- Title: Tariffs will hit all automakers and consumers will pay for them - Expert
- Date: 27th March 2025
- Summary: ATLANTA, GEORGIA, UNITED STATES (MARCH 27, 2025) (REUTERS) (SOUNDBITE) (English) AUTOTRADER, EXECUTIVE EDITOR, BRIAN MOODY, SAYING: "Whenever new car prices go up, used car prices typically follow. And we're at a period right now where there's low inventory on used cars. Remember, just a few years ago, during the COVID-19 era, manufacturers were not making as many new cars
- Embargoed:
- Keywords: 25% tariffs Ford General Motors Jeep Kia Nissan President Donald Trump Stellantis assembly line auto auto parts automakers global economic growth imported cars investors light trucks manufacturers trade trade negotiation
- Location: VARIOUS
- City: VARIOUS
- Country: US
- Topics: Company News Markets,Economic Events,North America
- Reuters ID: LVA008214627032025RP1
- Aspect Ratio: 16:9
- Story Text: Wall Street's main indexes slipped on Thursday (March 27), as President Donald Trump's latest tariff gambit sent auto stocks into a tailspin while investors sifted through a slew of economic indicators.
In a late-night announcement on Wednesday (March 26), Trump unveiled his plan to implement 25% tariffs on imported cars and light trucks effective next week, while those on auto parts are expected to begin from May 3.
Automakers with sprawling supply chains crisscrossing North America took a hit. General Motors fell 8.2%, and Ford lost 2.7%. Car parts manufacturers like Aptiv and BorgWarner shed about 6% each.
Shares of Japanese, European, and South Korean automakers, who heavily depend on the U.S. as a key export market, also suffered setbacks.
(Production: Aleksandra Michalska) - Copyright Holder: REUTERS
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