Donald Trump hasn't even taken the oath of office yet.
But already he is roiling the auto industry by expanding his long-running attacks on importers beyond the usual target, Ford Motor Co. -- first to General Motors over Mexican production of the Chevrolet Cruze and then to Toyota Motor Corp. over a plant it's building south of the U.S. border.
The dust-ups herald an era in which no company in today's highly globalized auto industry is safe from at least the rhetorical arrows of the incoming president.
Ford cited plunging demand for sedans, and not Trump's badgering, for its surprise decision to cancel a $1.6 billion small-car plant it had planned for central Mexico and invest a smaller amount in Michigan instead. Nonetheless, the decision creates the appearance that Trump can intimidate automakers into reordering their plans.
That's particularly ominous at a time when many automakers -- Mazda, Honda, BMW, Kia and Audi among them -- have committed years of planning and billions of dollars to developing new production capacity in Mexico.
Those plans now face heavy public scrutiny, even though the logistics and costs involved with shuffling vehicles among plants make widespread changes impractical. The ultimate impact on the industry depends on how hard Trump presses the issue, and his threat of a "big border tax" on imported vehicles, after his inauguration next week.
"We don't yet know what governing in a Trump administration looks like. We know what campaigning looks like," said Kristin Dziczek, director of the industry, labor and economics group at the Center for Automotive Research. Automakers "are not going to do things that don't make business sense because they've been Twitter-shamed."
But Trump's attention to the auto industry, and what it may mean for the next four years, is clearly on the minds of executives and shareholders. Toyota shares were down in Tokyo last week after Trump's barb on Twitter.
"Potential Trump administration intervention (including tax policy) will be an increasingly important consideration for automakers," said Efraim Levy, an equity analyst with CFRA Research. "We think such government pressures could have some negative effects on automaker competitiveness."