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Aston Martin is cutting jobs due to high debt. The company's losses in 2024 increased by 48,7 percent to 255,5 million pounds. Net debt was 1,16 billion pounds, an increase of 43 percent.
In this regard, Aston Martin will have to take an unpopular step: 170 people will be laid off in the near future, which is five percent of the company's entire workforce.
In addition, sales expectations for 2024 were not met, although the third and fourth quarters were relatively successful. Forecasts for 2025 did not impress analysts and Aston Martin shares fell by more than nine percent.
“The lower-than-expected sales forecast for 2025 and the need to stimulate sales highlight the weakness in demand for luxury and sports cars,” Barclays analysts said, with Lamborghini and Ferrari, for example, reporting record sales.
The workforce reduction, according to the brand's head Adrian Hallmark, will save 25 million pounds. The top manager, who came from Bentley, remains optimistic: he said that Aston Martin has already adjusted its production plan taking into account weak sales in China and other macroeconomic factors.
Against this backdrop, it is difficult for companies to invest in new products. The release of an electric car, as is known, has been postponed until the end of the decade. However Valhalla hybrid will be launched: Hallmark has high hopes for it, expecting that the 1079-horsepower supercar will help to make significant profits in the second half of the year. Previously, he set himself the ambitious task of making Aston Martin financially successful in just a year and a half.
