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Believe it or not, the definitions are not bad for every industry.
Certainly, the auto industry will feel the effects of the definitions that the United States put in 25 % on most imports. However, this procedure is also likely to increase the prices of new cars in the United States significantly. This can be easily as a blow to us, as consumers tend to stay away from widely lean economic times.
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With the expectation that the prices of cars in local and foreign vehicles are expected, it is easy to know why people optimistic about the used car market.
However, the high prices in one sector tend to have a ripple effect in many sectors. The prices of new cars that have already started to cause a rise in the used car market.
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Car buyers are used to face higher prices
The prices of used cars were fixed or decreased for several months.
Related: The Popular Automobile Industry Company takes strict measures to combat definitions
In fact, prices have not increased since October 2022. However, this series ended in March.
The prices of used cars increased by 1 %, or $ 317, on an annual basis in March, according to Data from Isecars.com. The company notes that this increase was before the definitions came into effect, which means that we can be broadcast by the start of a greater increase.
“The prices of used cars decreased by up to 7.3 % in June 2024, but during the past six months, the prices of cars have stabilized.” “Now the prices of used cars rise, and this before the definitions affect the pricing of the new cars, which will add more upward pressure to the prices of new and used cars.”
According to ISEECARS analysts, an additional increase of 5 % and 10 % in the current pricing of the most used models.
The average Kia Forte price will increase by $ 890 based on an increase of 5 %. In additional $ 5,169, Chevive Tahoe will cost $ 5,169 based on an increase of 10 %.
“During the epidemic, the prices of new cars increased when the auto factories were closed, and production decreased by demand,” said Brawer. “With the customs tariff, the prices are likely to increase regardless of demand, which leads to the creation of a similar rise in the prices of the car that can increase the prices of used cars.”
One slice still sees prices drop
According to the graph, the average monthly prices have risen throughout the year, the same previous year.
However, one car sector is the vision of prices decreases: electric cars.
Related: The owners of Tesla Cybletruck will hate another step from Tesla
The average EV prices fell more than $ 3,600 in the past year, which IEECARS notes starkly with the prices of SUVs and trucks, which are average of $ 1,000 and $ 337, respectively.
“Buyers who are looking for a used car deal can still find lower prices on cars and cars compared to a year ago, while EVS has decreased more than $ 3,600,” said Praire.
More car news:
- General Motors presented a sudden update to business
- Ford reports sudden news amid Tesla’s disorder
- Apple creates a smart way to stop car thieves
But in the end, the company is still concerned that we only see the beginning of the high prices of used cars. During the epidemic, the price of new cars increased the prices of used cars.
In this scenario, famous used cars such as the Ford F-15000 $ 4000 may cost, while Ford Explorer cost another $ 3000.
Related: The Veteran Fund Director reveals the prediction of the S&P 500
