Aston Martinto cut 600 jobs amid US tariffs and weak China demand

British luxury carmaker Aston Martin announced plans to cut up to 20 percent of its workforce, approximately 600 jobs, due to widening annual losses. The company's net loss increased 52 percent last year to £493.2 million ($667 million) compared with 2024. Group chief executive Adrian Hallmark cited escalating geopolitical uncertainties and macroeconomic challenges, including increased tariffs in the United States and China, as key factors impacting consumer demand. While China remains a long-term growth market, demand there remained extremely subdued. The job cuts follow Aston Martin's limited US imports in April-May 2025 while awaiting a trade agreement, which later reduced tariffs on UK car exports to 10 percent from 27.5 percent on a 100,000-vehicle annual limit. The automotive industry outlook remains challenging amid uncertainties over additional US tariffs, China's ultra-luxury car taxes, and global supplier stability.

SOURCE: https://www.channelstv.com/2026/02/25/aston-martin-slashes-staff-as-us-tariffs-hit-carmakers/