{"id":654767,"date":"2025-02-26T14:40:16","date_gmt":"2025-02-26T11:40:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/aston-martin-cuts-jobs-as-weak-china-demand-weighs\/"},"modified":"2025-02-26T14:40:16","modified_gmt":"2025-02-26T11:40:16","slug":"aston-martin-cuts-jobs-as-weak-china-demand-weighs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/aston-martin-cuts-jobs-as-weak-china-demand-weighs\/","title":{"rendered":"#Aston Martin cuts jobs as weak China demand weighs"},"content":{"rendered":"
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\n Weak demand in China contributed to Aston Martin’s loss.
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Aston Martin Lagonda announced Wednesday it would cut about five percent of its workforce as weak Chinese demand contributed to losses widening at the luxury car group last year.<\/p>\n

The British brand, beloved by fictional British spy James Bond, said it would ax 170 jobs after annual net losses jumped 42 percent to \u00a3323.5 million ($409 million).<\/p>\n

“Moving forward, my priority is to drive operational excellence and discipline as we continue our transformation into a sustainably profitable company,” new chief executive Adrian Hallmark said in the earnings statement.<\/p>\n

Aston Martin, which is slowly transitioning to electric car models, said it hoped for annualized savings of \u00a325 million.<\/p>\n

The company said wholesale volumes decreased nine percent to 6,030 cars last year, “impacted by the timing of new model launches, supply chain disruptions and weaker macroeconomic environment in China”.<\/p>\n

Aston said that “while China remains a market with significant long-term growth opportunities”, volumes slumped 49 percent last year.<\/p>\n

Its overall performance in 2024 reflected also Aston’s car launches.<\/p>\n

“Product transformation continued throughout the year as prior models were ramped down in preparation for the launch of the new Vantage, upgraded DBX707 and V12 Vanquish,” it noted.<\/p>\n

Hallmark began as chief executive in late 2024, replacing Italian national Amedeo Felisa.<\/p>\n

The Briton is the fourth Aston boss in as many years, having stepped down as CEO of German-owned luxury carmaker Bentley.<\/p>\n

\n \u00a9 2025 AFP\n <\/p>\n

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\n Citation<\/strong>:
\n Aston Martin cuts jobs as weak China demand weighs (2025, February 26)
\n retrieved 26 February 2025
\n from https:\/\/techxplore.com\/news<\/a>\/2025-02-aston-martin-jobs-weak-china.html\n <\/p>\n

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