Toronto, Ontario -- Over the past year, U.S. automakers have had to steer through a turbulent economic landscape carved by the Trump administration’s policies.
Chief among these has been the imposition of 25 percent tariffs on imported vehicles and parts, a move that has driven up costs and forced companies to rethink production and supply chains.
This week’s Tuesday Ticker looks at how the country’s biggest automakers have fared during the first year of the Trump administration.
General Motors
A year ago GM shares traded around US$60. Today they sit near US$58.79, a decline of roughly two percent.
Once considered synonymous with American prosperity, GM has become one of the biggest corporate casualties of the new tariff regime.
In its second quarter, the company said tariffs had cut about US$1.1 billion from operating results and warned total exposure could reach as much as US$5 billion by year-end. That forecast prompted a downgrade to its full-year guidance.
Even so, GM has managed to preserve pricing power in its profitable truck and SUV lines, with steady demand across its core U.S. markets. The company is countering tariff headwinds by investing heavily in domestic manufacturing and reshoring supply.
Ford
A year ago Ford shares traded around US$11.95. They now sit at US$12.72, a gain of about six percent.
Ford has also faced tariff-related costs, though its extensive U.S. manufacturing base and strong lineup of trucks and EVs have cushioned the impact. The company estimates the tariffs will cost it in the low billions—around US$1.5 billion—but solid margins in its best-selling segments continue to provide a buffer.
Recent sales strength in F-series trucks and the Mustang Mach-E has bolstered investor confidence, helping Ford’s stock outperform most legacy peers in recent months.
Tesla
A year ago Tesla traded near US$300. Today the stock sits at US$450.23, up roughly fifty percent.
While Tesla is less exposed to traditional import models, it remains vulnerable to tariffs on imported parts and raw materials.
Even so, its shares have surged over the past year, driven by record vehicle deliveries, surging EV demand and investor enthusiasm for its energy and AI ventures.
The company’s rapid growth has kept it ahead of its legacy rivals, though its global supply chain and commodity costs still present ongoing risks.
Stellantis
A year ago Stellantis traded near US$13.30. Today it stands at US$10.85, down about eighteen percent.
With major operations in both North America and Europe, Stellantis has warned that tariffs will weigh on second-half earnings after reporting about €300 million in related costs during the first half of 2025.
Its U.S.-listed shares have largely mirrored broader sector sentiment, moving sharply on trade developments and earnings outlooks.
The company’s global footprint leaves it particularly sensitive to tariff shocks, and investors have grown cautious as it navigates these challenges.
