European Automakers Benefit from Tariff Reduction

about 1 month ago

Chloe Malay

"Meanwhile, the automakers are bouncing a little bit higher because the auto imports, the agreement to go to 15% has now been implemented... Volkswagen, Stellantis, BMW, Renault all were up today on the back of that. Bloomberg Intelligence estimated that Porsche, Audi, Mercedes and BMW will gain a combined 1.3 billion euros in profit and cash boost in the second half of the year."

European automakers, including Volkswagen, Stellantis, BMW, and Renault, are experiencing a positive impact from the implementation of a lower 15% tariff which is being applied retroactively. This policy change is expected to deliver a significant profit boost in the second half of the year, supporting a bullish outlook for these stocks.