Auto sector rides higher on tariff delay

|About: Bayerische Motoren Werke ... (BMWYY)|By:, SA News Editor

Automaker stocks perk up after CNBC reports the Trump administration plans to delay auto tariffs by up to six months as negotiations continue.

German automakers are seeing the biggest bounce off the development, with BMW (OTCPK:BMWYY), Volkswagen (OTCPK:VWAGY) and Daimler (OTCPK:DDAIF) all up roughly 3% on European exchanges.

Any de-escalation of tariff tension is also positive for Ferrari (RACE +1.2%), Toyota (TM +0.9%), Honda (HMC +0.5%), General Motors (GM +1.1%), Ford (F +1.1%), Tesla (TSLA -0.4%), Fiat Chrysler Automobiles (FCAU +1.5%) Nissan (OTCPK:NSANY +0.3%), Hyundai (OTCPK:HYMLF) and Tata Motors (TTM -4.8%).

Related ETF: CARZ

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