The automakers Porsche, Mercedes -Benz Group and Aston Martin announced on Wednesday each with the painful impact of US President Donald Trump’s trade war – with a combined $ 889 million blow.
The German Porsche sports manufacturer said US duties resulted in a blow of 400 million euros ($ 462 million) during the first six months of the year, while the domestic Mercedes-Benz Group warned of a tariff impact of around € 370 million in the second quarter.
The British luxury car industry Aston Martin has also issued a warning of its profits, citing the impact of US duties and weak Chinese demand.
The London Stock Exchange listed, famous for its participation in James Bond’s flagship films and its history of economic ups and downs, said the “evolving state of duties in the US did not help our activities” until June.
Collectively, luxury automakers warned of combined costs exceeding 770 million euros, or $ 889 million, from US duties.
Source: Skai
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