Canadian Auto Shoppers Expect Price Hikes Ahead of Potential U.S. Tariffs
What happened
A poll from Autotrader Group plc reveals a significant increase in tariff-related vehicle price expectations over the past three months. Currently, 85% of new vehicle shoppers and 73% of used vehicle shoppers expect prices to rise. Nearly three-quarters of respondents anticipate the U.S. will proceed with raising tariffs on January 1, 2027.
From torontosun.com
Why it matters
Baris Akyurek noted that when tariffs were first implemented, the anticipation of price increases led to increased demand and rising prices. However, demand has recently slowed as the January 1 deadline approaches, although expectations for price increases remain high.
Autotrader Group plc and Baris Akyurek are providing research focused on consumer intent and affordability.
From torontosun.com