Aston Martin will split the costs resulting from U.S. tariffs between the company and its customers, and will sell down its U.S. inventory while limiting shipments there, the luxury carmaker's chief executive said on Wednesday.

Aston Martin is limiting exports to the US after President Donald Trump's trade tariffs struck a major blow to European and other global automakers last month.

Aston Martin cuts exports to the US amid tariff uncertainty, despite narrowing losses and rising average car prices, with net debt hitting a record £1.26bn.