The US auto industry saw a surge in sales last month as consumers rushed to purchase vehicles ahead of President Donald Trump’s new tariffs on imported cars and parts.
Several major automakers reported sharp increases in sales for March, as buyers sought to avoid the price hikes expected once the tariffs take effect.
“This past weekend was by far the best weekend I’ve seen in a very long time,” Randy Parker, the chief executive of Hyundai Motor North America, told reporters on Tuesday.
The company reported a 13% increase in March sales on Monday compared with a year earlier.
Ford Motor Company saw an even bigger jump, with a 19% rise in March sales at dealerships.
However, the company’s overall first-quarter sales dropped by 1% to about 500,000 vehicles due to weaker fleet sales.
General Motors did not disclose a separate figure for March, but its first-quarter sales rose 17% year-over-year, reaching 693,000 vehicles.
The rush to buy comes ahead of Trump’s planned 25% tariff on imported vehicles, set to take effect on Thursday.
The tariffs will extend to imported auto parts on May 3, posing a challenge even for cars assembled in the US, as many contain foreign components that make up more than half of their total value.
Analysts predict price hikes of over $10,000 for some models as automakers adjust to the new levies.
