• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Friday, August 22, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Business

Porsche, Aston Martin raise U.S. prices as 15% tariffs hit

David Ijaseun by David Ijaseun
August 1, 2025
in Business, Cars/SUVs, News
0
Aston Martin
1.4k
SHARES
11.5k
VIEWS
Share on FacebookShare on Twitter

Luxury cars from Europe just got more expensive for American buyers. Porsche and Aston Martin have raised prices to cover new import taxes, called tariffs, making it harder for drivers to afford top-end models.

What are tariffs, and why do they matter?

Tariffs are extra taxes that a government adds to products coming from other countries. They are meant to make foreign goods cost more, so people might buy local products instead.

READ ALSO

Timeless Wealth: Rolex, Patek ranked among the world’s top five luxury watch brands in 2025

Ferrari steals spotlight as Monterey car week auctions hit $432.8m

Starting in August, the U.S. will charge a 15% tariff on cars made in Europe. That means if a car costs $100,000, it now has a $15,000 tax added on top. Before now, that tax was just 2.5%.

This big jump in cost is forcing car companies to raise their prices in the U.S., so they don’t lose money.

Porsche, Aston Martin raise prices

Porsche raised its U.S. car prices in July by 2.3% to 3.6%. The company also said it lost $462 million because of these new tariffs in just six months. Porsche CEO Oliver Blume said, “This is not a storm that will pass,” showing that the company expects more tough times ahead.

Aston Martin also bumped up its U.S. prices. It warned that the new tariffs, along with weak car sales in Asia, are hurting its profits. So far, these two luxury carmakers are among the first to react to the new taxes.

What about other brands?

Other car companies are also losing money. Ford said it lost $800 million in one quarter because of tariffs. Nissan lost $535 million, and Renault reported a massive $12.8 billion loss.

Although other big brands like Mercedes-Benz and Volkswagen haven’t raised prices yet, many experts believe they might do so soon if costs stay high.

Mercedes CEO Ola Kaellenius said he doesn’t think the tariff rate will change. “For all intents and purposes, that global deal for now is it,” he told reporters. That means companies may have no choice but to keep prices up.

Why it matters to you

If you’re planning to buy a European luxury car in the U.S., you’ll now pay more, sometimes thousands of dollars more, because of these new taxes. And if more carmakers follow Porsche and Aston Martin, high prices might become the new normal.

Even if you’re not buying a luxury car, these changes could soon affect regular cars too. As automakers lose money, they may raise prices across the board to stay afloat.

Read more on Brazil urges U.S. to drop 50% tariffs on food, Embraer aircraft

Tags: Aston MartinHeadlinePorscheTariffs

Related Posts

Rolex Luxury wristwatch brand
Business

Timeless Wealth: Rolex, Patek ranked among the world’s top five luxury watch brands in 2025

August 22, 2025
Monterey Car Week 2025
Cars/SUVs

Ferrari steals spotlight as Monterey car week auctions hit $432.8m

August 22, 2025
Orbit electric bike limited
Cars/SUVs

How Orbit is building Nigeria’s EV future, one bike at a time

August 19, 2025
Nigeria’s auto industry dreams need funding, power, stability to become reality
News

Nigeria’s auto industry dreams need funding, power, stability to become reality

August 18, 2025
Electric vehicle sales
Electric Vehicles

Global EV sales slow to 21% growth in July as China cools, Europe surges

August 17, 2025
5 reasons you should attend the Nigerian Auto Assembly Summit 2025
Auto Assembly Summit 2025

5 reasons you should attend the Nigerian Auto Assembly Summit 2025

August 17, 2025
Next Post
Nigeria’s auto future at risk without clear law, says AAAM

Nigeria’s auto future at risk without clear law, says AAAM

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Hilda Baci new Range Rover

Hilda Baci receives Range Rover Velar SUV as birthday gift

February 23, 2024
Tesla sold 21,900 electric vehicles (EVs) in China

Tesla Stock gains $150 bn in market value as Musk Pledges Affordable EV and Cost Cuts

October 25, 2024
Autojournal Nissan Kicks 327 Edition

The Nissan Kicks “327 Edition”: A sneaker on wheels!

February 4, 2023
Boeing 767F

FAA’s new fuel efficiency rules signal end for Boeing 767F production by 2028

February 23, 2024

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Timeless Wealth: Rolex, Patek ranked among the world’s top five luxury watch brands in 2025
  • Ferrari steals spotlight as Monterey car week auctions hit $432.8m
  • Why Orbit’s CF-1 could be Nigeria’s first truly affordable electric vehicle
  • Auto Boss: Meet Kenneth Ukpabia, the founder who turned petrol pain to electric gain

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In