Bentley wary of US tariffs after profits drop in China

The boss of Bentley has warned that the carmaker would pass on the costs of threatened US tariffs to buyers, as the British luxury brand reported a drop in profits due to weaker demand from China.

- Jasper Jolly

The brand, owned by Germany's Volkswagen, reported an operating profit of €373m (£314m) in 2024, the fourth-highest in the company's 105-year history. However, that was down more than a third from €589m the year before.

Frank-Steffen Walliser, Bentley's chief executive since July, said it had been a "positive year despite the headwinds", but added the threat of tariffs from the US was hanging over the manufacturer. Donald Trump said last month that tariffs of up to 25% on cars would force manufacturers to shift production to America.