Aston Martin has reported a dramatic escalation in losses as Donald Trump’s new tariffs on UK car imports and weakening demand from China batter the luxury carmaker’s finances.
The company posted a £112 million pre-tax loss in the three months to September, compared with just £12 million during the same period last year — an increase of more than 800 per cent. Revenue plunged 27 per cent to £285.2 million, reflecting what the company described as “extremely subdued” trading conditions in key export markets.
Shares in the FTSE-listed automaker fell nearly 6 per cent on Wednesday as investors reacted to the latest in a series of profit warnings from the iconic British brand.
The company blamed the deepening impact of US import tariffs, introduced by President Trump earlier this year, for much of the financial pain. The White House imposed 10 per cent duties on UK-made vehicles, a move that has particularly hurt Aston Martin, which relies heavily on the US as a core luxury market.
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