BMW, Mercedes-Benz, Porsche and Volkswagen shares dropped by up to 6.4% after Donald Trump was reelected for a second term. It was likely his plan to add new import tariffs on goods from abroad that sent the stock prices down. Trump has said he plans to impose tariffs as high as 75% if Mexico doesn't address his illegal immigration concerns.
He went on to say that if this doesn’t work, he intends to raise the tariff to 75%. This would make the situation especially bad for the German automakers, most of which either already have them or planning to build factories in Mexico.
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