Tesla (TSLA) and Rivian Automotive (RIVN) are likely to fare better after President Donald Trump signed an executive order
placing a 25% tariff on automobiles and parts imported to the US, UBS said in a Thursday report.
"We believe TSLA and RIVN could fare better as 100% of their
production is in the US (though not all components)," UBS said.
Once the tariffs take hold, UBS expects the initial action for original equipment manufacturers to be to reduce production in Mexico/Canada.
In the all important full-size pickup truck market, Ford (F) makes the F-150 in the US while General Motors (GM) does some Silverado/Sierra in Mexico/Canada, the report said.
"Eventually, we could see GM/F look to move production of some vehicles currently made in Mex/Can to the US," it said.
Price: 276.15, Change: +4.09, Percent Change: +1.50
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