External factors within the global automotive industry, including supply chain disruption and weak demand in China, are now impacting Aston Martin’s volume outlook for the remainder of 2024. The company said it is experiencing a growing number of late component arrivals due to disruption at several of its suppliers. As a result, an increasing number of vehicles are taking longer to complete, with these issues impacting the efficiency of its operations and delaying the delivery of its vehicles.
As a result, the company said Q3 2024 wholesale volumes and adjusted EBITDA are now expected to be ‘below current market expectations’.
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For the year, wholesale volumes are now expected to decline by high single digit percentage compared with 2023 (previously high single digit volume growth).
Adrian Hallmark, Aston Martin CEO said: “The team at Aston Martin has done an exceptional job in launching a fully reinvigorated core range of vehicles over the last 18 months.
“Near perfect execution was required to meet the company’s ambitious 2024 plan. However, it has become clear that we need to take decisive action to adjust our production volumes for 2024 given a combination of supplier disruption, the weak macroeconomic environment in China and a proactive decision to strategically re-align our production plans to optimise efficiency and achieve a more balanced delivery cadence in the future.”
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