Tariffs Devastate Used Car Market — Press Release

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Keith Meade
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TARIFFS DEVASTATE CAUSING USED CAR PRICES TO SKYROCKET

2025 Trade Policies Are Urgently Making Vehicles Less Affordable for Working Families

 

Morristown, Tenn. May 4, 2025 — As used car prices climb to all-time highs, local auto experts are sounding the alarm over the impact of U.S. trade tariffs—past and present—on vehicle affordability. While semiconductor shortages have dominated headlines, many in the industry say recent tariffs significantly impact the crisis. The Trump administration's new policies, enacted in early 2025 following tariffs imposed in 2018, have driven up costs for critical automotive parts, especially those imported from Asia and Europe. “In 2018, we saw the first wave of steel and aluminum tariffs. Now, with even more automotive tariffs in place, it’s pushing up costs across the board,” said Wade Hammel, Used Car Manager at Morristown Ford. “When new cars become too expensive for working families, buyers turn to used cars—and that demand is driving up prices.” 

The result? According to the U.S. Bureau of Labor Statistics, the average used vehicle now costs over $28,000—more than double what buyers paid in 2019.       The effects are hitting consumers hardest, particularly first-time buyers and working-class families who rely on used cars as an affordable alternative. The impact on these families cannot be overstated.

 

“New cars are just too expensive now,” said Travis Turner, General Sales Manager at Morristown Ford. “But even used cars are out of reach for many. The tariffs are making it tough on buyers, dealers, and even our employees.”

 

Production delays, parts shortages, and increased costs are causing Americans to hold onto older vehicles longer, leading to even fewer used cars in circulation—and higher prices for the ones available. With inflation still rising and interest rates high, local experts are urging immediate awareness and action. They warn that without changes in trade policy, the economic strain on vehicle buyers may continue to worsen.

 

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Coffee Shop News founded in 2025 by Keith Meade to bring local stories fast and accurate to the Morristown community. When you read our news you will know it is reliable and informative.

 

For more information or to schedule an interview with Coffee Shop News, please contact:

Keith Meade at keith.meade@coffeeshopnews.com or 555-850-7890.

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