Aston Martin share price has plunged by 11% following a downward revision of its outlook, attributed to concerns over tariffs and lower sales projections.
Shares of Aston Martin dropped as much as 11% at the market open in London and were down 6.6% by 9:07 a.m., marking a significant decline of about one-third over the past year. The latest warning highlights the ongoing challenges faced by the manufacturer of James Bond’s iconic car, which continues to grapple with execution issues, volatile market conditions, and strained finances despite numerous rescue attempts, according to a Bloomberg report.
After previously adjusting its outlook in July due to U.S. tariffs, Aston Martin announced on Monday that it now anticipates sales to decline by mid- to high-single-digit percentages this year, primarily impacted by weaknesses in the North American and Asian markets. According to a statement reported by Bloomberg, total deliveries for the third quarter fell by 13%, amounting to 1,641 vehicles.
Adding to the challenges, the luxury manufacturer no longer expects to achieve positive cash flow in the second half of the year and has decided to slow the rollout of the Valhalla, its first plug-in hybrid supercar. The company indicated that it needs to finalize engineering for the vehicle and secure necessary regulatory approvals, underscoring ongoing issues that are hindering a smooth vehicle rollout.