Luxury carmaker Aston Martin slumps 6% as losses nearly double
Publishing timestamp: 2024-05-01 09:26:51
Summary
Aston Martin reported widening losses in the first quarter as they stopped production of core models ahead of launching new vehicles later this year. Shares plunged, losses doubled, revenue fell, and debt increased. The company is optimistic about significant growth in the second half of the year with the launch of new models. Analysts are concerned about the company's debt and the impact of high interest rates on luxury car demand. CEO Adrian Hallmark is set to join in the fall.
Sentiment: NEGATIVE
Tickers: AML-GB, 0QXR-GB, STLAM-IT,
Keywords: stellantis nv, earnings, aston martin lagonda global holdings plc, autos, business news,