US auto tariffs to add to India's Tata Motors' woes, says Investec

Tata Motors TAMO.NS will be disproportionately affected by 25% U.S. tariff on auto and auto parts imports, according to Investec

Says North America (NA), accounting for 33% of TAMO's volumes, was the only growth market for Jaguar Land Rover in FY25

Adds "hefty" 25% tariff substantial enough to dent JLR demand; operating profit likely to fall 2% CAGR over FY25-27

Says auto components maker Sona BLW SONB.NS, earning 43% rev from NA, to be impacted even as its "limited local supply chain exposure" makes it less vulnerable

Expects Samvardhana Motherson SAMD.NS to be least impacted

Lowers earnings estimates for TAMO and SONB

YTD, TAMO down 9%, SONB drops 22.5% and SAMD sheds 16%