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Last week, it was announced that President Donald Trump's new 25% tariffs on Mexico and Canada would exempt vehicles that comply with the USCMA trade deal. German carmaking giant Volkswagen told CNBC that its operations meant it would be exempt from the levies.
Here is how Bayerische Motoren Werke AG (BAMXF) and XPeng Inc. Sponsored ADR (XPEV) have performed compared to their sector so far this year.
Volkswagen said Thursday that its vehicles made in North America comply with the United States-Mexico-Canada Agreement (USMCA), meaning they will likely avoid being subject to the 25% tariffs U.S. President Donald Trump has imposed on imports from Mexico and Canada which do not comply with the trade deal's rules.
BMW said on Saturday it is rethinking its timetable for manufacturing all-electric Mini cars in Britain, citing uncertainties facing the industry.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
BMW does not see the need to negotiate a special deal with the United States to avoid import tariffs, its chief purchasing officer said, pointing to the carmaker's sizeable presence in the country and good relations with U.S. government officials.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
BCBP, BNPQY and BAMXF have been added to the Zacks Rank #5 (Strong Sell) List on February 3, 2025.
BMW will propose this week that the European Union lower its tariff on U.S. car imports to 2.5% from 10%, in line with the current U.S. import tariff, the German automaker's CEO Oliver Zipse said on Tuesday.
BMW expects its earnings before taxes in the fourth quarter to be significantly below last year and for its full-year margin to be in the lower half of its 6-7% target, according to slides posted on the carmaker's website on Tuesday.