Luxury carmaker blames Trump tariffs as profits stall
Major carmaker warns of disruption caused by JLR cyber attack
- Aston Martin Lagonda forecasts underlying losses exceeding £110 million, marking its second financial downgrade since July and causing an 11 per cent share drop.
- The luxury carmaker attributes the revised outlook to challenging global macroeconomic conditions, specifically citing the ongoing impact of US tariffs.
- These tariffs are expected to lead to a mid-to-high single-digit percentage decline in wholesale volumes, with North America and Asia particularly affected.
- Supply chain disruptions, exacerbated by a recent cyber attack on Jaguar Land Rover, have also put immense pressure on smaller suppliers across the automotive sector.
- Aston Martin is undertaking an immediate review of costs and spending, while engaging with governments to secure clarity on tariffs and seeking more proactive support from the UK government.