..for months now, I had cautioned to avoid all things Auto related. That includes EVs and Lithium.
Good Morning from #Germany, where car comps are the big losers in the tariff dispute between the EU and China. The European Commission formally notified automakers incl BYD, Geely, and MG owner SAIC Motor of the additional levies on EVs, which will take tariffs to as high as 48% from next month. German manufacturers that produce in China also have to pay tariffs and at the same time fear that China will take countermeasures to affect Chinese sales. Porsche is the biggest loser on the stock market, whose shares have lost 39% within a year. The share has lost part of its premium valuation and is trading at a 2024 P/E ratio of 14.
