NEW YORK—One day following the announcement of President Trump’s sweeping tariffs, new data show consumers have been moving quickly to make new car purchases.
GlobalData reported that light vehicle (LV) sales grew by 11.2% year-on-year in March, to 1.61 million.
“While March 2025 had one fewer selling day than the same month a year earlier, there was a clear pull-forward in sales as consumers sought to make purchases before tariffs were applied,” GlobalData said.
On a selling day-adjusted basis, sales increased by 15.5% YoY in March, with the daily selling rate was measured at 62.0k units/day, up from 51.3k units/day in February. The annualized selling rate was estimated at 17.8 million units/year in March, up from 16.4 million units/year in February.
“Until March, it appeared that consumers were largely content to wait on the sidelines and assess what might develop regarding tariffs, rather than rush to make a purchase,” said David Oakley, manager, Americas sales forecasts, GlobalData. “That changed last month, especially after the March 26th announcement that 25% tariffs would be placed on all imported light vehicles, plus many key automotive parts. While sales appeared to be robust throughout March, there was a notable surge in the final weekend after the picture regarding tariffs became clearer. In addition, the news coincided with the final weekend of the month and the end of the first quarter, which typically sees an uptick in sales in any case.
"The concerns that many within the automotive industry have expressed for months now appears to have crossed over into the public consciousness,” continued Oakley. “Although OEMs that import large numbers of finished vehicles are most exposed, all automakers will face higher costs due to tariffs on imported parts. Changes in customs procedures could also lead to delays and snarls at borders, and inventory could once again come under pressure if production slows or ceases. As the latest auto-specific tariff announcements seem to be devoid of references to actions that other countries can take to avoid the import duties, this appears to be a more permanent shift in policy to alter trading relationships over the long-term. OEMs are likely to react by shifting more production to the U.S., but this will be a long and complex set of changes to enact”.