Aston Martin and Stellantis shares slump after profit warnings

Published On Sep 30, 2024, 8:43 AM

Aston Martin has issued a profit warning, causing its share price to drop over 20%. The luxury carmaker is facing challenges due to supply chain issues and decreased sales in China, leading to a projected output reduction of about 1,000 vehicles this year. This profit warning is part of a broader trend in the European car industry, with other companies like Stellantis also revising their financial forecasts due to weak demand and increased competition, particularly from Chinese brands. The electric vehicle market in Europe is also struggling, with sales significantly declining amidst changes in government incentives and potential tariffs on Chinese imports.