Research from the Anderson Economic Group says tariffs will likely add $2,000 to $5,000 to the cost of the least expensive American cars, and approaching $20,000 for some imported models. CEO Patrick Anderson’s advice is to buy now.
“Vehicles that are on the lots now are almost all tariff-free,” Anderson said. “So as we’ve been advising consumers now for months, if you see a vehicle and it’s in your budget and you want it, I would be buying it right now. But soon, the vehicles that are going to be on lots are all going to have come across the border or have the parts come across the border.”
Anderson says cost increases could hit in-demand models within a month.
