- President Trump’s 25% tariff on imported vehicles could send prices soaring for several popular models.
- Mexican-made versions of the Chevy Silverado and GMC Sierra could see average list prices jump by up to $16K.
- The affordable Nissan Sentra could see a hike of $6,039 which would bring the average price up to $30,194.
President Trump’s decision to slap a 25% tariff on imported vehicles and parts is going to leave a mark on the automotive industry, and consumers are about to feel the sting. While the full extent of the damage won’t be clear until the dust settles, early projections suggest this isn’t going to be pretty.
According to iSeeCars, some of the most popular vehicles in America could see their prices increase between $6,000 and $16,000. This includes models from both domestic and foreign automakers.
More: Trump Imposes Sweeping 25% Tariff On Non-US Made Cars And Parts
The Chevrolet Silverado and GMC Sierra are some of the best-selling vehicles in the country and many are built here. However, some are imported from Silao, Mexico and they’d be subject to the ‘Trump tax.’
Since the average Silverado 1500 costs $55,612, prices could climb to $69,515 after factoring in the new tariff. The GMC Sierra 1500, on the other hand, could see a $15,599 increase.
Tariff Impact on Most Popular Non-Domestic Cars in the US
Sticking with GM, the 2025 Chevrolet Equinox is built exclusively in San Luis Potosí, Mexico. This could prove disastrous as a 25% tariff would add $8,302 onto the average list price.
If Dodge wasn’t already having a hard enough time selling the electric Charger Daytona, tariffs could finally put a nail in its coffin. The Canadian-built EV starts at $59,595, so that would jump to $74,494 with the tariffs. However, the average list price is $66,701, so consumers could be looking at a $16,675 increase.
Moving to Toyota, the Mexican-made Tacoma could be facing a sales nightmare thanks to an $11,775 price increase due to tariffs. It’s a similar story for the Japanese-built 4Runner, which could see the average list price climb by $13,532.
While we could go on and on, the moral of the story is all imported cars could be subject to a 25% price hike starting April 2. However, some automakers may absorb part of the increase to minimize sales disruption. This may happen more so initially, but all bets are off when it comes to the long term.
Of course, new vehicles won’t be the only ones impacted. As iSeeCars Executive Analyst Karl Brauer noted, used car prices should rise quickly as consumers are priced out of the new car market. He went on to suggest this will be a repeat of the pandemic, when new car production was restricted and there was a huge demand for used vehicles.