Shares in Aston Martin Lagonda (AML) have plummeted on revised annual guidance and fresh supply chain issues affecting several of its suppliers. The luxury automotive manufacturer's stock is down nearly 20% to £1.28 on Monday after the Warwickshire company cut its sales guidance by 1,000 units "to address disruption in its supply chain and continued macroeconomic weakness in China.
" The company had previously said it would deliver high single-digit volume growth. "External factors within the global automotive industry, including supply chain disruption and weak demand in China, are now impacting Aston Martin's volume outlook for the remainder of 2024," the company said in a statement to the markets. "Concurrent with the significant ramp-up in production for the second half of the year, following new model introductions, the company is experiencing a growing number of late component arrivals due to disruption at several of its suppliers.
"As a result, an...
Ollie Smith.
