Aston Martin limits US exports to offset Trump tariffs

The CEO of luxury car manufacturer Aston Martin has said the company is currently limiting imports to the US in a bid to offset the impact of President Trump’s newly imposed 25% tariffs.

In its Q1 2025 results, CEO Adrian Hallmark said that Aston Martin is leveraging stock already held by US dealers while the wider ramifications of the tariffs on the global economy remain uncertain.

For the quarter, Aston Martin reported a decline in revenue to £234m, down from £268m in Q1 2024, primarily due to a drop in Special edition vehicle volumes.

Gross profit also fell sharply to £65m (Q1 2024: £100m), impacted by a £15m investment to enhance software across its next-generation vehicle range.

Looking ahead to Q2 2025, the manufacturer expects a sequential improvement in performance despite continued tariff-related pressures. Total wholesale volumes are forecast to remain broadly in line with the same period last year, though the model mix will again be negatively affected by a lower number of Special edition deliveries.

This shift in mix, along with a planned three-week limited production during the rollout of a new enterprise resource planning system at its Gaydon headquarters, is expected to influence financial results for the quarter.

Despite the uncertainty, Aston Martin said it still expects to deliver “significant improvements across all key financial performance metrics” compared to the prior year.

Adrian Hallmark, Aston Martin Chief Executive commented: “As guided, Q1 wholesale volumes were in line with the prior year and retail volumes materially outpaced wholesales, reflecting our disciplined approach to production and stock optimisation. Core average selling price increased by 10%, demonstrating the positive impact of our recently launched range of ultra-luxury high performance models.

“We are carefully monitoring the evolving U.S. tariff situation and are currently limiting imports to the U.S. 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.

“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. 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. Alongside our drive for continued improvements across key areas of the business, the new core derivates and Valhalla are expected to support future growth and delivery of our 2025 key financial targets.”