Aston Martin will reduce 5% of the staff due to losses and debts

The car concert announced an increase in Donalog’s adjusted losses by 48.7%, to 255.5 million pounds ($ 323 million) in 2024. Aston Martin’s net debt increased by 43%, amounts to 1.16 billion pounds ($ 1.5 billion). The company’s shares also fell into more than 9%.

In addition, the car manufacturer postponed the launch of its first electric car until the end of the decade to focus on the hybrid model, referring to the risks associated with fees and weak sales in China.

Aston Martin plans to launch 999 Valhalla hybrid models at a price of approximately 850 thousand pounds ($ 1.1 million). Deliveries must begin at the end of 2025. According to Hallmark, the car must make a significant contribution to the financial indicators of car concerns in the coming years.

• In addition to Aston Martin, Volkswagen and Porsche Germans faced financial problems. In December, Volkswagen reached an agreement with the union on a reduction in 35 thousand jobs for 2030 by saving methods.
• In mid -February, Porsche announced his intention to reduce another 1.9 thousand employees for four years, since the program already initiated was insufficient. The purpose of the company is to reduce the number of employees in factories in Tsuffenhausen and Weissaha by 15% by 2029.