Donald Trump’s new car tariffs to ‘hit Europe | Tech News
Speaking completely to Express.co.uk, Tom stated: “At Auto Express, we’re tracking financial updates from manufacturers across the board — and the picture is sharply worsening.
“From Stellantis taking a £260 million hit and seeing US shipments down 25%, to Jaguar Land Rover cutting 500 managerial roles in the UK amid tariff‑driven sales slumps, it’s clear Trump’s trade actions are squeezing every corner of the industry. If this continues, the second half of the year could hit European carmakers hard.”
Vehicle exports are a main half of the connection between the U.S. and the UK with £8.3billion of items leaving the nation within the one 12 months to September 2024.
However, it’s not simply the UK that’s set to really feel the blow with Europe additionally struggling with their own 15% tariff, six instances larger than the two.5% fee in place earlier than the commerce warfare began.
Although decrease than the earlier 27.5% fee, evaluation exhibits carmakers are anticipated to lose billions. Volkswagen reported $1.5 billion (£1.1billion) within the first half of 2025, with US-imposed commerce tariffs taking a lot of the blame.
Luxury model Porsche defined the company had been pressured to cut its full-year revenue goal due to a $462 million hit from tariffs. This was now set to have a consequence on customers with price rises probably to be inevitable.
The manufacturers defined prices had been up between 2.3% and three.6% in July in a main blow to these looking out for a new vehicle. Porsche CEO Oliver Blume beforehand stated: “This is just not a storm that can cross. We proceed to face vital challenges world wide.”
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