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Recent discussions highlight a pivotal concern regarding the auto industry, particularly in Detroit, Michigan. Proposed tariffs could drive vehicle prices up by anywhere from $1,000 to as high as $9,000. Commentary from sources like the Detroit Free Press indicates this could have far-reaching impacts, potentially causing more disruption than a strike by the United Auto Workers (UAW).
Automotive News further shines a light on how dealerships are already experiencing increased traffic, with reports suggesting a 30-35% uptick in sales due to the looming uncertainty surrounding tariffs. Consumers are being encouraged to buy vehicles sooner rather than later to avoid these price hikes.