By Mike Colias
Car-price increases might not be as severe as many analysts predict even if the bevy of tariffs now hitting the auto industry sticks, new research from J.D. Power found.
The firm projects an average price increase by the end of this year of roughly $2,300 per vehicle, a rise of about 5%. That is significantly below some forecasts of U.S. car buyers paying $10,000 or even $20,000 more on some models because of tariffs.
The firm says higher costs from tariffs will affect carmakers unevenly, making it difficult for harder-hit brands to pass along extra expenses to car buyers. Some brands might see their costs go up only 5% or 10%, whereas others face a 25% spike.
"If anyone tries to pass through tariffs at an elevated level, let's call it 10 or 15 percentage points more than their competitors, they will face very large volume declines," Thomas King, J.D. Power's chief product officer, said at a conference Tuesday ahead of the New York auto show this week.
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(END) Dow Jones Newswires
April 15, 2025 17:15 ET (21:15 GMT)
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