Aston Martin’s Losses Nearly Double as Firm Prepares for New Model Launches

The luxury carmaker faces significant financial challenges, with losses widening in the first quarter of 2024 amid a strategic transition.

Aston Martin reported a near doubling of losses in Q1 2024, with a significant drop in SUV sales contributing to a 10% decrease in overall revenue.
The company is undergoing a transition, ceasing production of older models to make way for four new models by year-end, including a V12 flagship sports car.
Shares in Aston Martin fell sharply, reflecting investor concerns over the company's financial health and strategic direction.
Executive Chairman Lawrence Stroll criticizes government policies pushing for rapid electric vehicle adoption, suggesting they outpace consumer demand.
Aston Martin aims for a financial turnaround with a shift to a made-to-order sales model and significant refinancing efforts completed in March.