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Used Car Prices Surge Amid New Tariffs and Uncertainty

4/11/2025

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Summary

Story summary

Used car prices increased by 1% year-over-year in March 2025, the first rise since October 2022.
New tariffs on imports, starting April 3, could raise vehicle costs by $1,300 to $3,800.
A survey shows 56% of Americans think it's a bad time to buy a car, expecting a 14.4% price hike next year.
The market is uncertain due to shifting demand and growing affordability challenges amid rising prices and interest rates.

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Story summary

Used car prices increased by 1% year-over-year in March 2025, the first rise since October 2022.
New tariffs on imports, starting April 3, could raise vehicle costs by $1,300 to $3,800.
A survey shows 56% of Americans think it's a bad time to buy a car, expecting a 14.4% price hike next year.
The market is uncertain due to shifting demand and growing affordability challenges amid rising prices and interest rates.