Sales
Suppliers and automakers are scrambling to cope with the compounding nature of President Donald Trump's tariffs and the speed with which the new levies are coming into effect. Tariffs on U.S. vehicle imports began April 3, and the Trump administration said duties on a wide range of parts will go into effect by May.
VW has seen a high share of customers decide to purchase the ID Buzz rather than lease, executives say.
Global sales fell 1.4 percent, but EV sales were up 32 percent through March.
The market grew 4.4 percent to 3.9 million in the first quarter, driven by hybrids and light trucks. Among automakers, GM, Hyundai and Nissan were big winners, while Ford, Stellantis, Tesla and Toyota lost share.
New-vehicle inventory across the U.S. stayed mostly flat over the past month and started April at 3.08 million, according to Lotlinx.
VW sales have been helped by consumer aversion globally to buying Tesla vehicles and in the U.S. by customers rushing to beat incoming tariffs on imported cars.
No. 2 Lexus trailed BMW by about 4,500 vehicles.
President Donald Trump sees his tariffs, which started April 3, as a way to encourage more manufacturing in the U.S. But those in the industry say moving manufacturing sites stateside isn’t easy and takes years.
Hyundai and Genesis will evaluate the impact of tariffs on the market and how they will affect consumers.
Mexico’s leadership is playing nice with the Trump administration on tariff negotiations. Mexico hasn’t retaliated against President Donald Trump’s tariffs. Our northern neighbor, Canada, hasn’t been so cordial.
