The Americans will not pay more to buy a car following the prices of President Donald Trump, the White House said on Thursday.
“No, not on cars, they won’t do it,” said Stephen Miller, the White House vice-chief, in response to the question of whether consumers may have to pay more to buy a vehicle while car manufacturers adjust their production to take into account Trump prices.
“Because again, there is now a massive economic incentive for cars to expand production in the United States, and whatever they do here, there will be no price,” he added.
Consumers seem skeptical. The concessionaires report an increase in demand while customers try to lock an agreement before potential changes.
Economists are not so convinced either.
Anderson Economic Group, a consultant company based in Michigan, estimates that even the least affected vehicles could still see a prosper burden of $ 2,000. According to their estimates, some vehicles may have a price burden of up to $ 12,000. The exact estimate varies that the vehicle is assembled in the United States and the percentage of American manufacturing parts that enter it.
“If you are on the market for a new car and you find one that you like, my advice is to buy it immediately. If you have a used car on which you plan, my advice is to make sure that it is well maintained because you are likely to use it for a certain time longer than you had planned earlier,” said Patrick L. Anderson, the principle and the CEO of the group.
Here is what the largest car manufacturers in the country have said on the prices and if they will increase prices.
GM
CEO Mary Bara said prices could cost General Motors up to $ 5 billion. As for consumers, she said that the American automotive sales leader “will remain competitive”.
“We have been able to maintain solid prices and low incentives because customers want our vehicles,” Bara told CNN. “What we said and what we have provided in our advice is that the price will remain at the same levels of what it is.”
Bara has also presented no project for GM to offer incentives in the direction of promoting the price of Ford employees. She said that prices in the automotive industry change “at least monthly and sometimes more frequently” and that GM “would react to the market” to remain competitive.
As for the prices overall, Bara said that one of the best ways that GM can respond is to continue to increase the part of each vehicle that is made in the United States.
Toyota
Toyota, the second best sold American manufacturer, is considerably exposed to prices.
Please help Bi to improve our business, technology and innovation coverage by sharing your role a bit – this will help us adapt the content that matters most for people like you.
What is your job title?
(1 in 2)
What products or services can you approve of purchase in your role?
(2 out of 2)
Continue
By providing this information, you accept that Business Insider can use this data to improve the experience of your site and for targeted advertising. By continuing, you accept that you accept the conditions of use and the privacy policy.
Thank you for sharing information on your role.
A UBS Securities report published at the start of the Trump trade war said that prices could cost the five largest car manufacturers in Japan 25 billion dollars per year, mainly worn by Toyota, the largest car manufacturer in the world.
Toyota should benefit from Trump’s decision on April 29 to slow down some of his car rates. One of these orders allows car manufacturers to claim compensation on the prices of automotive parts if they produce and sell vehicles completed in the United States. Toyota, like many of its competitors, imports parts which are then assembled in vehicles completed in its factories based on the United States.
At the end of March, Reuters cited reports on the Japanese national media that Toyota did not plan to increase prices in response to prices.
A Toyota spokesperson refused other comments to Business Insider.
Ford
On Wednesday, Ford CEO Jim Farley said he could not promise that American consumers would not pay more to buy his business vehicles.
“No, I’m not saying that,” Farley told Erin Burnett from CNN when she asked if he would commit to saying that there would be no increase in Ford prices this summer.
Instead, Farley has announced that Ford, the best -selling car manufacturer in the country, will extend its current sale, which offers employee prices to consumers until July 4.
Hyundai
Hyundai CEO Jose Muñoz recently said that he expected the prices to remain stable.
“I don’t expect to see a huge increase overnight,” Muñoz told Bloomberg News on April 15. “The market will decide.”
Muñoz said that if price increases were to occur, they would probably not be imposed on vehicles with entry modeling at a lower cost.
“These customers are very sensitive to the price,” he said. “If you do this, then maybe they won’t buy cars.”
Hyundai and his brother Kia were the fourth best-selling car manufacturer in the United States in 2024.
Honda
Honda said very early that Trump prices could have a significant effect on its results.
World Executive Vice-President Shinji Aoyama told analysts in February that a 25% rate could cost the company $ 132.7 billion.
The fifth best-selling car manufacturer in the United States has since moved the production of its Civic Hybrid in Japan in the United States.
Stelllantis
A historic member of the Big 3 de Detroit, Stellantis, formerly known as Chrysler, did not say much about his pricing response either.
At a high level, the parent company of Jeep and Dodge withdrew its financial guidelines in 2025 due to the uncertainty concerning the pricing policy.
Like Ford, Stellantis has extended its employee price offer. According to The Detroit News, the program will now take place in early June.
businessinsider
