Stellantis and Mercedes-Benz each yank their full-year guidance because nobody knows what’ll happen with tariffs
Like objects in mirror, tariffs these days are always closer than they appear. Citing the volatility in trade policy, Jeep maker Stellantis and luxury giant Mercedes-Benz both pulled their full-year guidance on Wednesday.
Stellantis said its North American shipments were down 20% on the quarter, while its net revenue in the market fell 25% to $16.4 billion — partially due to increased incentives. Mercedes reported a 49% plunge in first-quarter net profit, to $1.97 billion.
European rival Aston Martin also reacted to tariffs on Wednesday, saying it would limit exports to the US, where it made a third of its revenue last year. Volkswagen left its annual outlook mostly unchanged, but with the major caveat that its forecast “does not include any impact from tariffs recently announced.”
These moves come in spite of a minor bit of relief on Tuesday, when the Trump administration outlined some exemptions for automakers like the prevention of “stacking” tariffs (e.g. steel tariffs on top of auto tariffs) and the ability to apply for reimbursement for some vehicles finished in the US.
