European Auto Giants Cut Guidance

This is a U.S. news story, published by CNBC, that relates primarily to Jenni Reid news.

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car tariffs

CNBC

•

Technology

Auto giants ditch financial guidance as industry reels from Trump tariff chaos

Summary

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88% Informative

European auto giants report sharp drop in first-quarter profit and suspended or cut full-year financial guidance.

The corporate updates come shortly after Trump imposed a 25% tariff on automotive imports into the U.S. in early April .

Stellantis , which owns household names including Jeep , Dodge , Fiat , Chrysler and Peugeot , on Wednesday said it was withdrawing its full year financial guidance due to tariff-related uncertainties.

Germany 's Mercedes scrapped its 2025 earnings guidance and reported sharply lower first quarter profit.

However, the adjusted forecast does not take into account further effects of the introduction of US import tariffs," the company said in a statement. "Currently it is not yet possible to make a reliable assessment of the effects for the financial year ," it added. — CNBC 's Jenni Reid contributed to this report..

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formal

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English

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not hateful