Published 13:28 IST, October 30th 2024
Aston Martin posts smaller-than-expected quarterly loss
British luxury carmaker Aston Martin reported a smaller-than-expected third-quarter loss on Wednesday and reaffirmed its annual forecast, saying
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British luxury carmaker Aston Martin reported a smaller-than-expected third-quarter loss on Wednesday and reaffirmed its annual forecast, saying supply chain disruptions are being "proactively managed".
The results come at a time when European carmakers grapple with weak demand in China and the United States, while the European Union has increased tariffs on Chinese-built electric vehicles, stoking fears of potential retaliation from Beijing.
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Aston Martin, famous for being fictional secret agent James Bond's car of choice, posted an adjusted loss before tax of 10.3 million pounds ($13.40 million) for the three months to Sept. 30.
Analysts, on average, had expected a loss of 92 million pounds, according to estimates compiled by the company.
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The company said its year-to-date 2024 wholesale volumes fell 17% to 3,639 vehicles. Aston Martin Lagonda Global Holdings PLC is a British manufacturer of luxury sports cars and grand tourers. Its predecessor was founded in 1913 by Lionel Martin and Robert Bamford.
13:28 IST, October 30th 2024