06:41 AM EDT, 03/27/2025 (MT Newswires) -- Car prices in the US are expected to increase by $5,000 to $10,000 on average amid the Trump administration's latest auto tariffs, Wedbush Securities said Wednesday.

President Donald Trump has announced new tariffs on foreign-made cars, including a 25% tariff on all cars made outside the US, the brokerage said in a note to clients.

"In our view, these initial tariffs (if they hold in their current form) would be a hurricane-like headwind to foreign (and many US) automakers," Wedbush said. "We continue to believe this will be ultimately finished cars which is less onerous for [General Motors ( GM ) ] and Ford (F)."

Electric vehicle maker Tesla (TSLA) is likely to be "less exposed" to tariffs as its production and assembly is entirely in the US, according to the note.

GM shares were down 6.5% in recent premarket activity Thursday, while Ford fell 3%. Tesla was up 0.7%.