🚀 Reaction to Trump's Auto Tariffs

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Wall Street analysts say Tesla is the biggest winner from Trump’s new 25% auto tariffs, which hit all foreign-made vehicles. While Detroit automakers face significant losses, Tesla, with 100% U.S.-based production, saw shares jump 5%. Analysts predict price hikes of $4,000–$5,000 on affected vehicles, squeezing margins and lowering consumer demand. While Musk warned Tesla isn’t “unscathed,” analysts see the company as “structurally insulated” from trade risks, with potential for stock recovery despite its 30% decline this year. Meanwhile, Rivian also benefited, rising nearly 5% on the news.

2. General Motors stock fell about 9% Thursday after Donald Trump announced 25% tariffs on cars “not made in the United States,” with GM hit hardest due to its reliance on Mexican and Canadian production. Roughly 30% of GM’s U.S. sales in 2024 came from vehicles assembled in those countries, compared to Ford’s 21% and Stellantis’ 39%. Analysts say GM’s exposure to Mexico and South Korea for small crossover production makes it particularly vulnerable. While Ford and Tesla fared better—Tesla even gaining 5%—GM stock is now down 13% year to date as investors worry about its tariff-related risks.

3. Ferrari announced a 10% price increase on select models starting April 2 to offset new U.S. auto tariffs, adding up to $50,000 to some vehicles. While its 296, SF90, and Roma models will remain unchanged, popular models like the Purosangue SUV and the F80 hypercar will see price hikes, with the latter jumping by over $350,000. Despite the increase, Ferrari expects minimal impact on sales given its year-long waitlists and ultra-wealthy clientele. The company reaffirmed its 2025 financial targets but warned of a slight profitability risk, while its stock edged higher amid broader auto industry losses.

4. Headlines

   1. Trump has warned that he will escalate the tariff war with Canada and the EU if their actions “do economic harm to the USA”.

   2. The US Commerce Secretary will consult with US Customs and Border Protection to determine how the US can enforce the new auto tariffs. Most cars assembled in the US consist of tens of thousands of parts, many of which come from Canada and Mexico.

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