Supply chain issues, record-high vehicle prices, and personnel disruption in the wake of the pandemic were problematic.
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Value-driven brands are seeing increased interest as consumers search for quality vehicles that align with their tightened budgets.
“The expansion of these tariffs will have far-reaching consequences," says Bill Hanvey, president and CEO, Auto Care Association.
The most significant trend to emerge in the state is the shift in consumer preference within the alternative powertrain sector.
Even with monthlong reprieve, potential 25% tariffs threaten to disrupt production and sales across key markets.
More than half of survey respondents would purchase an EV if cost was not a factor; 21% plan to an EV in the next 1-2 years.
“Any direct-sales model would do nothing less than undermine any automaker’s relationship with its franchised dealers," says 2024 NADA chairman.