Expect San Antonio car dealers to be busy this week
Why it matters: The reality of President Trump's tariffs on imported vehicles and auto parts is sinking in, with the consensus that vehicle prices will go up and the industry's financial outlook will darken.
The latest: A 25% tariff on automakers that do not manufacture cars or car parts in the U.S. is set to take effect Wednesday, per the White House.
What they're saying:"Consumers likely have a narrow window to buy new or used vehicles before prices increase by 10% or more," said Jonathan Smoke, chief economist at Cox Automotive.
Zoom in: San Antonio's Ancira Auto Group saw a 32% increase in sales across its 13 area dealerships last Saturday compared with the Saturday before, vice president April Ancira tells Axios.
Those were mostly people who planned to buy a car this year anyway but moved up their timeline because of the tariffs, Ancira says.
The company will have to hibernate away some of the recent sales boost in anticipation of a hard year later on, she says.
The intrigue: The bump may last a little longer. Ancira now has "1,800 tariff-free cars" that haven't hit dealer lots yet but were already ordered or on their way, Ancira says.
By the numbers: The Yale Budget Lab forecasts vehicle prices will rise 13.5% on average, or about $6,400 on the average new car.
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