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Trump Auto Tariffs: How Major Car Brands Would Be Affected
GM and Ford
US International Trade Commission report in 2024 sees only about a 5% increase in prices for a 25% tariff in car imports into the US from EU, Japan, Canada, Mexico and China.
With US production GM at 60% Ford at 80%, both companies are better positioned to shift production to the US following 25% tariff on cars imported into the US. GM also has the financial strength to invest in new auto plants in the US. Given a period of transition US companies are in a position to tap the added demand as more cars are made in the US.
Stellantis
Stellantis formed from the merger of Chrysler, Fiat and Peugeot makes many of its cars overseas in Mexico and in the EU, and has considerable exposure.
Toyota
Toyota sales in 2024 were 2.3 million cars, with about 60% of the production in the US.
Hyundai and Kia, Nissan
Hyundai makes about 80% of the 840,000 cars it sells in the US in US plants. Hyundai plans to invest $21 billion in the US to make cars in the US including $5.8 billion for a steel plant in Louisiana. Other companies may follow Hyundai to Make in the USA.
VW
VW had plans for an expansion to make 590,000 cars. It has current sales of about 400,000 cars in the US. Expansion at the Chattanooga plant or putting in another plant could help it make most of its cars in the US.
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