Drivers of four popular cars warned after Donald Trump wins US election

Drivers of FOUR popular cars have been warned they could be adversely impacted by a Donald Trump presidency. German carmakers’ share prices have slumped amid fears Trump will impose steep tariffs on the industry after winning the US presidency for the second time.

BMW shares fell by 6.6%, Mercedes-Benz by 6.4%, and Volkswagen by 4.3%. The warning has also extended to Audi, too. 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.” Speaking previously at a campaign rally in Michigan, the hub for vehicle manufacturing in the USA, Mr Trump highlighted his plans to encourage more foreign car companies to begin producing models in America, stating he will offer a number of incentives.

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"Here is the deal that I will be offering to every major company and manufacturer on Earth: I will give you the lowest taxes, the lowest energy costs, the lowest regulatory burden and free access to the best and biggest market on the planet," he said.

Trump warned companies who import models from foreign countries that they could be hit with heavy tariffs during his presidency. He added: "[The deal] all goes away if you don't make your product here. And fire American workers for the job. If you don't make your product here, then you will have to pay a tariff, a very substantial tariff."

Shares in General Motors, the owner of Chevrolet and Cadillac, and Ford rose by 4% in pre-market trading. Stellantis, which owns several US car brands including Chrysler, Dodge and Jeep, gained ground on Wednesday morning in Europe. Milan-listed shares in the company, which also controls Fiat, Vauxhall and Peugeot, rose by 1.3%.