Latest news with #carprices
Car and Driver
3 days ago
- Automotive
- Car and Driver
Volkswagen Promises Not to Raise Prices Through At Least June
Volkswagen says it won't raise prices on its new cars from now through June. VW says the pricing freeze applies to the company's entire lineup, from the sub-$30K Taos to the $62K-plus For now, Volkswagen is prepared to eat the cost of the current 25 percent tariffs on vehicles imported into the United States. Volkswagen has an important announcement to make: It's not raising new-car prices! At least not until after the month of June. The move comes as most consumers wait with bated breath to find out how much the tariffs implemented by the Trump administration will cause the cost of buying a new car, truck, or SUV to climb. Volkswagen Andi Hedrick | Car and Driver VW says that even though it's spending more money to import certain models, it's willing to eat those costs for the time being. That means it's freezing the MSRP for all of its models, from the entry-level Taos SUV and Jetta sedan to the three-row Atlas SUV and the Microbus-inspired EV. The latter is the brand's most expensive model, with prices that range from about $62K to over $72K. View Exterior Photos Volkswagen Volkswagen also just introduced refreshed versions of the sporty Golf GTI and Golf R, which start at $33,670 and $48,325, respectively. Like the rest of the lineup, their prices are also set in stone through at least June. Eric Stafford Managing Editor, News Eric Stafford's automobile addiction began before he could walk, and it has fueled his passion to write news, reviews, and more for Car and Driver since 2016. His aspiration growing up was to become a millionaire with a Jay Leno–like car collection. Apparently, getting rich is harder than social-media influencers make it seem, so he avoided financial success entirely to become an automotive journalist and drive new cars for a living. After earning a journalism degree at Central Michigan University and working at a daily newspaper, the years of basically burning money on failed project cars and lemon-flavored jalopies finally paid off when Car and Driver hired him. His garage currently includes a 2010 Acura RDX, a manual '97 Chevy Camaro Z/28, and a '90 Honda CRX Si. Read full bio
Daily Mail
4 days ago
- Automotive
- Daily Mail
America's favorite carmaker confirms everyone's worst fears on tariffs
Toyota has a warning for car buyers: popular products are about to get more expensive. Mark Templin, Toyota's chief operating officer for North America, said the company is planning price hikes in response to President Donald Trump's 25 percent tariff on imported vehicles and parts. '[Business is] not sustainable longer term without significant price increases,' he said in a recent event with Ward's Auto. 'And the industry already has an affordability problem.' The comment confirms what consumer advocates have been warning for months: that shoppers should expect to see higher car prices and increasing insurance premiums. Toyota expects to pay $1.3 billion in tariff costs in April and May alone — and it's already forecasting a 20 percent drop in profits for the upcoming year. Templin said the impact won't stop at the dealership. Because the tariff targets imported parts as well as vehicles, service costs for existing Toyota owners are likely to rise too. 'Levies on parts will negatively impact the automotive supply chain and will make repairing vehicles more expensive for customers,' he said. Toyota's pricing update comes as the brand dominates the global auto market. In 2024, the company sold 10.8 million vehicles worldwide, making it the best-selling automaker on the planet. In the US, the RAV4 SUV became the country's top-selling passenger vehicle. Toyota became the most-loved brand in the US this year, according to a study by iseecars. Still, the mood inside the company is cautious. About half of Toyota's US sales come from vehicles assembled outside the country — mostly in Japan, Canada, and Mexico — leaving the brand exposed to a potential price shock. And Toyota is not alone. Toyota's CEO, Koji Sato, has led the company to huge sales heights - the company snatched the crown for world's best-selling automaker Toyota is not alone: other carmakers, including Ford and VW, have announced policy and pricing changes to keep up with the 25 percent tariffs GM's CEO, Mary Barra, warned that the American manufacturer is expecting to pay between $4 billion and $5 billion in tariffs annually. Ford, which builds 80 percent of its vehicle lineup in the US, predicts it'll spend $1 billion. Ford has already announced some price increases on popular models, though the company attributes the increase to design updates rather than tariffs. Templin said the broader problem is structural. 'It's important to understand that supply chains are global,' he said. 'They're complex and they're very fragile.' Recent disruptions to that supply chain also lead to Americans spending a lot more on vehicles. Last year, the average American new vehicle buyer spent more than $48,000 to get a fresh set of wheels. The average financing for that loan gave most US buyers a monthly bill over $700. Those pricing shocks were largely attributed to distribution shocks after port, train, and freight workers rebuilt the supply chain after the pandemic. Meanwhile, drivers were more prone to getting into accidents after the pandemic. Cars, now equipped with increasing safety technology, also became more expensive to repair. These factors also led car insurance rates to skyrocket. In 2019, the average American spent less tha $1,500 a year to insure tha median $38,259 vehicle.
Daily Mail
4 days ago
- Automotive
- Daily Mail
Report: Nissan model eyes US production to escape tariffs
Published: | Updated: The Nissan Sentra was poised to take over as the most affordable new car in the US in 2026. Then came President Donald Trump's tariffs. With the $17,190 Nissan Versa to be discontinued after the 2025 model year, the $21,590 Sentra was on track to become the country's lowest-priced new vehicle. Not anymore. Final assembly of the Sentra takes place in Aguascalientes, Mexico, which makes the sedan vulnerable to Trump's tariffs on foreign-built vehicles. As consumer advocates have repeatedly warned, tariffs will increase car prices — and for budget cars like the Sentra, even a modest bump could push them out of reach for inflation-strained buyers. To get ahead of the potential impact, Nissan is reportedly weighing a shift in production. According to Automotive News, Nissan is reportedly looking into sidestepping some tariffs by shifting Sentra production to its underutilized facility in Canton, Mississippi. Nissan already builds two vehicles — the Altima sedan and Frontier pickup — at the American factory. The report cites a supplier familiar with the matter. When reached for comment, Nissan didn't confirm the shift. 'We regularly evaluate our industrial strategy with supplier partners based on market requirements,' a Nissan spokesperson told 'We've made no changes to our plan.' Even if Sentra production is moved stateside, the car may still be caught in the tariff crossfire. Trump's tariffs include taxes on automotive parts, and Nissan sources many key components — including elements of the powertrain — from its Mexican facilities. The administration's existing tariffs on aluminum and steel could also further inflate the cost of building cars domestically. Michael DeLong, a research and advocacy associate with the Consumer Federation of America, warned that these policies could have broad financial consequences. 'The Trump administration's tariffs are going to increase costs of various steel and other metals and drive up auto costs,' he told 'It's not going to be helpful to consumers. It would make auto costs increase for everyone.' The pressure comes at a time when car prices are already straining American budgets. The average price of a new vehicle in the US hit $48,000 last year, with average monthly payments exceeding $700. There are increasingly few new vehicles that have low prices in the American market. With the death of the Versa, no vehicle will start with a sub $20,000 starting price in the US. Meanwhile, pricing has remained a strong suit for competitors outside the US. Some vehicles that compete with American-made cars on the global market, including China's BYD Seagull, deeply undercut US vehicles on price. The Seagull's base model costs about $7,800. Nissan, with six models priced under $30,000, has maintained a foothold in the American budget segment — but that competitive pricing hasn't translated into strong profits. Its cars, which use dated powertrain parts, have been panned by gearheads as long in the tooth. The Japanese automaker reported a $93.6 million sales loss at the end of 2024, prompting Moody's to downgrade its credit rating to 'junk' status . Nissan had been in merger talks with Honda in order to stay alive. Those negotiations fell apart earlier this year, after the companies couldn't agree on the structure of a new deal.
Yahoo
5 days ago
- Automotive
- Yahoo
Car business ‘really good' amid tariff fluctuations: Ford dealership owner
Tim Hovik, owner of San Tan Ford, joins NewsNation as Ford raises prices on three Mexico-made models — the Bronco Sport, Maverick and Mustang Mach-E — by several thousand dollars. CEO Jim Farley says tariffs are leveling the playing field, while Trump, during a visit to Michigan, claimed the policy will bring back U.S. manufacturing jobs. But car prices are climbing — per Kelley Blue Book, the average new vehicle now costs over $48,000. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Wall Street Journal
5 days ago
- Automotive
- Wall Street Journal
Tariffs Add Fuel to Hot Used-Car Sales
CARLETON, Mich.—Used cars haven't been in such short supply at such high prices since the days of Covid. Dealers had a 43-day supply of used cars at the start of May, the lowest level for this time of year since 2021, according to Cox Automotive, an automotive-service business. The average price of the 50 bestselling used cars in the U.S. has increased each week over the past two months to nearly $29,000, according to Cox Automotive data. That compares with an average of more than $48,000 for a new car.
