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Aston Martin limits US exports in response to tariffs; Losses narrow
(Sharecast News) - Luxury carmaker Aston Martin is limiting exports to the US in response to President Donald Trump's tariffs and also managed to post narrower-than-expected first-quarter losses. Trump slapped a 25% levy on all auto and parts imports, although he pledged some relief on Tuesday amid fears his measure could hurt US factories.
"We are carefully monitoring the evolving U.S. tariff situation and are currently limiting imports to the US. while leveraging the stock held by our U.S. dealers. We remain vigilant in monitoring events and will respond to changes in the operating environment as they materialise, Aston Martin said on Wednesday.
The company reported an adjusted pre-tax loss of £79.8m for the three-months to March 31, compared with £110.5m a year ago, and consensus estimates of £89m.
"In the year ahead, we will complement the core portfolio through the delivery of further derivatives including the DBX S, which expands our SUV range and offers customers even more power, reduced weight and a more assertive design," said chief executive Adrian Hallmark.
"We are now in the final testing phase of the groundbreaking supercar, Valhalla, our first mid-engined Plug in Hybrid Electric Vehicle, with deliveries set to commence in H2."
Reporting by Frank Prenesti for Sharecast.com
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