How to beat rising car prices before tariffs could send them higher
US Secretary of Commerce Howard Lutnick outlined that the Big Three automakers — Ford (F), General Motors (GM), and Stellantis (STLA) — could find exemptions from President Trump's tariffs on imports from Canada and Mexico. Recent forecasts have anticipated the price of new cars and trucks within the US to rise by $12,000 due to tariffs. Kelley Blue Book Senior Editor Matt Degen sits down with Wealth host Madison Mills to talk more about the pricing impact that trade tariffs will have on the automotive industry. Catch Yahoo Finance's coverage on how Trump tariffs are affecting US automakers, the pharmaceutical industry, and commodities markets. "We're already flirting with record-high prices for both new and used cars. I mean, the average transaction price of a new car these days is nearly $50,000," Degen says, explaining the "constant sticker shock" American consumers experience. Degen goes on to discuss the best ways for auto buyers to find value in purchases "sooner rather than later." To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Luke Carberry Mogan.