining, the outlook for new auto sales from here is more troubling." (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
April 23, 2025 13:57 ET (17:57 GMT)
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