Trying to outrun tariffs one car at a time.

From Marketplace, I'm Sabrina Banishore in for David Brancaccio.

March Madness hit car dealerships last month, and we are not talking about basketball.

Buyers snapped up vehicles trying to get ahead of the tariffs.

President Trump is set to announce later today.

Marketplace's Nancy Marshall-Genzor has more. Carmakers is set to announce later today. Marketplaces Nancy Marshall

Gensar has more. Carmakers say sales soared last month. Hyundai Motor America says it had its

best March ever, with sales up 13 percent over the same time last year. Ford saw 10 percent

sales growth last month, and General Motors says first quarter U.S. sales spiked 17%.

Showrooms were crowded last month as buyers tried to beat tariffs. The Trump administration will

slap a 25% tax on imported vehicles starting tomorrow. There could be tariffs on car parts

next month. Cox Automotive expects vehicle sales to fall after the short surge in buying.

It says vehicle prices will increase by 10% or more, and some models could be eliminated if tariffs persist.

Cox says used vehicle prices will also be pushed up, and the tax on parts will increase car

maintenance, repair, and insurance costs, which, quote, vehicle owners are already struggling

to handle. I'm Nancy Marshall Genser for Marketplace.

U.S. businesses went on a hiring spree in March. That's what data from payroll processor ADP

suggests. According to its estimates,

companies added 155,000 jobs last month. That is more than economists we're expecting. It's also

a big jump from February when ADP reported just 84,000 jobs were created. And we're not reporting

this just because jobs are good, which they are, but because jobs can affect in this environment interest rates.

The Federal Reserve uses high interest rates to fight inflation, but high rates also slow down the economy.

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