Louisiana auto dealers are seeing a slowdown in sales as consumers shy away from purchasing new vehicles amid tariff-induced price hikes and elevated interest rates.
Hoping to lure back shoppers, however, both manufacturers and dealers are ramping up discounts and incentives, helping to grease the wheels on transactions but also eating into profit margins.
Car buyers flocked to dealerships earlier this year to get ahead President Donald Trump’s 25% tariffs on imported vehicles and auto parts, which he has argued are needed to encourage investments in domestic manufacturing.
Since then, the sticker price on new vehicles has steadily increased. In June, the average manufacturer’s suggested retail price hit $51,124, nearing a new record, according to Kelley Blue Book .
Still, many car b