TRUMP TARIFFS ON CAR PRICES - (Tariffs Impact Explained) - Kevin Hunter The Homework Guy
The projected impact of the Trump Tariffs on the US Car Market and Tariffs on Cars explained. Kevin Hunter The Homework Guy, talking about the Trump Tariffs, and the reaction by quite a few in the media and even a few content creators on this platform screaming, “The sky is falling! Or “The Great Car Crisis” full of doom and gloom…Is it justified? Definitely... NOT.
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Check it out. In 2015, the average price of a new car was just $33,500.
In 2016? Under entirely normal inflationary and market conditions, that number edged up a bit to $34,500. A $1,000 dollar jump in one year, all BEFORE the tariffs.
I show you the 2015 to 2016 years because they set a precedent for the next couple of years.
By the end of 2017, after a full year of the economy being normal, prices went up a little again, to $35,500. Another $1,000, perfectly normal inflationary increase. It was in 2017 that Trump brought in the tariffs. Steel tariffs. Aluminum tariffs. Trade tensions became intense with China.
Oh No, many screamed! And then in 2018? The prices? What happened? They went up $1,000 to $36,500. Just LIKE the year prior, a modest $1,000, as if absolutely NOTHING had changed!
Friends, That was just a one-thousand-dollar increase. Not the predicted five thousand. The sky didn’t fall! Just one grand for each year, right in line with the previous pre-tariff years, a continuation of the same slow, steady inflationary price creep we’ve seen for decades. Back in a moment right after this message from the main man on our broadcast, Kevin Hunter!)
By 2019, the average car price hit $37,500. Another $1,000 creep upwards. And in 2020, just before the pandemic flipped the world upside down, the number was $38,500. It was STILL just the usual $1,000 increase, like no tariffs had ever been put into place!
Yet, take a look back at these sensationalized news headlines from automotive industry experts and the media, all of whom were screaming…. "Tariffs will crush us!" they said. "Expect $5,000 price hikes overnight!" they warned.
Totally wrong, all fake news… just more BS to scare people!
So, over a six-year stretch — including the entire period of the past Trump tariffs — new car prices rose $5,000 in 6 years, or about $833 average per year. That is SO NORMAL, It’s like the Trump Tariffs never happened!
That’s precisely what we expect to see in the coming months, and we didn’t have to guess to predict this, we simply had to go back and analyze the previous data! Just like the irresponsible media could have done.
What’s The Homework Guy prediction? We might see dealers being somewhat less willing to negotiate on prices, but we’ll navigate that problem IF we get to it, BUT… for very sound reasons and with data to back us up, We don’t see much more than $650 to $850 of increase in actual car prices this year, due MOSTLY to entirely normal inflationary creep we've been seeing for years. If ANY dealer starts adding a market adjustment, you SHOULD totally skip right past them! There will be NO HUGE JUMP in prices due to tariffs this year. With domestic manufacturers staying fast at lower prices, the imports will have to follow suit! A $650 to $850 price increase by year's end on ANY vehicle would follow a totally normal inflationary condition, NOT a huge tariff motivated price jump!