Cadillac, Tesla, GMC Vehicles Get More Expensive In April After Trump Tariffs, Shows Data

The average price of new vehicles in the U.S. rose in April to touch $48,699 after the Trump administration imposed 25% tariffs on imported vehicles manufactured outside the country, according to data from Kelley Blue Book.

The average transaction price (ATP) of a new vehicle rose sharply by 2.5% month-on-month (MoM), marking the largest increase in vehicle prices in April since 2020, when prices rose 2.7% amid the pandemic.

Kelly Blue Book noted that this is more than double the usual monthly increase of only 1.1% seen in April.

The new-vehicle sales pace in April was 17.3 million, marking the strongest April since 2021, owing to a buying frenzy as consumers rushed to make their purchase before car makers hiked prices.

Cox Automotive executive analyst Erin Keating said that the cost of new cars has steadily increased since President Trump announced auto tariffs.

"Even though there was a surge in shopping and sales early on, the manufacturer's suggested retail prices haven't budged. The pricing landscape is varied depending on the automaker, car segment, and specific models – some are cutting incentives, others are in high demand, and the supply isn't evenly distributed across the board," he said.

The compact SUV segment, which is highly exposed to new import tariffs, saw vehicle prices that were mostly flat MoM and year-on-year (YoY) at $36,416 in April. Transaction prices held mostly steady MoM in April in the subcompact SUV segment as well, Kelley Blue Book said.

However, prices rose MoM in the subcompact car and high-performance car segments.

Audi, Land Rover, Volvo, Cadillac, Chevrolet, and GMC had higher ATPs in April, while Buick, Acura, and BMW saw lower prices.

Sales of Porsche and Land Rover models accelerated in April, as both brands face higher future costs since 100% of their respective vehicles are imported.

The electric vehicle giant Tesla's average ATP increased MoM by 2.8% and YoY by 1.3% in April, reaching $56,120, even though the ATP of its pricier offering, Cybertruck, fell to $89,247.

Automakers Ford (F) and Stellantis (STLA) have already pulled their full-year guidance citing tariff-related uncertainties.

General Motors (GM), meanwhile, slashed its full-year guidance, saying it expects a $4 billion to $5 billion impact due to the Trump administration’s tariffs on imports.

Also See: UnitedHealth Suspends 2025 Guidance, CEO Andrew Witty Resigns: Retail’s Disheartened

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