Automakers report stellar sales ahead of Trump's tariffs taking effect
The major car companies say sales rose sharply in March, with most reporting double-digit gains
NEW YORK (AP) — The major car companies say sales rose sharply in March, with most reporting double-digit gains. For some companies, the strong performance last month helped make up for a sluggish start to the year.
Automakers sold nearly 1.6 million vehicles in the U.S. in March, up 13.6%. That brought total sales for the first quarter to more than 3.9 million vehicles, Motorintelligence.com said Tuesday. Almost all automakers saw a surge in sales of electric vehicles.
What future months hold for the automakers is uncertain. President Donald Trump announced 25% tariffs on auto imports that go into effect on April 3. The tariffs are set to expand to applicable auto parts in the following weeks, through May 3. The tax hike means automakers could face higher costs and lower sales, though Trump argues that the tariffs will lead to more factories opening in the United States.
Auto industry analyst Sam Abuelsamid at Telemetry Insight said expectations were that the March numbers would be higher due to some pre-buying ahead of the imposition of tariffs, although the pre-buying was likely “limited to some degree by affordability and continuing high interest rates.”
Here's a look at the latest results:
— Overall U.S. sales rose 17% during the first quarter on strong sales of full-size pickups and SUVs.
— Chevrolet sales rose 14% during the quarter, making it the brand's best quarter since 2019.
— GMC sales rose 18% for the brand's best quarter ever, with electric vehicle sales nearly tripling.
— Total sales rose 10% in March as strong sales of the F-150 pickup and electric vehicles helped offset a drop in sales of SUVs.
— Total sales fell 1% for the first quarter due to fewer sales to rental car companies and the discontinuation of two models.
— Sales of all-electric and hybrid vehicles increased and made up about 15% of total sales for the first quarter.
— U.S. sales for Toyota Motor North America rose 7.7% in March.
— Electric vehicle sales rose 44.1% in March and represented nearly half of the overall sales volume for the month.
— Total sales for Toyota Motor North America rose 0.9% during the first quarter.
— Total sales for American Honda rose 13.2% in March as the company's light trucks notched their best month of sales.
— Electrified vehicle sales surged 89.1% in March and made up nearly a third of all vehicle sales.
— Total sales rose 5.3% during the first quarter, as a surge in truck sales offset a drop in car sales.
— Total sales rose 5.7% in the first quarter, boosted by gains for the Sentra sedan and the Kicks compact crossover.
— Sales of the Leaf electric vehicle doubled in the quarter.
— Total sales for Hyundai Motor America rose 13% in March, led by sales of the Tucson and Santa FE SUVs and the Elantra Sedan.
— Total sales for the first quarter rose 10%.
— First-quarter sales of the company's hybrid-electric vehicles jumped 68%.
— Kia America said sales rose 13.1% in March and 10.7% for the first quarter.
