Japanese buyers are waiting two to five months for many hybrid models while Toyota’s European customers wait on average 60 to 70 days for new hybrids. U.S. dealers are selling out their hybrids.

President Donald Trump was asked whether he warned foreign automaker CEOs not to raise consumer prices in response to the 25 percent tariffs he plans to impose on their products. “No, I never said that,” Trump said.

Analysts say that automakers will most likely absorb some of the higher tariff costs, dealers may see a hit to profitability and consumers will pay the rest. But exactly how that’s all balanced out is anyone’s guess at this point.

The 2025 Automotive News list of the top 150 dealership groups is live. Find out who made our ranking this year, including newcomers.