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Aston Martin is losing $1,8 million a day due to slumping sales of the DBX crossover, lower demand in China and supply disruptions. The sales plan will not be met: the forecast for 2024 is reduced by about 1000 cars.
In addition, the company's debts increased by almost 50% to £1,21 billion, which is 40% more than Aston Martin's market value. However, in the third quarter, financial and operational indicators improved slightly and turned out to be better than forecasts.
Adrian Hallmark, CEO of the British brand, remains optimistic. The top manager said that all necessary actions to adjust production volumes have been taken, and the updated plan takes into account the weak macroeconomic situation in China and disruptions in the supply of components. There are also positive points in sales: demand for DB12 and Vantage sports cars increased by 16 percent.
The difficult financial situation does not prevent the main shareholder of Aston Martin, Lawrence Stroll, from investing in the renewal of the model range and the development of the program in Formula 1. This year, Aston Martin managed to sign a contract with the outstanding designer Adrian Newey: there is no doubt that the engineer will be able to contribute to both racing and road cars.
And you just now have the opportunity to buy Aston Martin paraphernalia in our store - for yourself or as a gift.
