Aston Martin Issues Profit Warning and Secures £210m in Funding

The luxury carmaker lowers its profit forecast for 2024 and raises cash to address production delays and weak demand in China.

Aston Martin has reduced its 2024 profit forecast to £270-£280 million, down from £305.9 million in 2023, citing production delays and falling demand in China.
The company has raised £210 million through a combination of share placements and high-interest debt to support growth and product development.
Production of the ultra-exclusive Valiant model has been delayed, with only about half of the 38 orders expected to be delivered by year-end.
Aston Martin's shares have dropped 56% this year, reaching a two-year low, as the company faces supply chain issues and competition in the European car market.
CEO Adrian Hallmark, appointed in September, emphasized that the fundraising strengthens the company’s balance sheet and positions it for future growth, including its transition to electric vehicles.