As more tariffed products replace existing non-tariffed inventory, vehicle prices move up, resulting in slower sales, said an economist.
Sales of new cars in November are estimated to decline amid higher prices and slowing electric vehicle (EV) volume, auto services company Cox Automotive said in a Nov. 25 statement.
“Sales volume is expected to fall to 1.27 million, down 1% from October and 7.8% from last year’s finish,” the company said. “November has 25 selling days, two fewer than last month and down one from last year, which accounts for some of the expected volume decline.”
