Corporates
S&P Global Ratings rates over 4,600 corporates globally, giving us timely insight into cross-industry credit trends. This page is dedicated to delivering our most far-reaching, thought-provoking opinions to our stakeholders.
Tariffs Take The Wheel: Higher Prices, Lower Sales, Greater Risks For The North American Auto Sector
Prolonged tariffs on all auto imports into the U.S. along with tariffs on steel and aluminum will have a multi-billion-dollar impact on the earnings of North American automakers and suppliers.
As a result, we expect higher vehicle prices (in the 5%-10% range) for consumers and reduced domestic demand (in the 15.2 million-15.5 million range for 2025 and 14.8 million-15.1 million range through 2026 compared to our prior estimates of 15.7 million-16.0 million), which increases the likelihood of negative ratings actions in coming quarters.
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China Consumer Outlook: A Pressing Policy Initiative Takes Shape
China has made consumer stimulus its top economic objective. We believe the country's consumer-facing firms are entering a transitional phase, which will involve rapid gains for some and steep setbacks for others. Credit metrics will be unusually dynamic.
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