The British sports carmaker saw an 8.9% drop in sales last year, while its debt surpassed $1 billion
Aston Martin has released its 2024 financial results, and the outlook remains challenging. The automaker reported a deeper loss of £289.1 million ($366.1 million), up from £239.8 million ($303.6 million) in 2023. Meanwhile, its debt has surged 43% to over £1 billion ($1.27 billion).
Revenue declined 11%, falling from £305.9 million ($387.3 million) to £271.0 million ($343.1 million). In response, CEO Adrian Hallmark stated that the company will now prioritize “operational execution and delivering financial sustainability” following a wave of product launches, according to AJ Bell. As part of its cost-cutting strategy, Aston Martin will eliminate 170 jobs—about 5% of its workforce—aiming to save £25 million ($31.6 million).
Sales dropped globally, slipping 8.9% from 6,620 units in 2023 to 6,030 in 2024. China saw the steepest decline at 16%, reflecting broader struggles faced by Western automakers in the region.
Hallmark emphasized the need to avoid unnecessary costs and inefficiencies caused by rushed or delayed projects. Setting realistic deadlines is critical, especially after high-profile setbacks like the Valhalla. First teased in 2019, the supercar was supposed to enter production by late 2021 but faced repeated delays. Aston now promises it will finally arrive this year—a commitment the company can’t afford to break.
