Aston Martin Announces Job Cuts and Delays Electric Vehicle Launch

The luxury carmaker is reducing its workforce by 5% and postponing its first electric vehicle to the late 2020s as it grapples with financial losses and shifting market dynamics.

Aston Martin will cut 170 jobs, representing 5% of its global workforce, as part of a cost-cutting plan aimed at saving £25 million annually.
The company has delayed the launch of its first electric vehicle to the latter part of the decade, citing customer preferences and market conditions.
Annual pre-tax losses increased by 21% to £289 million in 2024, with overall net losses widening by 42% to £323.5 million.
Wholesale car volumes fell 9% to 6,030 units in 2024, impacted by supply chain disruptions, production delays, and a sharp 49% drop in demand in China.
New CEO Adrian Hallmark, appointed in September 2024, aims to improve operational efficiency and transition the company toward sustainable profitability.