Aston Martin: Luxury car maker associated with James Bond cuts investment plans
Luxury car maker Aston Martin has cut its investment plans amid efforts to bring down costs in the face of widening losses.
The UK firm also said it is reviewing its strategy for future models as sales tumbled further in the face of pressure from US tariffs and weak demand in China.
Aston Martin Lagonda told shareholders it will cut its five-year investment commitment from £2 billion to £1.7 billion as it launched a review into costs and capital expenditure.
The car company, known for its association with the James Bond franchise, said it is also investing £350 million into its operations this year, in the latest cut to its spending plans.
Earlier this month the company said it was on track for £375 million of investment, having already pulled back from a previous £400 million target. Adrian Hallmark, Aston Martin chief executive, said: “This year has been marked by significant macroeconomic headwinds.”