Auto Stocks Slide as Tariffs Hit: Polestar Drops 7%

Apr 03, 2025

U.S. auto stocks faced widespread declines as new tariffs took effect. Notably, Polestar Automotive (PSNY, Financial) fell nearly 7%, while Tesla (TSLA) slipped over 3%. Other automakers like Nio, Li Auto, Xpeng, Toyota, and General Motors also experienced losses. These declines follow the implementation of a 25% import tariff on cars announced by U.S. President Trump. The policy also includes tariffs on certain auto parts scheduled to take effect by May 3. Analysts from Bank of America suggest that these tariffs could reduce car demand by millions and increase the risk of production halts.

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