Tariffs Give European Autos Worst Possible Start to Year -- Market Talk

Dow Jones01-19 21:50

1350 GMT - It is difficult to see how 2026 could have started much worse for EU auto manufacturers, Citi analysts write. Auto stocks are down Monday on new 10% import tariffs announced by President Trump on key European auto-production countries. Assuming they are implemented, it would raise auto-import tariffs back to 25% from 15%. This could add a further 500 million-1 billion euros to annual tariff costs for German automakers, or 1.2 billion-2 billion euros if the rate rises to 25% by June 1, Citi says. Even more damaging might be the volatility and "investability" of European autos, Citi adds. Manufacturers might now have to guide more cautiously to avoid a repeat of 2025 profit warnings and uncertainty. Porsche, Volkswagen, Mercedes-Benz, and BMW earnings are most exposed, in that order. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

January 19, 2026 08:50 ET (13:50 GMT)

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This could add a further 500 million-1 billion euros to annual tariff costs for German automakers, or 1.2 billion-2 billion euros if the rate rises to 25% by June 1, Citi says. Even more damaging might be the volatility and \"investability\" of European autos, Citi adds. Manufacturers might now have to guide more cautiously to avoid a repeat of 2025 profit warnings and uncertainty. Porsche, Volkswagen, Mercedes-Benz, and BMW earnings are most exposed, in that order. 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