President Trump announced a 25% import tariff on foreign cars, significantly affecting prices for vehicles from Germany, Japan, and South Korea. U.S.-assembled cars using foreign parts will also see price increases. While the tariffs will take effect on April 2, analysts suggest that Tesla, led by Elon Musk, may be less impacted compared to competitors. Despite this, Musk acknowledges the tariffs will still affect Tesla. The company's sales have recently declined, partly due to consumer backlash against Musk's political involvement. Tesla's first quarter sales are projected to fall by 14.5% from the previous quarter, indicating market challenges ahead.
However, one company likely to fare better than others is Tesla, the electric vehicle manufacturer led by close Trump administration adviser Elon Musk, industry analysts say.
Important to note that Tesla is NOT unscathed here. The tariff impact on Tesla is still significant,
Tesla is the one least impacted among U.S. carmakers, according to auto industry analyst Daniel Ives of Wedbush Securities.
Tesla's first quarter sales in the U.S. are expected to be down 14.5% from the final three months of 2024, according to a report released this week by Cox Automotive.
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