So far, major automakers aren't yet hunkering down for a bruising global trade war at the hands of President Trump.
Or so says BlackBerry (BB) - Get Report CEO John Chen. The well-regarded Chen has pivoted BlackBerry towards being a player in the connected car space with its QNX software. Sales in BlackBerry's tech solutions segment surged 31% year over year in the most recent quarter, supported by growth in the auto sector.
"I have not heard any slowdowns at all," Chen told TheStreet when asked about the impact of new auto related tariffs. "I don't sense any lack of investment in this area."
The luxury automaker said fewer-than-expected Mercedes SUV sales, as well as higher costs that can't be passed on to customers, need to be factored in to its new 2018 earnings projections "because of increased import tariffs for US vehicles into the Chinese market." Daimler now sees full-year earnings that are "slightly below" 2017 levels and full-year Mercedes-Benz Vans earnings that are "significantly" lower.
Watch more markets analysis from TheStreet here.