Few winners as Trump's car tariffs hit US and foreign brands

As the fallout from US President Donald Trump's tariff plans comes into relief, a harsh truth is emerging for the automotive industry: There are lots of losers and not many winners.

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From South Korea's Hyundai Motor to Germany's Volkswagen and America's own General Motors, many of the world's most prominent carmakers will soon face sharply higher costs from Mr. Trump's new levies on auto imports and key components.

"There are very few winners," Mr. Sam Fiorani, vice-president of global vehicle forecasting for AutoForecast Solutions, said in a phone interview. "Consumers will be losers because they will have reduced choice and higher prices."

One notable winner in the tariff chaos is Mr. Elon Musk. His Tesla has large factories in California and Texas that churn out all the electric vehicles it sells in the US.

Ford Motor, too, could face a less severe impact than some rivals, with about 80 percent of the cars it sells in the US being built domestically.

Starting next week, the new 25 percent tariffs will apply to all imported passenger vehicles and light trucks, as well as key parts like engines, transmissions and electrical components, on top of any duties already in effect.