Can I exceed a trailer's ATM?

No. Doing so is illegal, dangerous and invalidates insurance. ATM is a hard limit set by the trailer manufacturer.

On the trailer or caravan compliance plate and in the registration paperwork. Some manufacturers also list it on a sticker near the door.

Is ATM the same as the towing capacity I should match my vehicle to?

Match your vehicle's braked towing capacity to the caravan's ATM (not its tare weight). Then double-check GCM is OK.

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What Is ATM? Aggregate Trailer Mass Explained

ATM (Aggregate Trailer Mass) is the maximum allowable weight of a fully loaded trailer or caravan when it is uncoupled from the tow vehicle and resting on its own wheels and jockey wheel.