Aston Martin faces massive losses and reduces production amid falling Chinese demand (Instagram @astonmartin)
A Aston Martin is going through a challenging financial period, spending $1.8 million daily, totaling over half a billion dollars burned in 2024.
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In the last quarter, the automaker recorded a loss of $13.3 million before taxes, despite surpassing some forecasts. Issues like supply chain disruptions and declining Chinese demand led to a reduction of about 1,000 vehicles in its annual production forecast, along with a 17% drop in total sales compared to the previous year.
Sales of the DBX SUV, which previously represented half of the vehicles sold, have drastically fallen, now accounting for just 30% of the total. In contrast, the sports models Vantage and DB12 saw a 16% increase in deliveries, and demand for exclusive cars like the Valour and Valkyrie rose by 132%.
This shift in consumer preference, however, hasn’t been enough to secure Aston Martin’s financial stability for the remainder of the year, especially after a 50% increase in debt, which now totals $1.56 billion, about 40% higher than the total value of the company.
Despite this scenario, CEO Adrian Hallmark remains confident in the strategy adopted by the company. According to him, the actions taken to adjust production volumes and tackle challenges in the Chinese market reflect operational and financial progress. Hallmark believes Aston Martin is on track to meet the revised goals for the year, relying on the resumption of deliveries and increased sales of special models.
Source: Motor1.com | Photo: Instagram @astonmartin | This content was created with AI assistance and reviewed by the editorial team
