Various European automobile companies observed on Thursday a dip in the prices of their shares after United States President Donald Trump imposed a 25% tariff on all cars made outside the North American country. The European Automobile Manufacturers' Association (ACEA) then warned that the move will impact the sector in the world, including the US.
At 12:50 pm CET, Stellantis NV declined by 3.93%, Mercedes-Benz Group AG by 3.22%, Bayerische Motoren Werke AG (BMW) by 2.09%, Volkswagen AG by 1.98%, and Ferrari S.p.A. by 1.85%.
The DAX decreased by 0.79% or 182 points at 12:54 pm CET. Simultaneously, the CAC 40 dropped by 0.50% and the Euro Stoxx by 0.57%. The FTSE 100 lost 0.76% at 1:09 pm CET. The euro rose by 0.33% against the dollar to sell for $1.07905 at 1:10 pm CET as the pound sterling increased by 0.40% against the US currency to change hands for $1.29393.
