BMW shares fell by 6.6%, Mercedes-Benz by 6.4%, and Volkswagen and Porsche by 4.3% and 4.9% respectively as investors scrambled to adjust to Trump's victory. The four firms were among the biggest fallers on Germany's DAX index.
Trump has promised to impose steeper tariffs on foreign-made cars to protect US jobs, including in the traditional automotive heartland of Michigan, a state that he regained after losing it in 2020.
The president-elect has said he wants to impose a 10% tariff on all non-US goods, and also indicated last month that he was considering targeting German cars. At a campaign rally in Savannah, Georgia, he said: "I want German car companies to become American car companies. I want them to build their plants here."
Machinery and vehicles are the EU's biggest exports to the US. It is also the biggest export market for German carmakers, which are under significant financial pressure.
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Denne historien er fra November 07, 2024-utgaven av The Guardian.
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'I constantly just think what if I didn't get Covid?'
Olympic 100m champion Noah Lyles on the Paris ups and downs that earneda key rolein thenewseries of Sprint
'adultification' Watchdog calls for of black children by police to end
The police watchdog for England and Wales has called for urgent measures to stop the \"adultification\" of black children by officers, but campaigners have said the revised guidelines do not go far enough.
Plan to halt arms aid
Donald Trump's plan to tap the retired US Lieutenant General Keith Kellogg as US envoy to Ukraine and Russia has triggered renewed interest in a policy document he co-authored that proposes ending the war by withdrawing weapons from Ukraine if it does not enter peace talks - and giving even more weapons to Ukraine if Russia does not do the same.
Liverpool fear loss of Konaté and Bradley for City clash
Liverpool could be without the defenders Ibrahima Konaté and Conor Bradley when Manchester City visit on Sunday, with Arne Slot admitting the early signs on the injuries they sustained against Real Madrid are not good.
'Worst experience of my life' Swiatek's positive test leads to one-month ban from tennis
Iga Swiatek, the women's tennis world No 2, has received a one-month ban after testing positive for the banned substance trimetazidine (TMZ) in August.
Hummels ruins Spurs' night with late leveller to delight Ranieri
Tottenham could have no complaints about dropping more points in the Europa League.
Nkunku and Mudryk keep Chelsea flying
Chelsea moved to within one win of the Conference League last 16 with victory in Heidenheim to maintain their perfect start in the competition.
Højlund doubles up to secure Amorim's maiden win after first-half scare
Ruben Amorim received a rapturous welcome from the Old Trafford congregation, then oversaw a helter-skelter victory in his first home as Manchester United's sixth No 1 of the post-Sir Alex Ferguson era.
Moshiri pledge over £451m loan if Everton sale drags on
Farhad Moshiri has agreed to convert his £451m loan to Everton into shares if the club have not been sold by the time new Premier League regulations on shareholder loans come into force.
Lampard out to prove critics wrong with Coventry return
Former Chelsea manager was 'outstanding candidate' says club's chairman
