BUFFALO, NY (WKBW) — As the deadline for new tariffs approaches, American consumers are bracing for the financial impact of a 25 percent tariff on imported passenger cars and key auto parts.
Set to take effect on April 3, the tariffs will impact a significant portion of the U.S. automotive market, prompting concerns about rising consumer prices.
According to the White House, nearly half of the 16 million cars sold in the U.S. last year were imported. While millions of vehicles are manufactured or assembled in America, a substantial inventory from popular brands—including Volkswagen, Hyundai, Kia, and Toyota—remains heavily reliant on foreign imports.
Currently, the average cost of a new car exceeds $48,000, and experts warn that upcoming tariffs on imported models could increase that price by at least $6,000.
"The cost of new cars has just gone off the chart, and it's gonna get worse before it gets better," said Marty Pecoraro, owner of River Front Auto Dealers in Buffalo.
He is proactively expanding his inventory in anticipation of the tariff's effects.
"I've been aggressively buying cars over the last 30 days," he added.
Local consumers are also feeling the pinch.
Frank Mercardo, a Western New Yorker looking to purchase a new vehicle, expressed his concerns.
"I feel that we're being priced out of the market; I don’t think many people can afford a new car," said Mercardo.
Expectations about rising prices have shifted consumer behavior, with many buyers exploring used cars as a more affordable alternative.
"I think what's going on with the tariffs is also driving all the prices of the cars up," Mercardo noted.
With new car prices projected to exceed $60,000 due to the tariffs, Pecoraro expressed frustration about the potential barriers to purchase.
"I don't know who could afford a new car for $60,000 or $70,000," Pecoraro said. "I know I can't, so I think the best value will be these pre-owned cars."
This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
