Porsche had a similar problem in the 2000s. The euro went from $0.83 in 2000 up to $1.60 in 2008. But this time they were prepared. They purchased long-term put options on the dollar and made enough to offset their losses.

For a few years they were making as much off their currency hedging as they were from selling cars. Some stock analysts accused them of speculating on currencies. But it wasn't speculation, it was merely successful hedging.

 

I think the Japanese suffered just as much. Nineties Supra, 300ZX, RX8, and GT3000 prices all climbed like crazy and as a result, sales plummeted for them too.

 

I think it was the threat of tariffs that got the Japanese. They moved production to Korea.