NEW YORK (AP) — Major automakers have reported a significant increase in sales for March, with many experiencing double-digit growth. This strong performance helped some companies compensate for a slow start to the year. In March, automakers sold nearly 1.6 million vehicles in the U.S., marking an increase of 13.6%. According to Motorintelligence.com, total sales for the first quarter surpassed 3.9 million vehicles. A notable trend was the surge in electric vehicle sales across almost all automakers.
The future remains uncertain as President Donald Trump announced 25% tariffs on imported vehicles, set to take effect on April 3. These tariffs will extend to applicable auto parts through May 3. Analysts suggest that while the tariffs may lead to higher costs and reduced sales for automakers, they could also encourage more factories to open in the United States.
Sam Abuelsamid, an analyst at Telemetry Insight, noted that the March sales figures were likely boosted by pre-buying ahead of the tariffs, though affordability and high interest rates may have limited this effect.
Key highlights include:
– General Motors saw a 17% rise in U.S. sales during the first quarter, driven by full-size pickups and SUVs.
– Ford experienced a 10% increase in March sales, largely due to strong F-150 and electric vehicle sales.
– Toyota reported a 7.7% increase in March sales, with electric vehicles accounting for nearly half of its sales volume.
– Honda noted a 13.2% increase in March sales, with electrified vehicles making up nearly a third of total sales.
– Nissan, Hyundai, and Kia also reported substantial increases in sales, with electric and hybrid vehicles contributing significantly.
— new from AP News