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Porsche, Aston Martin flag U.S. price hikes

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US-EU trade deal imposes 15% tariffs, averts larger trade

war

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Mercedes, Porsche cool hopes of auto specific trade deals

By Rachel More, Alessandro Parodi and Shashwat Awasthi

BERLIN, July 30 (Reuters) - European luxury carmakers

including Porsche and Aston Martin have

surged ahead with U.S. price hikes, which could point the way

for bigger brands to follow in their wake as companies pass on

the cost of tariffs.

The United States and Europe reached a trade deal that will see

EU-made cars hit with a 15% tariff from August, lower than once

threatened but far higher than the 2.5% rate before U.S.

President Donald Trump launched his trade offensive this year.

On Wednesday, Volkswagen's luxury brand Porsche said

it had raised U.S. prices by between 2.3% and 3.6% in July, with

no plans for now to establish a U.S. production presence - a

move that would let it avoid the levies.

"This is not a storm that will pass," Porsche CEO Oliver

Blume said after the company cut its full-year profit target and

flagged a $462 million hit from tariffs in the first half. "We

continue to face significant challenges around the world."

U.S. tariffs have pummelled global automakers, forcing companies

such as GM, Volkswagen, Hyundai and

Mercedes-Benz to book billions of dollars of losses,

issue profit warnings, slash forecasts and raise prices.

Ford Motor ( F ), which boasts domestic production for around

80% of the vehicles it sells in the U.S., said on Wednesday that

second-quarter results took an $800 million hit from tariffs and

higher U.S. levies would likely cost more than expected for the

year.

Japanese carmaker Nissan ( NSANF ) reported a $535 million

quarterly loss on Wednesday, impacted by U.S. tariffs,

restructuring and lower sales volumes.

British sports-car maker Aston Martin said it had made

incremental price increases in the United States since last

month, issuing a profit warning based on the U.S. tariffs impact

and prolonged suppressed Asian demand.

ADDITIONAL COSTS

While bigger carmakers have so far held off, other sectors have

seen price hikes as companies have looked to pass on the

additional cost of tariffs. Analysts said larger carmakers could

take similar steps in the second half of the year.

"Into H2, we are looking to gain additional visibility with

regards to the ability of Mercedes-Benz and the rest of the

premium OEMs to increase prices in the U.S. in order to offset

the impact of tariffs," J.P. Morgan said in a note.

European carmakers are also getting less optimistic that

they could seal extra sector-specific tariff reductions,

resigned to dealing with the 15% rate.

Mercedes CEO Ola Kaellenius told analysts on Wednesday that

the group was assuming tariffs would remain at 15%, throwing

cold water on hopes companies may be able to negotiate

individual deals.

"For all intents and purposes, that global deal for now is

it," said Kaellenius, also president of Europe's car lobby ACEA.

Any side deals were "very uncertain".

Volkswagen had said last week it was hoping investment

commitments could help it negotiate lower U.S. tariffs.

But Porsche CEO Blume, also head of VW, suggested there

would not be a separate U.S. deal for the automotive sector.

"I agree with Ola Kaellenius' assessment that there will not

be a separate automotive deal," Blume said.