External factors within the global auto industry, including supply chain disruption and weak demand in China, are now impacting Aston Martin’s volume prospects for the remainder of 2024. The company said it is facing a growing number of late arrivals of parts due to disruptions at various suppliers. As a result, an increasing number of vehicles are taking longer to complete, with these issues impacting the efficiency of operations and delaying the delivery of the vehicles.
As a result, the company expects wholesale volumes and adjusted EBITDA in the third quarter of 2024 to be “below current market expectations.”
For the year, wholesale volumes are now expected to decline by a high single digit percentage compared to 2023 (previously high single digit volume growth).
Adrian Hallmark, CEO of Aston Martin, said: “The Aston Martin team has done an exceptional job over the last 18 months in launching a completely revitalized core range.
“Near-perfect execution was needed 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 disruptions, the weak macroeconomic environment in China and proactive policies. decision to strategically realign our production plans to optimize efficiency and achieve a more balanced delivery rhythm in the future.”
“Aston Martin lowers its guidance on supply chain disruption” was originally created and published by Just Cara brand owned by GlobalData.
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