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Trump’s Tariffs Turn Porsche’s Headwinds Into a ‘Violent Storm’
German automobile companies have made some bad bets on China sales. Sales in China have collapsed for Porsche as Chinese are buying local Chinese products and local Chinese autos are competitive. NYT reports on Porsche and the bad bet on China sales, then as tariffs hit serious problems.
Oliver Blume Porsche CEO says-
"Our market in China has literally collapsed. U.S. import tariffs are weighing on our business.”
“We already faced massive headwinds last year — now we are experiencing a violent storm."
Audi, Mercedes and BMW have been caught in a storm by making most of their US sold cars in Germany. The warnings from the first DJT term were ignores as they were by Apple in the US which continued to make in China. These companies are now facing problems of acting within a short time to take action to build in America to avoid tariffs.
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