2586170819
Mazda, Subaru, and General Motors will be hardest hit by the 25% tariffs being imposed on exports to the US.
That’s a key finding of research from Jato Dynamics. It found that Mazda sold 1.28 million new cars globally in 2024 – 343,000 of these were vehicles imported and sold in the US.
The US accounted for 71% of Subaru’s total car sales in 2024. While a large portion of these vehicles were produced at its factory in Indiana, imports into the US still made up 26% of the brand’s total volume globally.
General Motors is highly dependent on the U.S. market. Sales of imported vehicles in the U.S. made up 18% of GM’s total global sales. That was the highest percentage among the world’s five largest automakers.
In 2024, the US made up less than 10% of Volkswagen Group’s global sales. As a result, the German manufacturer, alongside
Honda, is less exposed than other major carmakers; however, this level of protection will be offset by the fact that vehicles made abroad account for approximately 80% of its sales in the US.
Felipe Munoz, Global Analyst at JATO Dynamics, said: “The US is a vital market to 14 of the 18 non-Chinese global carmakers. For the likes of Volkswagen, the US contributes a relatively small amount of the brand’s total revenue, but it will seek to hold a presence to retain its position as a global brand.
“Alongside Volkswagen, it is likely that Volvo, Hyundai-Kia, Mercedes, BMW, Stellantis, Toyota, Nissan, Subaru, and General Motors will need to increase their production footprint in the US in the near future. The US is a market that they can’t leave.”
