It's pretty clear that the Trump administrations tariffs have cost manufacturers billions in general, but it particularly seems to have impacted automakers. A new report suggests these tariffs already have cost the global car industry tens of billions. According to industry data, automakers have absorbed more than $35 billion in tariff-related expenses.
The figures come from a report by Automotive News examining financial reporting from major manufacturers. The analysis estimates that tariffs on vehicles, parts, and raw materials have collectively added at least $35.4 billion in costs across the industry over roughly the past year.
Toyota appears to have been hit the hardest, with the company projecting roughly $9.1 billion in tariff-related expenses for the 2026 fiscal year. Meanwhile, General Motors, Ford, and Stellantis together reported about $6.5 billion in added costs during 2025 alone.
The impact stretches well beyond those companies. Other global manufacturers, including BMW, Honda, Hyundai, Mazda, Mercedes-Benz, Nissan, Subaru, and Volkswagen has each reported or expected tariff costs exceeding $1 billion. The scale of the losses reflects how interconnected the global automotive supply chain has become.