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This prediction relies on public comments made by leaders from Volkswagen, BMW, Mercedes-Benz, Stellantis, and Volvo Cars, and pertains to 2025 and the initial three months of this year, the publication explains.
At the start of April 2025, the United States increased tariffs on European automobiles from 2.5% to 27.5%. The article mentions that even though the rate was lowered to 15% in August following the US-EU trade agreement, it has significantly impacted automakers.
The increase in tariffs has worsened the issues for European car manufacturers, who are already struggling with intense competition in China and the expenses linked to the shift to electric vehicles, as reported by the FT.
Volkswagen experienced the highest impact from US tariffs, posting costs of €3.6 billion attributed to Trump's tariffs, the newspaper states. BMW faced around €2.1 billion in duties, comprising tariffs on imports from the US and China into the EU. Mercedes-Benz faced €1.3 billion in tariffs, while Stellantis encountered €1.2 billion, although most of this company's expenses were tied to trade among the US, Mexico, and Canada, the article highlights.
source: ft.com
At the start of April 2025, the United States increased tariffs on European automobiles from 2.5% to 27.5%. The article mentions that even though the rate was lowered to 15% in August following the US-EU trade agreement, it has significantly impacted automakers.
The increase in tariffs has worsened the issues for European car manufacturers, who are already struggling with intense competition in China and the expenses linked to the shift to electric vehicles, as reported by the FT.
Volkswagen experienced the highest impact from US tariffs, posting costs of €3.6 billion attributed to Trump's tariffs, the newspaper states. BMW faced around €2.1 billion in duties, comprising tariffs on imports from the US and China into the EU. Mercedes-Benz faced €1.3 billion in tariffs, while Stellantis encountered €1.2 billion, although most of this company's expenses were tied to trade among the US, Mexico, and Canada, the article highlights.
source: ft.com
