European Auto Stocks Take a Hit

In a dramatic turn of events, shares of Europe's leading automakers experienced a significant drop this Friday. The cause? A sudden announcement from United States President Donald Trump imposing a 25% tariff on all vehicles not made in the USA.

Stellantis NV Reacts with Production Halts and Layoffs

Among the first to feel the impact was Stellantis NV, which announced temporary shutdowns at two of its assembly plants located in Canada and Mexico. This decision comes alongside plans to lay off nearly 5,400 employees, a move that has sent shockwaves through the auto industry.

Market Reactions in Real-Time

The stock market's response was swift and severe. By 3:42 pm CET, Stellantis' shares had plummeted by 7.07%, trading at €8.71 each. Not far behind, Volkswagen saw a 2.69% drop, with shares going for €89.82. The downturn continued with BMW and Mercedes-Benz experiencing declines of 4.01% and 4.71% respectively, highlighting the widespread concern over the new tariffs.