European Auto Stocks Hit Hard by US Tariffs

The European automotive sector experienced a significant downturn following the announcement of 25% tariffs on all non-US-made vehicles by United States President Donald Trump. This move has sent shockwaves through the industry, leading to immediate financial repercussions for major automakers.

Stellantis NV Announces Production Halts and Layoffs

In response to the new tariffs, Stellantis NV has decided to temporarily cease operations at two of its assembly plants located in Canada and Mexico. This decision will result in the layoff of nearly 5,400 employees, marking a stark reaction to the escalating trade tensions.

Stock Prices Plummet Across the Board

The financial impact was vividly reflected in the stock market, with Stellantis' stock dropping by 7.07%, selling for €8.71 per share. Similarly, Volkswagen saw a 2.69% decrease, with shares going for €89.82. Not far behind, BMW and Mercedes-Benz experienced declines of 4.01% and 4.71% respectively, further underscoring the widespread concern within the industry.