Aston Martin shocked investors today with a warning that it will make around 1,000 few cars than expected this year as a result of “disruption in its supply chain and continued macroeconomic weakness in China .” The 125 year old supercar manufacturer, based in Gaydon in Warwickshire , also said earnings this year will be “slightly below” 2023 levels and the second half is no longer expected to be cash positive. In an update to shareholders the luxury motor brand said: “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.
“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 increasing number of vehicles are taking longer to complete, with these issues impacting the efficiency of its operations and delaying the delivery of its vehicles.” The company said wholesale volumes this year “are now expected to decline by high single digit percentage compared with FY 2023 (previously high single digit volume growth)” while the gross margin is “now expected to be modestly below 40% (previously targeting c.
40%)” Targets for 2025 remain unchanged. CEO Adrian Hallmark, Aston Martin Chief Executive Officer said: “Having been wit.
