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UK car exporter's shares slump to four-year low on trade war warning
A UK-based car distributor has seen its shares hit a four-year low after reporting a fall in sales and warning of hits ahead from Donald Trump's trade war.
Inchcape, which exports cars for manufacturers across more than 40 countries globally, saw its stock lose up to 16.9% in early trading on Wednesday after its first quarter trading update. It told investors that while it was not currently experiencing damage from the Trump administration's 25% tariffs on all US car imports, revenue fell by 5% over the three months to March to £2.1bn.
Money latest: Octopus Energy responds after being forced to ditch advert Inchcape reported a resilient performance from its Americas division but struggles in its Asia-Pacific and European markets. The period was dominated by trade war fears generally as the US president's second term got under way and was marked by a surge in demand for goods in the US in a bid to beat any tariffs he threatened to impose.
Inchcape blamed the revenue decline on a strong comparable period in 2024 and "mixed market momentum.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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