Potential car buyers and sellers are keeping a close eye on how tariffs may affect the automotive industry. Vehicle prices could increase by thousands, so does that make this a good time to buy?The auto world is a world of uncertainty right now. John Giambalvo is the president and CEO of the Giambalvo dealerships in York County.”Yeah, I think everybody’s trying to figure it out. What’s going to happen? When is it going to happen? How is it going to happen?” Giambalvo said. They have six new car locations and sell 10 different makes of vehicles. Giambalvo tells News 8 that they know the price of the vehicles on Monday, and that fact alone could make it a good time to buy. “Dealers, not just us, but other dealers, have a good inventory because we’re stocking up for our spring selling season. So, I think there’s more compelling reason to do something sooner rather than the uncertainty of down the road, because we just don’t know,” Giambalvo said. He sells foreign and American brand vehicles and right now, no brand seems to be outpacing the other in sales. But at a recent car show in the Midwest, tariffs were clearly on the minds of consumers. “If I’m going to pay an extra $5,000 or 10 percent or whatever it is, I probably won’t buy.” potential buyer Craig Stachowski said. The latest report from the Center for Automotive Research suggests the average American-made vehicle could cost an extra $4,200 to make with tariffs because many of the parts are imported from overseas.If you are in the car market and want to take advantage of the prices that exist today, do your research on the price of the vehicle over the last three to six months. That way, you will know if tariffs or the expectations of tariffs have changed the price of that vehicle.
Potential car buyers and sellers are keeping a close eye on how tariffs may affect the automotive industry.
Vehicle prices could increase by thousands, so does that make this a good time to buy?
The auto world is a world of uncertainty right now.
John Giambalvo is the president and CEO of the Giambalvo dealerships in York County.
“Yeah, I think everybody’s trying to figure it out. What’s going to happen? When is it going to happen? How is it going to happen?” Giambalvo said.
They have six new car locations and sell 10 different makes of vehicles.
Giambalvo tells News 8 that they know the price of the vehicles on Monday, and that fact alone could make it a good time to buy.
“Dealers, not just us, but other dealers, have a good inventory because we’re stocking up for our spring selling season. So, I think there’s more compelling reason to do something sooner rather than the uncertainty of down the road, because we just don’t know,” Giambalvo said.
He sells foreign and American brand vehicles and right now, no brand seems to be outpacing the other in sales.
But at a recent car show in the Midwest, tariffs were clearly on the minds of consumers.
“If I’m going to pay an extra $5,000 or 10 percent or whatever it is, I probably won’t buy.” potential buyer Craig Stachowski said.
The latest report from the Center for Automotive Research suggests the average American-made vehicle could cost an extra $4,200 to make with tariffs because many of the parts are imported from overseas.
If you are in the car market and want to take advantage of the prices that exist today, do your research on the price of the vehicle over the last three to six months.
That way, you will know if tariffs or the expectations of tariffs have changed the price of that vehicle.
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