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

Dow Jones

01/19

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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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. 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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. 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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. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MBGYY":"Mercedes Benz Group AG","VWAPY":"Volkswagen AG","BK4099":"汽车制造商"},"translate_title":"市场传言，关税给欧洲汽车带来了今年可能最糟糕的开局","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MBGYY":0.9,"VWAPY":0.9},"content_text":"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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 19, 2026 08:50 ET (13:50 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}