General Motors and other automobile manufacturers reported notable increases in their sales of American vehicles of the first quarter, since the automotive industry departs for the impacts of the automotive rates of President Donald Trump that will enter into force this week.
GM on Tuesday reported a 16.7% leap in new vehicle sales compared to the first quarter of 2024, led by incremental profits in sales of new fully electric vehicles, such as Cadillac Escalade IQ and Cadillac Optiq, as well as notable increases in the input level crossings and full -size SUVs.
The Detroit car manufacturer is expected to significantly exceed the general sales of the industry for the first quarter, which seems to be more robust than expected. Car analysts had originally predicted approximately 1% or less sales growth year after year.
Automobile manufacturers of South Korea Hyundai Motor and Kia Motors also reported sales profits of two digits of approximately 10%and 11%, respectively, compared to the first quarter of 2024. Honda Motor, meanwhile, reported an increase of 5.3%, while Toyota Motor reported a gain of approximately one year per year.
An atypical so far is Ford Motor, which reported a decrease in sales of 1.3% during the first quarter that was largely due to last year’s interruption of its Ford Edge SUV.
The results of sales are ahead of Trump tariffs that take effect this week, including 25% rays in vehicles imported as of Thursday. The automotive industry also expects ads of possible additional “reciprocal” possible “reciprocal” tariffs that could affect car manufacturers on Wednesday.
JD Power last week predicted solid sales of the industry for March, since consumers went mass to dealers to buy a new vehicle to avoid any potential increase in prices due to tariffs.
“The increase in annual retail sales of 13% is particularly strong, enabled by consumers who accelerate purchases to avoid potential price increases related to the rate,” said Thomas King, president of the Data Division and analysis of JD Power, in a statement. “While the situation of the rate is still fluid and uncertain, the possibility of tariffs is already beginning to affect the industry.”
Hyundai Motor CEO North America, Randy Parker, said the Hyundai and Genesis brands of South Korea’s car manufacturers experienced a significant increase in traffic and sales of the dealership at the end of the month, in the middle of Trump’s confirmation last week that the generalized rates of 25% would enter into force for vehicles gathered outside the United States.
“The last week, and including last weekend, was, with much, the best weekend I’ve seen in a long time,” he said Tuesday during a media call. “I’ve been doing this for a long time, a long time. So many people, I think, hastened this weekend, especially to try to overcome rates.”
It was a similar experience in other car manufacturers such as Ford. Although the general sales of the Detroit car manufacturer experienced a slight decrease in the quarter, the automobile manufacturer informs that its retail sales, which exclude their fleet business, increased 5% year after year. Retail sales were driven by a 19% increase in March, Ford said.
Ford’s movement to finish the production of The Edge, which occurred in Canada, was not related to Trump’s tariffs.
25%tariffs are expected to enter into force on Thursday, include all vehicles that are not made in the US.
There are important concerns regarding tariffs when it comes to companies, as well as the highest price potential in new vehicles, which are already around $ 48,000, according to COX Automotive.
Parker de Hyundai said the company has not yet decided whether vehicle prices will increase due to tariffs, but alluded to be a good time to buy a vehicle before any possible change.
“We continue to evaluate all the scenarios,” said Parker. “But what would say to our clients is that, like all things in life, tomorrow is never guaranteed. And if you are interested in buying a car, it is a good time to buy a car, because as of today, we have not increased prices.”
Hyundai, like most of the main car manufacturers, produces vehicles in the United States, but also imports a substantial amount from outside the country. Hyundai, including his brother Kia Carmaker, is currently increasing the production of vehicles in a new multimillionaire assembly plant in Georgia.
The car manufacturer said Tuesday, about 40% of its Hyundai and Genesis vehicles sold in the United States were built in their manufacturing facilities in Alabama. That number, the company said, will increase this year with the addition of metapsenter in Savannah, Georgia.
Last week, Hyundai also announced an investment of approximately $ 21 billion in a subset of the USA. UU. Including a steel plant of $ 5.8 billion in Louisiana.
