Aston Martin bleeding 1m a day as supply chain issues and china demand slump hit targets

Aston Martin Lagonda is facing significant financial challenges, burning through over £1 million a day and missing all 2024 targets due to production cuts and slumping demand.

CEO Adrian Hallmark has revised targets, cutting annual production by 14% to 6,000 vehicles, reflecting the sharp 54% drop in DBX sales in China, which heavily impacted revenue.

Despite ongoing challenges, Hallmark expresses optimism about Aston Martin's future potential, highlighting a diverse portfolio and a shift towards aligning production with market conditions.

Aston Martin's stock had a slight rise post-announcement, but shares remain far below their initial flotation valuation of £4.3 billion six years ago.

Read at Business Matters