A comparison of the consolidated financial results of the world’s major automakers for the January-June period of 2025 in U.S. dollar terms shows a clear downward trend in profits for all companies due to the negative impact of the imposition of additional tariffs by the U.S. Trump administration.
Many manufacturers took a cautious stance in passing on the additional tariff costs to selling prices, and absorbed the increased costs themselves, which pushed down profits.

On a published basis, Toyota has the largest additional tariff burden through June 2025 at $3.12 billion (450 billion yen), followed by VW (15.5 billion yen). The next largest tariffs were imposed on VW ($1.53 billion [1.3 billion euros]), GM ($1.1 billion), Honda ($830 million [120 billion yen]), Ford ($800 million), and others.
Other Japanese-affiliated automakers were Mazda ($480 million [69.7 billion yen]), Nissan ($480 million [68.7 billion yen]), and Subaru ($390 million [55.6 billion yen]). Some manufacturers have not yet announced.

Looking at sales by maker (in US dollar terms, excluding Japanese automakers whose fiscal year ended in March), VW had the largest sales at $179.65 billion, up 5.6% from the same period last year.
However, due to the appreciation of the euro (from 0.934 euros to the dollar in June 2024 to 0.850 euros to the dollar in June 2025), sales increased on a currency-equivalent basis, but declined 0.3% y-o-y in euro terms.
GM (+0.2% to $91.14 billion), Ford (+0.3% to $90.84 billion), and Stellantis (-4.0% to $87.41 billion) followed.