On April 1, 2023, unprecedented auto tariffs will take effect, causing widespread anxiety among automakers and dealers. Hyundai has warned U.S. dealers that prices for wholesale vehicles could rise dramatically, with estimates suggesting increases of $3,000 for U.S.-made cars and up to $6,000 for those made in Canada or Mexico. This comes amidst broader concerns about how consumers will respond to higher prices and how dealers can market vehicles affected by these tariffs. The automotive industry is bracing for a significant shift as the new tariffs unfold.
The new tariffs will increase the price of vehicles substantially, causing concern for both dealers and consumers as they navigate a volatile automotive market.
As auto tariffs are implemented, Hyundai's message to dealers suggests a potential price hike ranging from $3,000 to $6,000 depending on vehicle origin.
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