Aston Martin had high hopes to deliver 7,000 cars in 2024, but unfortunately, they have fallen short of this goal. The newly appointed CEO, Adrian Hallmark, acknowledged that achieving this target would require near-perfect execution, but due to various challenges, the company is now reducing its estimate by around 1,000 units.
Despite facing financial difficulties in the past decade, Aston Martin has seen a turnaround under the leadership of Lawrence Stroll, introducing successful new models like the DB12, DBX, and Vantage. However, the company’s inability to meet its sales target this year is a setback.
In an interview with Reuters, Hallmark mentioned supply chain issues, such as floods and fires affecting their suppliers in Europe. These challenges have impacted production and led to the adjustment of the company’s 2024 production volumes. The CEO highlighted that the company won’t be able to achieve its gross margin target of 40% for the year.
Looking ahead, Aston Martin is optimistic about next year’s prospects with the launch of new products like the Vanquish, Valhalla sports cars, and the updated DBX SUV. The brand has also postponed its electric vehicle plans and intends to continue selling combustion cars into the 2030s to keep enthusiasts engaged.
Despite the current setback, Aston Martin remains focused on delivering high-quality vehicles and regaining momentum in the market. By addressing supply chain challenges and introducing exciting new models, the company aims to bounce back stronger in the coming years.
