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Auto Makers Forecast $5B War Cost as Aluminum Prices Surge

5/4/2026

23 5 Full Breakdown

Summary

Story summary

GM, Ford and Stellantis estimate the Iran war will add $5 billion to 2026 costs, with GM forecasting $1.5-$2 billion, Ford over $2 billion and Stellantis about €1 billion (?$1.18 billion) in commodity expenses.
Iranian missile strikes on March 28 knocked 3 million metric tons of aluminum capacity offline, driving LME aluminum futures to $3,492 per ton on March 30.
U.S. buyers have faced a 50% Section 232 tariff on aluminum imports since June 2025.

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Story summary

GM, Ford and Stellantis estimate the Iran war will add $5 billion to 2026 costs, with GM forecasting $1.5-$2 billion, Ford over $2 billion and Stellantis about €1 billion (?$1.18 billion) in commodity expenses.
Iranian missile strikes on March 28 knocked 3 million metric tons of aluminum capacity offline, driving LME aluminum futures to $3,492 per ton on March 30.
U.S. buyers have faced a 50% Section 232 tariff on aluminum imports since June 2025.