Placement|Although Trump’s car duties can hit the German Porsche and Mercedes-Benz worst, US car manufacturers are also taking a hit. GM’s share price is in a drastic plunge.
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US President Donald Trump announced 25 % of import duties to all cars and their components.
Car manufacturers’ shares have fallen globally, including US companies such as General Motors.
German Porsche and Mercedes-Benz are expected to suffer the most, with up to a quarter of their operating results.
Car manufacturers Shares have been falling on Thursday through the world, after the US President Donald Trump reported 25 % of import duties to all cars and their components.
In addition to European and Asian car companies, US car manufacturers will also suffer from the customs.
According to Bloomberg news agency, the German automotive industry, which is the largest export to the United States, will be the worst in Europe.
German Porsche and Mercedes-Benz are expected to be the worst sufferers. As soon as the stock exchanges opened in the morning, both shares crashed to a downhill downhill.
At about half past five in the afternoon, Luisu had slipped and Porsche’s share was over 3 % downhill and Mercedes-Benz was down by four percent.
According to Bloomberg news agency, duties that came into force in early April could cut off a quarter of their operating results this year. To compensate for this, they must either raise prices or transfer production to the United States.
Many German car manufacturers already have production in the United States, but so far Porsche is not very little and Mercedes Benz is very little.
By the afternoon, a four percent downhill of the BMW and Volkswagen shares had also calmed down to over two percent downhill by afternoon.
The second highest number of cars in Slovakia, Sweden, Italy and Austria are exported from Europe to the United States.
Also In Asia, the shares of the automotive industry were downhill on Thursday. The courses of Japanese Toyota, Honda and Nissan fell by about two percent. The biggest drop was seen in Mazda Motor’s share, which fell to six percent.
Kia Motors in South Korea’s share cheap three percent and Hyundai brisk four percent.
Duties Also hit by US car manufacturers. Many of them make some cars in Mexico, Canada and China, or at least bring components from abroad.
This is done by Ford, General Motors (GM) and multinational car giant Stellanis, who manufactures both US and European brands. In the United States, it is known as the manufacturer of Chrysler and Jeep.
The toughest attack has been given to GM’s share, which is plump. On Thursday, half past five Finnish time, its share was about eight percent.
Ford’s share, on the other hand, was declining well over four percent. Already on Wednesday evening, it fell to five percent in the aftermarket of the stock exchange.
On Thursday, Stolland’s share cheaply fell on the European exchange and the decline continued on the New York Stock Exchange.