Car prices could rise by thousands due to tariffs

(KYMA, KECY) - Experts say car prices could be on the rise by thousands of dollars following tariffs imposed by President Trump on automakers.

President Trump signed an executive order on March 27 imposing a 25% tariff on imported cars and car parts. This was done in an effort to boost manufacturing within the United States.

Data shows nearly half of all vehicles sold in the U.S. are imported.

Mark Shienberg, President of the Greater New York Auto Dealers Association, says, "We're hearing numbers of anything from a couple of $1,000 to over $10,000 is a possible impact on the price of a vehicle."

Some MSRP stickers on vehicles tell buyers how much of a car is made with parts outside the U.S.