Tariffs, weak sales hit Aston Martin

Deliveries fall 13% in Q3, led by US, Asia

- WILLIAM WILKES

An employee works on an Aston Martin Valkyrie at the company's factory in Gaydon, Britain.

(REUTERS)

Aston Martin Lagonda Global Holdings Plc plunged after cutting its outlook for the second time this year, a fresh blow for the storied British carmaker as tariffs and faltering demand extend years of turnaround stumbles.

Shares fell as much as 11% at the open in London and were lower 6.6% at 9:07 am, bringing losses over the past year to about one third. The latest warning underscores how the maker of James Bond's car of choice continues to battle execution struggles, volatile markets and strained finances despite repeated rescue efforts.

After already tempering its outlook in July on US tariffs, Aston Martin yesterday said it now expects sales to fall by a midto high-single-digit percentage this year, weighed down by weakness in North America and Asia. Total third-quarter deliveries dropped 13% to 1,641 vehicles, according to a statement.