Auto Stocks Rise On Trump's Comments About Supporting U.S. Car Companies

Shares of major automakers such as Ford Motors Inc. F, General Motos Inc. GM and Stellantis Inc. STLA are trading higher Monday after President Donald Trump indicated he wants to support car companies navigating recent trade changes.

What To Know: Speaking during a meeting with Salvadoran President Nayib Bukele at the White House, Trump said some automakers "need a little bit of time" to adjust supply chains and shift production of parts to the United States. He stated he's "looking for something to help" those companies as they make the transition according to CNBC.

Trump's comments follow his recent imposition of a 25% tariff on imported vehicles, which took effect on April 3. While some other tariffs have been reduced and companies like Apple were granted exemptions, the automotive tariffs remain.

Ford and Stellantis have launched temporary employee pricing programs to offset consumer pressure. Others, like Jaguar Land Rover, halted U.S. shipments entirely, and Hyundai Motor has pledged to hold prices steady for at least two months.

Price Action: Ford share were up 4.07% at $9.71, General Motors shares were up 3.77% at $45.28 and Stellantis shares were up 5.19% at $9.32 at the time of writing, according to Benzinga Pro.

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