Car dealerships across the New York area are reporting an influx of customers — who have raced to snap up vehicles before President Trump’s tariffs are revealed on Wednesday.
Tom Maoli, president and CEO of New Jersey-based Celebrity Motor Cars — whose luxury car outlets include Lexus of Route 10 and Maserati of Morris County — said he has seen a 15% increase in sales since it became apparent that tariffs were coming down the pike.
“If the Trump administration follows through on the proposed tariffs, it’s going to cause an additional 10% to 12% increase on car prices and repairs,” Maoli told The Post.
“It’s going to be damaging the consumer who has already been damaged and has not recovered from Covid inflation.”
Maoli added that he didn’t even need to offer consumers a discount since the tariffs proved enough of an incentive for the buyer, who has been “very anxious and pressed to have the sale go through.”
At Ferarro Auto Sales, a used car lot in Jersey City, around 10 customers take the plunge on a purchase during a typical month, according to salesman John Martinez. In recent weeks, however, that number has jumped to 15.
The rush to buy vehicles spurred by tariffs is putting a squeeze on supply, according to Martinez.
“My boss’ inventory went down from 60 unit to 40 units,” Martinez told The Post. “He’s going to different auctions trying to find cars. It’s chaos right now.”
Willie Fawaz, the 48-year-old owner of Huntington Auto Mall in Suffolk County, Long Island, told The Post that he has seen sales surge between 25% and 30% during the past month.
His dealership, which sells used cars ranging from Audi, BMW, Infiniti, Chevrolet and Chrysler, recently hosted a father of twin daughters who wanted to buy two vehicles before tariffs set in.
“He was very concerned,” Fawaz said. “He wants to make sure he can get the best deals based on all the inventory.”
While used cars will likely not see an immediate price increase due to tariffs, that could change once dealerships start to replenish inventory, according to Fawaz.
Tariffs will not only affect cars but also the parts — which will push up the price of second-hand vehicles as well, he noted.
“We’re not going to price gouge on people,” Fawaz told The Post. “But when we start buying new inventory, the prices will go up by 20% to 25%.”
