March Auto Sales Surge
According to ZeroSum’s March 2025 State of the Dealer report, new vehicle movement surged 38% month-over-month, driven by seasonal trends, more selling days, and a significant spike in tariff-related pull-ahead sales, which added 153,000 transactions. Used vehicle movement rose 32%, reaching 1.53 million units—the highest monthly total in the report’s seven-year history.
As consumer concerns over impending tariffs intensified, buyers rushed to lock in purchases, pushing both new and used vehicle prices upward. New vehicle average marketed prices climbed $944, ending March at $49,579, while used prices jumped $988, reversing a four-month decline. Reduced incentives also contributed to the price hike.
Genesis Cares: MSRP Freeze Hyundai Customer Assurance
Genesis Motor America has launched the “Genesis Cares” initiative, committing to maintain the Manufacturer’s Suggested Retail Price (MSRP) on all new models through June 2, 2025. This move, in response to economic uncertainty and potential tariffs, offers financial reassurance to customers. Genesis leaders emphasized the brand’s dedication to treating buyers as “son-nim,” or honored guests, while ensuring price stability amid dynamic market conditions.
Hyundai Motor America has introduced the Customer Assurance program, freezing the Manufacturer’s Suggested Retail Price (MSRP) on all new Hyundai vehicles through June 2, 2025, regardless of market volatility or potential tariffs. This initiative provides financial peace of mind for consumers and reflects Hyundai’s ongoing dedication to affordability and customer care.
The initiative follows the opening of Hyundai Motor Group Metaplant America in Georgia—the largest economic development project in state history—adding to Alabama’s existing manufacturing strength. Hyundai’s strategic flexibility, proven during the chip shortage and pandemic, reinforces its readiness to meet evolving customer needs and market conditions.
The initiative aligns with a broader $21 billion investment by Hyundai Motor Group (including Genesis) in the U.S. from 2025–2028 to expand manufacturing, tech advancement, and energy infrastructure—creating over 100,000 jobs. This follows the recent opening of the $12.6 billion Hyundai Metaplant in Georgia and continued production of Genesis models in Alabama. Genesis reaffirms its focus on flexibility, premium customer experiences, and long-term growth in the American market.
Faraday Future Sees Opportunity
Faraday Future (NASDAQ: FFAI) views the Trump Administration’s proposed reciprocal tariff policy as a strategic opportunity to strengthen its position in the U.S. electric vehicle (EV) market. The policy is designed to promote domestic automotive production and reduce reliance on imports—currently accounting for nearly 50% of U.S. vehicle sales.
The company highlighted key advantages including:
- Support for U.S. manufacturing and alignment with its reshoring strategy
- Resilient competitive positioning despite tariffs
- A largely domestic supply chain for added efficiency and stability
- A “Bridge Strategy” to blend global innovation with U.S.-based production
Faraday Future emphasized that the policy shift is not a setback, but a “structural opportunity” to lead in the Artificial Intelligence Electric Vehicle (AIEV) sector. The company reaffirmed its commitment to agile innovation, localization, and cross-border collaboration to transform the American EV landscape.
Jaguar Land Rover Pauses
Amid mounting uncertainty in the auto industry, Jaguar Land Rover announced on Friday that it would “pause” shipments to the United States this month, as the company assesses how to navigate the “new trading terms” introduced under the Trump administration’s recently proposed tariff policy.
Stellantis Idles Windsor Plant
Meanwhile, Stellantis, the multinational parent of Chrysler and Jeep, said it would temporarily idle operations at its Windsor Assembly Plant in Ontario next week, citing the economic strain caused by the tariff shift. The plant, located just across the border from Detroit, is a key site for the automaker’s minivan production and employs thousands of Canadian workers.
Nissan May Move More to Tennessee
In contrast, Nissan is reportedly considering moving portions of its vehicle production to the United States to mitigate tariff exposure. The Japanese automaker also confirmed it would reverse earlier plans to scale back operations at its Tennessee facility, signaling a potential reinvestment in its American footprint.
United Auto Workers Happy?
The United Auto Workers union, which represents hundreds of thousands of auto industry employees, welcomed the administration’s tariff action. In a statement, the UAW said the move “signals a return to policies that prioritize the workers who build this country, rather than the greed of ruthless corporations.”
Mullen Automotive Highlights U.S. Assembly, Tariff Exemption
Mullen Automotive, Inc. (NASDAQ: MULN) announced today that all current Mullen and Bollinger commercial vehicles are assembled in the U.S. and are exempt from newly announced tariffs on imported vehicles and components. The company also noted that 67% of Mullen’s and 71% of Bollinger’s parts are sourced from U.S. suppliers.
“Our goal is to U.S.-source as much as possible, ensuring stable pricing and cost-effective fleet electrification,” said David Michery, CEO and chairman.
Mullen’s lineup includes the Class 1 Mullen ONE cargo van and Class 3 Mullen THREE cab chassis truck, both compliant with U.S. safety and emissions standards.
Bollinger’s B4 chassis cab, an all-electric Class 4 truck with a 158-kWh battery, is built for durability and fleet needs. Customer deliveries began in October 2024.
With high domestic sourcing and compliance, Mullen and Bollinger are well-positioned amid evolving trade policies.
Lucid Helped by Tesla Hatred
Lucid Motors is riding a wave of momentum in early 2025, with sales surging as the EV maker gains traction—especially among former Tesla owners.
The Newark, California-based company reported 3,109 vehicle deliveries in the first quarter, marking a 44% increase compared to the same time last year. Production numbers came in at 2,212 vehicles, with another 600+ currently en route to Saudi Arabia for final assembly. Lucid is majority-owned by Saudi Arabia’s Public Investment Fund.
Tesla’s recent struggles may be Lucid’s gain. In a statement last month, Lucid CEO Peter Rawlinson said more than half of the company’s new orders were placed by customers who previously drove Teslas.
The shift comes as Tesla faces increased competition and criticism over quality and customer service, opening the door for newer EV players like Lucid to capture a growing slice of the electric vehicle market.