PEDAL TO THE METAL

Americans Scramble to Buy Cars Before Trump’s Tariffs Hit

Buyers are trying to secure vehicles before the president’s long-teased levies on foreign-made vehicles hit prices.

Middle-income Americans are rushing to lock in car purchases as fears mount over rising prices tied to President Donald Trump’s shifting trade policies, according to a new survey. The survey, executed by Santander Holdings USA and shared with Axios, found that 55 percent of consumers are now considering buying a vehicle in the next year—up from 47 percent in the first quarter of 2025—marking the first time in two years that would-be buyers outnumber consumers uncertain about future costs. Nearly one in five households fast-tracked key purchases in the second quarter due to price volatility, with 41 percent choosing to buy a car. Consumers are also adjusting their strategies. Half of prospective buyers are more likely to take out an auto loan, 48 percent say they’ll opt for a used car, and 42 percent are likely to make a move within the next three months. “Households are focused on maintaining vehicle access and prioritizing it within their budgets,” said Santander’s auto head Betty Jotanovic. Auto sales jumped earlier this year amid tariff fears, dipped as Trump wavered, and now appear to be surging again as buyers scramble to beat the clock.