Porsche, Aston Martin walks US prices like the hope of tariff sweeteners faded | Company Business News

* Porsche, Aston Martin Flag US Price Rise * US -EU trading transaction sets up 15% rates, average larger trade war * Mercedes, Porsche Cool Hopes on Motor -Specific Trading Transactions by Rachel More, Alessandro Parodi and Shashwat Awasthi Berlin, European luxury, including Porsche and the Way for Porsche. The Way for Porsche could have prevented brands to follow in their aftermath as businesses pass on the cost of rates. The United States and Europe have reached a trade agreement in which the EU-made cars of August will be hit by a 15% tariff, lower than once threatened, but much higher than the 2.5% rate before US President Donald Trump launched its trade push this year. On Wednesday, Volkswagen’s luxury brand Porsche said it raised US prices by between 2.3% and 3.6% in July, with no plans to now determine a US production presence – a move it could avoid the charges. “It’s not a storm that will pass,” Porsche CEO Oliver Blume said after the company reduced its full -year profit goal and marked a $ 462 million hit in the first half. “We still hold important challenges around the world.” US tariffs have worldwide car manufacturers, who forced businesses such as GM, Volkswagen, Hyundai and Mercedes-Benz to discuss billions of dollars in losses, reach out profit warnings, raise forecasts and raise prices. Ford Motor, which boasts domestic production for about 80% of the vehicles it sells in the US, said on Wednesday that the second quarter results would cost a $ 800 million hit and higher US charges than expected for the year. Japanese car manufacturer Nissan reported a quarterly loss of $ 535 million on Wednesday, which was influenced by US rates, restructuring and lower sales volumes. British sports car manufacturer Aston Martin said it has made increasing price increases in the United States since last month, with a profit warning based on US rates and prolonged oppressed Asian demand. Additional costs, while larger car manufacturers have held off so far, other sectors have seen price increases as companies have passed on the extra cost of rates. Analysts said larger car manufacturers could take similar steps in the second half of the year. “In H2, we are looking for extra visibility regarding the ability of Mercedes-Benz and the rest of the Premium OEMs to raise prices in the US to compensate the impact of rates,” JP Morgan said in a note. European car manufacturers are also becoming less optimistic that they can seal extra sector -specific tariff reduction, and resign with the handling of the 15%rate. Mercedes CEO Ola Kaellenius told analysts on Wednesday that the group accepted that rates would remain at 15%, and that they would throw cold water on the hope that businesses could possibly negotiate on individual transactions. “For all purposes, the global agreement is now,” says Kaellenius, also president of the Europe’s car -lobby Acea. Any side transactions were ‘very uncertain’. Volkswagen said last week it hopes investment obligations could help negotiate lower US rates. But Blume, CEO of Porsche, also head of VW, suggested that there would not be a separate US agreement for the car sector. “I agree with the assessment of Ola Kaellenius that there will be no separate car agreement,” Blume said. This article was generated from an automated news agency feed without edits to text.