Core Viewpoint - The Trump administration's plan to impose a 25% import tariff on automobiles starting April 3 poses a significant threat to German luxury car manufacturers, potentially leading to a sharp decline in operating profits for companies like Porsche and Mercedes-Benz by approximately 25%, equating to a loss of €3.4 billion (around $3.7 billion) by 2026 [1][4]. Group 1: Impact on German Automakers - German automakers are particularly vulnerable due to their high dependency on the U.S. market, which is crucial for their exports, especially high-margin fuel vehicles like the Porsche 911 and Mercedes S-Class [4]. - If the tariffs are implemented, U.S. dealers for Porsche will have to absorb the entire import costs, while Mercedes, despite having assembly plants in North America, will still incur additional costs for imported components [4]. - The announcement has led to significant stock price declines in the European automotive sector, with Porsche's shares dropping by 5%, Daimler (Mercedes' parent company) falling by 5.2%, and other major brands like BMW and Volkswagen experiencing declines of over 4% [4]. Group 2: Broader Industry Implications - The tariff's implications extend beyond automakers to parts suppliers like Bosch and Continental, which may suffer from supply chain disruptions [4]. - The negative sentiment has also affected U.S. automakers, with Ford's stock dropping by 2.81% and General Motors falling by 6.5%, indicating a dual pressure on the global automotive supply chain [4]. - Manufacturers face tough strategic choices: either relocate production to the U.S. requiring substantial investment or raise prices, which could undermine their competitive edge [4]. Group 3: Industry Reactions - The President of the German Automotive Industry Association (VDA), Müller, criticized the tariffs as a "fatal blow" to the free trade system and warned that they would increase consumer vehicle costs [5]. - The European Union has threatened retaliatory measures, raising concerns that the U.S.-China trade war could spill over into the automotive sector, leading to systemic shocks in the global supply chain [5].
特朗普汽车关税令德系豪车承压 保时捷(POAHY.US)奔驰(MBGYY.US)或损失37亿美元