Aston Martin's loss

Aston Martin reported a pre-tax loss of £216.7 million for the first half of 2024, a 52% increase from £142.2 million the previous year, amid a significant drop in wholesale volumes by nearly a third. Revenue fell 11% to £603 million, reflecting a transition to new models like the upgraded DBX707 and V12 flagship Vanquish as older models were phased out. Despite the losses, executive chairman Lawrence Stroll expressed optimism for a strong second half, citing plans for increased production and positive media reception for their new Vantage model. Adjusted Ebitda also declined by 23% to £62.2 million, though the gross margin improved from 34.9% to 38.6%. Aston Martin confirmed plans for a product transformation aimed at sustainable cash flow generation later this year. The company remains committed to its annual guidance despite the ongoing market challenges.