Aston Martin has faced its fair share of financial challenges over the past decade. However, under the leadership of Lawrence Stroll, the company has made significant strides with impressive new models such as the DB12, DBX, and Vantage. Despite these recent successes, the British sports car manufacturer is not on track to meet its financial targets for this year. In a recent interview with Reuters, newly appointed CEO Adrian Hallmark (formerly of Bentley) revealed that the company will produce and deliver approximately 1,000 fewer cars than initially projected, and will fall short of its gross margin goal of around 40% for the year. Aston Martin had planned to deliver 7,000 vehicles in 2024, a notable increase from the 6,620 cars delivered last year—but this target now appears unattainable.
"Near perfect execution was required to meet the company's ambitious 2024 plan," Hallmark stated in the interview. "However, it has become evident that we must take decisive action to adjust our production volumes for 2024." Hallmark attributed these setbacks to supply chain disruptions, particularly "floods" and "fires" that have impacted several of Aston Martin’s suppliers across Europe. The flooding in Switzerland earlier this year, for instance, halted production at a major aluminum supplier, affecting not only Aston Martin but also brands like BMW, Jaguar Land Rover, and Porsche.
Looking ahead, next year could be more promising for the brand as it introduces new models such as the Vanquish and Valhalla sports cars, along with an updated DBX SUV. Aston Martin has also deferred its ambitious electric vehicle plans and pledged to continue selling combustion engine cars into the 2030s—a move that is likely to maintain the interest of enthusiasts in the coming years.
