The stock prices of major automakers tumbled in Europe and Asia, followed by shares of key American carmakers in premarket trading early on Thursday, after President Donald Trump announced “permanent” 25% tariffs on imports of all cars and trucks into the U.S.
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Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2025/03/27/us-and-global-auto-stocks-tumble-after-trumps-25-tariff-announcement-tesla-shares-unaffected/
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NewsTranscript
00:00Following President Donald Trump's announcement of a permanent 25% tariff on all imported
00:05cars and trucks into the U.S., stock prices of major automakers in Europe and Asia fell
00:10sharply.
00:12Shares of key American carmakers followed suit in early trading on Thursday.
00:16General Motors dropped more than 8%, while Ford fell nearly 3%.
00:20Stellantis, the parent company of Jeep and Chrysler, declined 4%.
00:25In Japan, Tokyo-listed shares of Honda closed nearly 2.5% down to $9.65, Toyota's stock
00:33fell around 2% to $18.75, while Subaru's shares tanked nearly 5% to $18.60 on Thursday.
00:43Shares of European carmakers were also down sharply in morning trading, as shares of Volkswagen,
00:48BMW, and Mercedes-Benz were down 2.1%, 2.3%, and 3.55% respectively.
00:57Shares of Indian automaker Tata Motors, which owns Jaguar and Land Rover, were also badly
01:02hit, dropping more than 5.5% to $7.80.
01:07After slumping more than 5.5% on Wednesday, shares of electric vehicle maker Tesla have
01:12largely been unaffected by Trump's tariff announcement.
01:16Shares of Tesla ticked up 1.5% in early trading on Thursday.
01:20Unlike Ford and GM, which manufacture some of their top EVs in Mexico, all Teslas sold
01:26in the U.S. are manufactured in California and Texas.
01:29Despite the fact that this could allow Tesla to undercut its competitors, Trump insisted
01:33on Wednesday that Elon Musk, Tesla's CEO and the president's close aide, did not influence
01:39his decision and has, quote, never asked him for a favor in business whatsoever.
01:44For more on this story, read Syllabeta Ray's article linked in the description.