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Manufacturing

Tariff impact like ’08 financial crisis, COVID and chip shortage combined, Magna CEO says

Magna International CEO Swamy Kotagiri speaks to a group of reporters at an Automotive Press Association event.
Tariffs are already having a major impact on the auto industry, Magna International CEO Swamy Kotagiri said at an April 15 Automotive Press Association event. (JAKE NEHER/AUTOMOTIVE NEWS)
JI
By:
John Irwin
April 15, 2025 04:54 PM

DETROIT — The impact of tariffs on the auto industry is the combination of the 2008 financial crisis, the COVID pandemic and the microchip shortage, Magna International CEO Swamy Kotagiri said.

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