Aston Martin Lagonda has scaled back its exports to the United States as it assesses the potential impact of President Trump’s shifting tariff policies on demand for its luxury vehicles.
The British carmaker, known for its Vantage, Vanquish, DB12 and DBX models, said it was “carefully monitoring the evolving US tariff situation” and was currently limiting exports while relying on stock held by US dealers. The move comes amid significant uncertainty over the US administration’s stance on car import duties, which has created headwinds for premium exporters like Aston Martin.
“Potential ramifications on the global economy from the recently announced US tariffs remain uncertain,” the company said in a statement alongside its first-quarter results.
The US is a vital market for the marque, with the Americas accounting for about a third of total sales — the majority of which are in the United States. While the tariffs’ financial impact on Aston Martin’s affluent customer base may be limited, the company fears prospective buyers may hesitate to purchase until pricing clarity emerges.
Trump signalled overnight that he may be prepared to soften some of the import charges, though details remain unclear. Aston Martin admitted it still does not know how sentiment among its buyers will be affected, noting that some may absorb price increases while others could delay purchases.
The company had previously lowered its 2025 sales guidance in response to the tariff threat. It now expects only modest wholesale volume growth this year, revising down from its earlier forecast of mid-single-digit percentage growth.
Despite the geopolitical concerns, Aston Martin reported a narrowing of pre-tax losses for the quarter to £79 million, down from £142 million a year earlier. This was driven in part by improved financial management, though operating losses increased slightly to £67 million. Revenue fell 13 per cent to £233 million, reflecting a dip in high-margin “specials” sales, though this was partially offset by a 10 per cent rise in average vehicle prices to £193,000.
Vehicle deliveries in the quarter rose marginally to 950 units, up from 945 a year earlier. However, profit margins were hit, sliding nearly 10 percentage points to 27.9 per cent.
Cash burn totalled £120 million for the quarter, an improvement from the £190 million outflow in the same period last year. Yet concerns over the company’s balance sheet remain, with net debt rising to a record £1.26 billion following a near one-third drop in cash reserves since January.
Aston Martin shares, which have been battered in recent months following a fundraising round and downgraded guidance, were steady in early trading on Wednesday, dipping slightly to 69.85p.
Looking ahead, the company said it expects a “sequential improvement” in its performance in the second quarter, despite the continued drag from US tariff uncertainty.
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Aston Martin limits US exports as Trump tariffs cloud outlook and losses narrow