Aston Martin's Volume Target Cut Sends Shares Plummeting
Aston Martin shares plunged over 16% after the luxury carmaker reduced its volume target and reported a larger-than-expected quarterly loss. Production problems with the new DB12 model impacted deliveries and resulted in a revised volume projection of 6,700 units for 2023, down from the previous estimate of 7,000 units. Aston Martin's Executive Chairman, Lawrence Stroll, expressed confidence in the demand for their next-generation sports cars and maintained the company's outlook for 2023.