Aston Martin downgrades production outlook after delays with new car

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Aston Martin downgrades production outlook after delays with new car
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Shares in the carmaker had dropped around 12% on Wednesday morning.

Aston Martin expects to produce around 300 fewer vehicles this year than it had previously forecast after it had problems ramping up production of one of its new cars.

On the upside, it said: “Demand is very strong with DB12 orders into the second quarter of 2024 and production is now running at the rates required to meet our volume expectations for the year.”Revenue increased 15% in the quarter, hitting £362.1 million, with pre-tax loss almost halving from £225.9 million to £117.6 million.

“Our year-to-date performance has seen us continue to make progress on our strategic direction with strong revenue and margin growth,” said chief executive Amedeo Felisa.

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