Europe’s luxury OEMs concede no tariff relief is coming

Mercedes-Benz, Porsche and Aston Martin all flagged severe tariff impacts on 30 July, with Mercedes reporting a 68% H1 profit plunge to €1.3bn (US$1.49bn) and Porsche revealing a €400m hit from US import duties. Both automakers conceded a separate deal for European automakers is likely off the table; meanwhile, Aston Martin posted a 25% revenue decline to £454.4m (US$602m) after rushing to deliver three months’ worth of vehicles in 24 hours to beat tariff deadlines.