01:40 PM EDT, 03/27/2025 (MT Newswires) -- Consumer stocks were gaining Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.9% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.2%.

In sector news, President Donald Trump unveiled late on Wednesday a permanent 25% tariff on imported cars and light trucks, effective April 3.

In corporate news, Tesla (TSLA) will be the carmaker least impacted by Trump's 25% tariffs on car imports, while General Motors ( GM ) and German carmakers will be the most negatively impacted, RBC Capital Markets said in a note. While Ford (F) and Stellantis ( STLA ) may be negatively hit, "Tesla could benefit meanwhile, given domestic production and competition from imports into the US," the note said. Tesla shares rose 1.4% while GM shares fell past 7%, Ford dropped 2.7%, and Stellantis ( STLA ) was down 2%.