Auto dealers scramble as Trump's tariff fears drive buyers to showrooms

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Auto dealers scramble as Trump's tariff fears drive buyers to showrooms - Business Standard

Quick Summary:

Dealers are huddling with their rivals to exchange ideas on how best to cope.And a Hyundai Motor Co.sales executive urged retailers not let the opportunity pass by: “The focus should now be....SELLING TO A RECORD!!!! ” the memo exhorted.

Trump himself, asked on Friday whether car shoppers should rush to buy now to get ahead of the tariffs, said “No, I don’t think so.” He again touted an idea to make interest charges on loans for cars built in the US tax deductible, and predicted manufacturers would quickly expand production in America.

Tariffs will hit a $240 billion trade route, with imported cars and light trucks accounting for about half of the roughly 16 million vehicles sold in the US last year.