Aston Martin: Sales in China to plummet 49% in 2024

Recently, it was reported that, against the backdrop of the global automotive industry accelerating its electrification transformation, the British luxury car brand Aston Martin failed to keep up with the pace of industry development and announced a 5% layoff, which is expected to save about 25 million pounds. In terms of sales, the company's wholesale sales fell by 9% last year, of which sales in the Chinese market plummeted by 49% year-on-year. At the same time, the total debt reached 1.16 billion pounds, a year-on-year increase of 43%.

Amid fierce competition with leading electric vehicle companies such as BYD, Tesla, Xpeng and NIO, Aston Martin's market share continues to shrink.

Despite a late start in its electrification transformation, Aston Martin has once again postponed the launch of its first all-electric model.

Previously, Aston Martin has reached a strategic partnership with American electric car manufacturer Lucid Motors, planning to use its advanced technology to support future electric sports cars.

Aston Martin has become the latest luxury automaker to announce job cuts as it lags in the electric vehicle race.

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Aston Martin: Sales in China to plummet 49% in 2024

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