Summary
Aston Martin has announced a significant reduction in its production targets for 2024, cutting its forecast by approximately 1,000 vehicles due to weak demand and ongoing supply chain issues. This downward revision reflects broader challenges faced by the automotive industry, particularly in the context of declining demand in China and disruptions among key suppliers.
The British luxury carmaker’s adjusted guidance now anticipates a decline in wholesale volumes for the year, moving from a previous expectation of growth to a high single-digit percentage decrease. CEO Adrian Hallmark highlighted the unprecedented scale of supply chain disruptions, including issues faced by blue-chip suppliers, which have been exacerbated by natural disasters and administrative challenges. Consequently, Aston Martin expects its adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) margin to fall into the high teens percentage range, down from the low 20s previously anticipated. This situation mirrors trends across the European automotive sector, where companies like Volkswagen, Mercedes, and BMW have also revised their forecasts downward amid similar market pressures.
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