Reported about 20 hours ago
Ramzan Karmali discusses how Trump's tariffs are affecting automakers like Volkswagen and Kia. Volkswagen has reduced its financial outlook due to rising costs from U.S. duties, amounting to over $1.5 billion in the first half of the year. Likewise, Kia reported a $570 million drop in operating profits from U.S. tariffs and anticipates further losses. Both companies face challenges in their key markets, with Kia looking to increase U.S. sales without raising prices to combat tariff impacts.
Source: YAHOO