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These Auto Stocks Are Plunging After Trump’s Tariff Announcement

These Auto Stocks Are Plunging After Trump’s Tariff Announcement

Published: by Omor IE

Key Points

  • Automotive stocks have been trending down sharply after Trump’s tariff announcement.

  • The Magnificent Seven stocks are delivering mixed performance, but the focus is on auto-related stocks today.

  • Tariffs for auto imports are expected to go into effect on April 3rd. For auto parts, they’ll be going into effect on May 3rd.

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President Donald Trump surprised the stock market yesterday by signing 25% tariffs on all auto imports. The automotive industry was expected to see some leniency from the administration, and many stocks staged a recovery rally due to the optimism last week. However, the optimism was short-lived due to new tariffs on auto imports. These tariffs are “permanent,” according to Trump.

Consequently, automotive stocks have plunged. Automotive companies rely heavily on foreign car imports and tariffs are either going to cut into their margins, or they are going to reduce sales if these companies pass on tariff costs to their customers. Moving manufacturing to the U.S. will also be expensive. Investors see this as a lose-lose for these companies and are selling off auto stocks. The broader market was also down slightly at open but has recovered.

Here’s a market update as of 10:45 A.M (ET) today.

  • The S&P 500 is up 13.7 points, or 0.23%.
  • The Nasdaq Composite is up 42.4 points, or 0.24%.
  • Dow Jones Industrial Average is up 2.23 points, or 0.005%.
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Auto Stocks Plunge

Automotive stocks are falling and are extending their losses. The only automotive stock that is up is Tesla (NASDAQ: TSLA), as it has been staging a recovery from earlier losses. Tesla also makes all the vehicles it sells in the U.S. at its manufacturing facilities in California and Texas, so it is expected to be more shielded from tariffs. Other auto companies have not been so lucky.

  • General Motors (NYSE: GM) is down 8.3%.
  • Ford (NYSE: F) is down 4.5%.
  • Honda Motor (NYSE: HMC) is down 2.9%
  • Stellantis NV (NYSE: STLA) is down 2.8%.
  • Toyota Motor (NYSE: TM) is down 2.7%.

Notable Winners Today

  • Nkarta (NASDAQ: NKTX) is up 45.4% after reporting Q4 2024 results. The company is laying off 34% of its staff and is restructuring.
  • MicroAlgo (NASDAQ: MLGO) is up 42.4% after an announcement that the company is issuing additional new shares to repay debt.
  • Soleno Therapeutics (NASDAQ: SLNO) is up 40.9% as the FDA approves Prader-Willi Syndrome drug.
  • Petco Health and Wellness Company (NASDAQ: WOOF) is up 35.6% as Uber (NYSE: UBER) adds Petco pet supplies for on-demand delivery.
  • Concentrix (NASDAQ: CNXC) is up 33% due to strong Q1 2025 earnings.

Notable Losers Today

  • 3D Systems (NYSE: DDD) is down 19.5% due to an EPS miss.
  • TD Synnex (NYSE: SNX) is down 17.7% as it misses Q1 sales targets.
  • Kyndryl Holdings (NYSE: KD) is down 12.3% after a short seller report.
  • GameStop (NYSE: GME) is down 12% as it is raising more money and closing stores to invest in Bitcoin.
  • Verint Systems (NASDAQ: VRNT) is down 11% after it posted disappointing Q4 2025 results with a negative revenue growth rate.

The image featured at the top of this post is ©anyaberkut / iStock via Getty Images.

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