LAS VEGAS, Nev. (FOX5) – One day into President Donald Trump’s 25% tariff on foreign cars and auto parts, a Las Vegas Valley auto group says it’s too soon to tell how sticker prices will be impacted.
Findlay Automotive Group has 35 dealerships in the Western U.S., including 18 in the valley, representing nearly every major manufacturer.
The group’s Chief Financial Officer Tyler Corder describes the current situation as “uncharted territory,” but says there is no need for consumers to panic.
“It’s not a panic situation,” Corder says. “It’s going to be a couple of months before we see the real impact of the tariffs, and I think a lot will change in the meantime.”
Corder says the group has about 8,000, or a 60-day supply, of tariff-free cars in stock. He doesn’t expect their consumers to feel any effects until those 60 days are up.
However, what that effect will be is still unclear.
Corder says that even though most of the brands they represent are considered to be “import brands,” many have domestic manufacturing plants.
“I think we’ll see them shift a lot of their production into the United States and avoid the tariffs,” he says.
He says other brands that don’t have as much domestic production capability may be affected more.
“In general, it’s highline European manufacturers. Audi, BMW, Mercedes, I think would be a little bit more affected than the non-luxury cars,” he says.
While these 60 days play out, Corder says they’ll be in close contact with their manufacturers.
Overall, he does expect an impact on sticker price but is hopeful there will be incentives to offset it. Not all consumers, though, are as optimistic.
Hector Soto says he rushed to purchase a new car Friday morning.
“Some of my friends―this is the word they used―‘you should get a car right now before they increase the prices again’,” Soto says. “That’s the word they used, ‘we’re scared’.”
James Daigle, on the other hand, was just at the dealership on Friday to get an oil change.
“We’re just maintaining our two vehicles, we don’t have any plans to purchase a new one anytime soon,” Diagle says. “I have no concerns.”
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