US President Donald Trump on Wednesday announced a 25% tariff on cars imported from abroad. Trump’s decision has caused shares of Indian company Tata Motors to fall by about 6%.
Apart from this, shares of American automobile company General Motors fell by 3% on Wednesday.
The company sold 4 lakh cars worldwide in the financial year 2024. Of these, 22% i.e. about 88 thousand were sold in America. The company manufactures its cars mainly in Britain.
According to reports, the average price of new cars in the US is already around $49,000 (Rs 42 lakh). If new tariffs are implemented and their burden is put on customers, then the price of imported cars may increase by $12,500 (Rs 10 lakh).
According to news agency PTI, this tariff may increase the cost of vehicle manufacturers and lead to a decline in sales. American car companies import many of their auto parts from other countries.
European Commission President Ursula von der Leyen also expressed grief over America’s decision. She said that tariffs are bad for businesses and even worse for customers.
देश दुनिया की ताज़ा और अपडेटेड खबरों को पढ़ने और जानने के लिए विजिट करें Khabarindian
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