Business
business

Volkswagen’s slapping an “import fee” on its tariffed cars in the US

Europe’s largest carmaker has already fired off its response to President Trump’s 25% tariffs on vehicle imports that went into effect Thursday.

Volkswagen told its US dealers that it’s adding an import fee onto cars affected by the levies.

Germany exports more cars to the US than any other European country, and as the country’s car leader, Volkswagen stands to take a lot of damage from tariffs. About 70% of Volkswagen’s US sales were Mexican-made vehicles last year. The company will reportedly send its dealerships tariff pricing strategies later this month.

Earlier this week, Volkswagen said it paused car shipments into the US from Mexico by rail and from Europe by ship.

With its import fee, VW joins other major automakers in quickly responding to the fresh import taxes. Stellantis is pausing work at plants in Canada and Mexico, GM is boosting its US truck production, and Ford is discounting most of its vehicles to drive sales.

Germany exports more cars to the US than any other European country, and as the country’s car leader, Volkswagen stands to take a lot of damage from tariffs. About 70% of Volkswagen’s US sales were Mexican-made vehicles last year. The company will reportedly send its dealerships tariff pricing strategies later this month.

Earlier this week, Volkswagen said it paused car shipments into the US from Mexico by rail and from Europe by ship.

With its import fee, VW joins other major automakers in quickly responding to the fresh import taxes. Stellantis is pausing work at plants in Canada and Mexico, GM is boosting its US truck production, and Ford is discounting most of its vehicles to drive sales.

More Business

See all Business
business

Netflix is down amid reports it’s leading the Warner Bros. bidding war as Paramount cries foul

Netflix’s charm offensive appears to be working.

Netflix is reportedly emerging as the leader in the bidding war for Warner Bros. Discovery after second-round bids this week, edging out entertainment juggernaut rivals Comcast and Paramount Skydance.

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

business

Delta says the government shutdown will cost it $200 million in Q4

The 43-day government shutdown that ended last month will result in a $200 million ding for Delta Air Lines, the airline said in a filing on Wednesday.

That’s about $100,000 per shutdown-related canceled flight. (Delta previously said it canceled more than 2,000 flights due to FAA flight reductions.) When the company reports its fourth-quarter earnings, the shutdown will lop off about $0.25 per share.

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.