1056 ET - Don't be fooled by the strong-looking results that U.S. automakers will likely report for 2Q, Bernstein analysts say in a research note. Tariffs are pulling demand forward into the quarter, sending March and April volumes up by double-digit percentages with stable pricing and limited discounts, the analysts say. "But this is temporary, not a structural recovery," they say. The pull-forward will leave a demand vacuum for the second half of the year, they say. Tariffs will simultaneously increase costs for automakers, forcing them to raise prices and lower production, they say. The analysts believe Wall Street estimates for the auto sector in 2H and 2026 are still too high. They maintain underperform ratings for Ford, General Motors and Rivian, and a market-perform rating for Dodge and Jeep maker Stellantis. (dean.seal@wsj.com)
(END) Dow Jones Newswires
May 21, 2025 10:56 ET (14:56 GMT)
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