Tesla (TSLA) CEO Elon Musk has finally unveiled his pet project.

The Zacks Analyst Blog Highlights: Tesla, Ford, General Motors and Fiat.

President Trump's expanding trade wars have inflicted heavy damage on U.S. and global automakers. Trade tensions with China helped push 24 global auto stocks down an average of 12% in May through Thursday, including General Motors Co. (GM) and Ford Motor Co. Now, the group is suffering more declines in Friday trading after Trump announced plans to impose tariffs on all Mexican goods by June 10. If the Mexico tensions continue, auto stocks could drop an additional 5% to 10% in the second half of 2019, wrote Evercore ISI analyst Chris McNally in a note, per a detailed Bloomberg report.

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