Tesla suppliers in India hit by Trump’s 25% Auto Tariffs
Tesla suppliers in India, including Tata Motors and key auto parts makers, saw sharp declines on Thursday after U.S. President Donald Trump unveiled plans to impose 25% tariffs on all imported cars and auto parts.
According to the Trump Administration, the U.S. President’s 25% tariffs will hit imported cars and light trucks coming into the United States by April 2, 2025. By May 3, 2025, Trump’s tariffs will extend to include auto parts. The decision sent shockwaves through the global auto industry, with Tesla CEO Elon Musk noting on X that the impact on the EV giant is “significant.”
Despite Musk’s words, many believe that Tesla will benefit from Trump’s tariffs. Although, it would probably adversely affect Tesla’s plans to enter the Indian market. Tesla has already started the certification process for two vehicles in India.
Following Trump’s tariff announcements, Tata Motors dropped 5%, while Sona Comstar, Tesla’s largest Indian supplier, fell over 4%, dragging the auto sector down 1.2% in India, the world’s third-largest auto market. Reuters reported that Tata Motors-owned Jaguar Land Rover (JLR), which exports luxury vehicles from the UK and Slovakia, relies heavily on the U.S. as a key market.
Other Indian suppliers felt the strain as well. Samvardhana Motherson, a major auto parts provider, slipped over 2%. Meanwhile, Tesla supplier Bharat Forgedipped by 0.4%. The U.S. accounts for 20% of Samvardhana’s revenue and 40% of Sona Comstar’s, with North America as its dominant region. The downturn echoed broader losses among global carmakers like Toyota, Hyundai, Stellantis, and Ford–all of which saw shares slide after the tariff news broke.
The post Tesla suppliers in India hit by Trump’s 25% Auto Tariffs appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-tata-motors-trump-auto-tariffs/
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