Auto sales spiking as tariffs on foreign-imported vehicles roll out this week

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Auto tariffs causing car sales to surge

Auto sales have been spiking across the nation and in Minnesota.

“Between Friday, Saturday and Monday, we sold over 100 cars,” said Jim Haertzen, GM at Luther Brookdale Honda. “Probably never seen anything quite like this over such a short period of time.”

Haertzen said that while demand is typically high in the spring, sales are spiking with uncertainty as the White House rolls out 25% tariffs on foreign-imported vehicles this week.

RELATED: Trump’s latest auto tariffs explained: What car buyers should know this year

“Now would be a good time to buy cars on the lot,” said Dave Vang, a finance expert from the University of St. Thomas.

Vang said the tariffs may help U.S. auto producers, but come mid-summer, consumers will likely pay more for foreign cars once the tariff-free inventory dwindles down.

He estimates consumers could pay anywhere from $1,500 to $3,000 more.

Prices will not only rise on cars from abroad, but tariffs will also soon apply to foreign auto parts.

“A lot of American, quote on quote American cars, are actually made in Canada, and so the price of cars in general for the manufacturers will go up,” said Vang.