Shares in automakers Stellantis and Aston Martin skid on profit warnings
- Aston Martin's share price dropped over 20% after announcing lower than expected profits due to supply chain issues and declining sales in China.
- Stellantis and Aston Martin shares fell as both companies cut profit forecasts, joining other European automakers.
- The difficulties at Stellantis and Aston Martin highlight broader issues in the European car industry, including rival companies like Volkswagen and Mercedes-Benz also revising forecasts.
31 Articles
31 Articles
Stellantis and Aston Martin lost a lot of stock market value on Monday. The reason was the profit warnings of the car companies, with stock exchange listings in Milan and London respectively. The car manufacturers point to weak demand in China, disruptions in supply chains and cost increases.
Aston Martin shares crater as supply chain disruption scuppers production ramp up
Aston Martin shares plummeted nearly twenty per cent this morning after the marque issued a profit warning, blaming supply chain issues and “continued macroeconomic weakness” in China. The FTSE 250 group expects both wholesale production volumes and adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) to come in below market expectations this year. Aston Martin had put its hopes on a significant production ramp up …
Coverage Details
Bias Distribution
- 78% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
