Ford, General Motors and Stellantis are more exposed to the new US tariffs than German and Japanese carmakers, new data from Jato Dynamics finds.

The US is a vital market to 14 of the 18 non-Chinese global carmakers

Last week, the US announced the imposition of tariffs on global imports, leaving the automotive industry facing yet another challenge.

Analysis by Jato Dynamics reveals that 16.1 million new light vehicles were sold in the US in 2024. Around 6.3 million were largely imported from Mexico, Canada, the European Union, the UK, Japan, and Korea – all of which will face a 25% tariff when exporting vehicles to the US. In addition, from 3 May 2025, these measures will be broadened to include automotive parts made outside of the country.

While the new trade policy is intended to boost domestic carmakers, they too will be impacted negatively. With a smaller global presence than some of their Japanese and European counterparts, US manufacturers rely heavily on domestic sales, meaning that tariffs on cars imported largely from Mexico, Canada, and Korea will be felt keenly.

Jato says Detroit’s ‘Big Three’ have been left vulnerable. In 2024, GM, Ford and Stellantis sold approximately 1.85 million imported light vehicles in the US, accounting for 13% of their combined global sales.

General Motors is highly dependent on the US market, ranking just behind Hyundai-Kia and Toyota in total vehicle imports in 2024. Its global footprint is largely concentrated in North and South America, China, and a few smaller markets. Notably, sales of imported vehicles in the US made up 18% of GM’s total global sales. That was the highest percentage among the world’s five largest automakers.

In comparison, Toyota, Honda, and Nissan – the three largest Japanese brands – sold 17.9 million units globally last year. Of this total, 1.53 million units were imported and sold within the US market, equating to 9%.

For Germany’s Volkswagen Group, BMW Group and Mercedes Benz, US demand for their imported cars accounted for 7% of their combined global total.

Some brands will suffer more than others. Mazda sold 1.28 million new cars globally in 2024 – 343,000 of these were vehicles imported and sold in the US. Meanwhile, 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.

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.”