Move would create yet another challenge for European carmakers already struggling with falling sales and profits
German carmakers’ share prices have slumped amid fears Donald Trump will impose steep tariffs on the industry after winning the US presidency for the second time.
BMW shares fell by 7%, Mercedes-Benz by 6% and Volkswagen and Porsche by 5% as investors scrambled to adjust to Trump’s victory. The four firms were the biggest fallers on Germany’s DAX stock market index on Wednesday.
Continue reading…Move would create yet another challenge for European carmakers already struggling with falling sales and profitsBusiness live – latest updatesGerman carmakers’ share prices have slumped amid fears Donald Trump will impose steep tariffs on the industry after winning the US presidency for the second time.BMW shares fell by 7%, Mercedes-Benz by 6% and Volkswagen and Porsche by 5% as investors scrambled to adjust to Trump’s victory. The four firms were the biggest fallers on Germany’s DAX stock market index on Wednesday. Continue reading…