The shares of Tata Motors Ltd. plummeted nearly 10% after its luxury unit Jaguar Land Rover decided to pause exports to the US in April in light of the auto tariffs announced by President Donald Trump.
“The USA is an important market for JLR's luxury brands. As we work to address the new trading terms with our business partners, we are enacting our short-term actions, including a shipment pause in April, as we develop our mid- to longer-term plans,” a spokesperson for the Range Rover maker said in response to an email from NDTV Profit.
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President Trump on April 2, had signed an executive order to charge 25% tariff on all foreign carmakers. The tariff is applicable on import of fully assembled cars immediately and auto components with a month's lag on May 3.
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India's carmakers are largely insulated from Trump's move as their exports to the US are miniscule. In 2024, India's car exports to the US were at $8.9 million—or 0.13% of its total car exports of $6.98 billion, according to the Global Trade Research Initiative.
But Tata Motors is likely to see a second-hand impact, by way of JLR.
Tata Motors Share Price
The scrip fell as much as 9.5% to Rs 555.55 apiece. This compares to an 4% decline in the NSE Nifty 50 Index.
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