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Domestic Auto Stocks Sink as Trump Tariffs Take Effect [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
That included shares of Tesla and other US-based EV makers. The former's stock was recently off some 5%. General Motors and Ford shares fell roughly 3%. Domestic carmakers' shares fell Thursday morning after auto-specific tariffs took effect at midnight. General Motors ( GM ) shares were recently down more than 3% from Wednesday's close, while Ford ( F ) shares retreated nearly 3%. Electric vehicle manufacturers were also hit, with Lucid Group ( LCID ) shares falling about 2% and Rivian ( RIVN ) off 4%. Tesla ( TSLA ) shares dropped more than 5% a day after its stock seesawed following disappointing deliveries numbers and reports that CEO Elon Musk may take a step back from his work with the Trump administration. Economists have warned that a 25% tariff on cars and auto parts would increase prices by thousands of dollars . Some analysts said manufacturers' would struggle to pass along higher production prices without depressing demand. Stellantis ( STLA ), the company behin
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