General Motors, Ford, and Stellantis anticipate nearly $10 billion in gross tariff costs for the year, primarily absorbing the costs rather than passing them onto consumers. Trump's reversal of EV regulations could help offset these financial burdens. In earnings calls, CEOs emphasized the financial advantages of deregulation. Ford CEO Jim Farley pointed to a multi-billion dollar opportunity, while GM's Mary Barra highlighted continued profit potential in traditional vehicles. Stellantis is reviving muscle cars, expecting significant profit increases, indicating a strategic shift in their production approach.
To build what customers really want is going to be a tailwind for us, said Ford CEO Jim Farley, citing what he called a multi-billion dollar opportunity over the next couple of years.
GM CEO Mary Barra had a similar message, calling Trump's regulatory policies a huge opportunity that allow the automaker to keep selling profitable trucks and SUVs while EV demand slowly builds.
Stellantis, meanwhile, is bringing back muscle cars and Hemi engines now that it's no longer obliged to produce EVs and fuel-sipping engines. And this will mean to us a lot of additional profit, said CEO Antonio Filosa, trying to steer a turnaround.
Trump ditched his predecessor's ambitious CO2 emissions targets and canceled California's EV mandates, although 11 states are suing to block that effort.
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