DETROIT — Major automakers, including Ford, Hyundai, and Kia, reported substantial year-over-year U.S. sales increases in April. This surge was driven by consumers rushing to buy vehicles ahead of anticipated price hikes due to tariffs. The trend began in late March and continued into April, supported by special discounts offered by some manufacturers. Analysts note that demand slowed toward the end of April as inventories tightened and prices rose following the initial buying rush. President Donald Trump’s 25% tariffs on imported vehicles, which took effect in early April, have significantly impacted the market. Although some tariff adjustments were made this week, additional levies on auto parts are expected soon.
— new from CNBC
