- Aston Martin’s losses before Aston Martin rose by 48.7% to $ 322 million in 2024
- The car manufacturer cuts 170 employees and represents about 5% of his workforce
- Aston Martin’s CEO expects a turn in 2025 in 2025
Aston Martin was put on bankrupt seven times in its 112-year history, and in its current form, the company remains far from being financially stable.
On Thursday the car manufacturer reported its Financial results for 2024and showed that losses before tax rose by £ £ 255.5 million (approx. $ 322.7 million), while net debt rose by 43% to £ 1.16 billion ($ 1.46 billion).
The deliveries were 6,030 unitsAround 9% of 6,620 units in 2023.
The results are not completely unexpected because Aston Martin has launched several new models in the past 18 months, including Vantage, DB12 and Vanquish Sports Cars and an updated DBX707 -SUV. The company is also preparing to launch the Valhalla Plug-in Hybrid Supercar in the second half of 2025.
Aston Martin Valhalla
With these new models, CEO Adrian Hallmark assumes to reach Aston Martin Total annual profit before tax Create a positive free cash flow in 2025 and in the second half of the year.
However, Hallmark is not only dependent on new models to improve financial performance. He also announced that 170 jobs – approximately 5% of the overall workforce of Aston Martin – are reduced, a step that will save the company around £ 25m ($ 31.5 million) annually.
In addition, Hallmark explained in the early this month that Aston Martin would significantly reduce its original Plans for electric vehicles. The company had previously intended to introduce several electric vehicles this decade, starting with a model in 2026. The first EV was now pushed back until late in the decade without the next decade being expected.
In order to further increase sales, Aston Martin plans to expand his personalization options and offers premium upgrades such as titanium emissions systems, carbon fiber wheels and high-end audio systems. The company will also use a more frequent update strategy and introduce additional variants and improvements in the entire life cycle of a model instead of waiting for an update until the end of its production run.
