After President Donald Trump announced that the U.S. will impose a 25% tariff on imported cars and light trucks, effective April 3, BofA said Ford (F) is “relatively less affected and may even benefit” as it only imports a few models, which account for a “modest” 20% of its total volumes. General Motors (GM) appears relatively exposed to the tariffs as it imports 49% of its vehicles, the analyst added. Other original equipment makers with sizable import exposure to the U.S. include Tata Motors’ (TTM) Jaguar and Land Rover, Mazda (MZDAY), VW (VWAGY), Hyundai and Kia, Nissan (NSANY), BMW (BAMXF), Toyota (TM), Stellantis (STLA), Subaru (FUJHY), and Honda (HMC), the analyst noted.
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