President Donald Trump announced new tariffs on auto imports during a press conference on Wednesday. Auto industry experts weigh in on when to buy a car as the levies loom.

While auto manufacturer stocks fell following Trump’s tariff move, shares of auto parts retailers like Raleigh-based Advance Auto Parts saw a boost last week as investors predicted more drivers may invest in maintaining their current vehicles longer rather than purchase more expensive new cars.

The administration's 25% import tax on cars and parts can squeeze dealerships' parts and service revenue, one of their largest profit centers. Buy now/pay later lenders could see a windfall.

President Donald Trump on Wednesday announced that his administration will be imposing additional tariffs on all foreign-made cars and imports. He says even higher tariffs will be placed on the EU, China,

President Trump said he is imposing tariffs of 25% on all foreign-made automobiles that will take effect at midnight.

Sales of cars picked up recently partly as buyers rushed to lock in deals before President Trump’s 25 percent tariffs on cars and auto parts go into effect.

Volvo Cars' new top executive said on Thursday the company would produce more cars in the United States while ramping up its regionalisation efforts, just as a 25% U.S. tariff on global autos takes effect.

Both Detroit automakers reported upbeat Q1 sales as customers rushed to grab deals before the Trump's 25% tariffs on imported vehicles hit.

The array of automotive parts that President Trump plans to tariff is more extensive than the industry expected, raising concerns about significant cost increases for U.S.-built vehicles. As part of Trump’s tariff announcement Wednesday,