Things Are Not Going Well For Aston Martin

It may seem as though Aston Martin is doing better than ever with the successive launches of several models in recent months, from the Vantage to the Valhalla, including the DB12 and the Vanquish, but in reality, internally, things are not going well. And even though the brand, with its 112-year history, has been able to count on a new CEO since April 2024, Adrian Hallmark, known for putting Bentley back in the green, for the time being, the Gaydon firm is still struggling. So much so that, when recently interviewed, the new boss specified that he had set himself a timetable of 12 to 18 months to reverse the trend. And now, thanks to the publication of the brand’s 2024 report, we know a little more about how Aston Martin plans to save money.

Savings above all

And unfortunately, like many other car manufacturers in these turbulent times, this will mean a 5% reduction in its total headcount. That’s 170 positions. “After an intense period of product launches, coupled with industry and company-wide challenges, our focus is now on operational execution and financial sustainability,” Adrian Hallmark said in a statement. By making this choice, Aston Martin hopes to save some £25 million, or €30 million. A choice that is better understood when you consider that it announced an adjusted pre-tax loss of £255.5 million for the year ended December 31, compared to £171.8 million a year ago.

Electricity postponed indefinitely

In addition, on the product side, there is also a change in strategy. In particular, the first electric model will be postponed. For the second time. Last year already, it had been postponed to 2026 due to the lack of interest from the brand’s customers. This time, it will be a little later in the decade, without Aston Martin specifying when. In addition, the brand now intends to develop more variants on existing products rather than new models. And priority will be given to the Valhalla, on which a lot of hopes are based. Its deliveries will arrive in the second half of 2025, and the British manufacturer is counting on it to generate a positive adjusted operating profit for the year as well as free cash flow in the second half.

• Also See: Aston Martin’s CEO Says He Has A Strategy To Save The Brand