Automotive firms, including Tesla (TSLA), Ford (F) and General Motors (GM), are expected to face pressure from the new tariffs, but the impact on the quarter will vary, BofA Securities said in a note Monday.

Of the three, Tesla is expected to be vulnerable because of its battery supply chain, BofA said.

Tesla's Q2 is expected to be difficult due to "disappointing" vehicle deliveries, tariff exposure and the phase-out of Inflation Reduction Act incentives.

The Robotaxi launch in Austin, while encouraging, is unlikely to have a meaningful financial impact in the short term, the note said.

BofA raised its price target on Tesla to $341 from $305.

Meanwhile, Ford is poised to outperform in the quarter due to strong North American sales, a favorable product mix and foreign exchange tailwinds, BofA said. Although tariffs remain a pressure point, demand looks solid for Q3, partly driven by discount campaigns, the note added.

General Motors, which is expected to see the most direct hit in Q2, is likely to report subdued quarterly results due to a weaker vehicle mix, especially from reduced production of the T1XX truck platform, and tariff exposure, BofA said.

Price: 329.17, Change: -0.48, Percent Change: -0.15