President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday. Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands including Audi, Lamborghini and Porsche.

Motor industry giant Ford says it expects tariffs to cost it about $2bn (£1.5bn) this year, which is more than previously expected, despite building most of its cars in America. The company says it had already paid an extra $800m in duties in the three months ending in June.