Customers, local car dealers on Long Island react to Trump's tariffs on imported cars
NESCONSET, Long Island (WABC) -- Customers and car dealers on Long Island are bracing for the financial impact that President Donald Trump's 25% tariffs on imported cars and parts will have when it goes into effect next week.
The general manager of Smithtown Toyota, Aman Singh, says there's a lot of anxiety as a result of the recently announced tariffs, saying he now gets about 10 to 15 calls a day.
Without a tangible answer, the general manager, who has been selling cars here for well over a decade, has one primary message for consumers.
"We've been telling them, 'hey, listen, we have cars here. If you pick something we have here, it's that price,'" Singh said.
Like most dealers, they've tried hard these past few weeks to increase inventory and lessen the immediate blow as the tariff's initiated by President Trump's executive order are set to take effect on April 3.
Analysts at Moody's estimate that by this time next year, the typical price of most new cars could be at least $6,000 more.
Most consumers Eyewitness News talked to are planning on racking up the mileage on the cars they are currently driving.
"I don't want to try to buy another car with the way things are going right now," said Melville motorist Andrew Ferraro.
"Well especially because I'm retired. We're on fixed income, so it's hard," said Centereach motorist Debbie Bizzarro.
However, analysts say that you should think carefully about that, because the prices on the parts are going up too. While used cars will be a good option for a while, if the overall supply of new cars decreases, the tariffs will soon have a more sweeping effect.
So, while Eyewitness News did find some consumers who are skeptical, others believe that it will be more of a temporary inconvenience.
"This is the minor, stormish-type thing that we're going through, and I think we'll just weather it fine," said Port Jefferson motorist Steve Dolecal.
Most experts are suggesting that if you're in the market, consider buying now.
"You might as well get ahead of this, because these tariffs aren't tied to any one particular metric, other than the administration still being in place," said Edmunds Director of Insights Ivan Drury.
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