Luxury carmaker Aston Martin's share price sank more than 20% after it said profits will be lower than expected this year. The company, famed for its links to fictional superspy James Bond, has been hit by supply chain issues and falling sales in China.

Aston Martin warned of lower annual profit and cut its production forecast on Monday on supply chain challenges and dogged weakness in China, sending shares as much as 28% lower and raising questions around its future ambitions.

The James Bond carmaker has warned over annual earnings as it revealed it would make around 1,000 fewer cars than first planned in 2024 after being hit by a combination of supplier disruption and a we

Jon Smith explains why the Aston Martin share price has plummeted following the trading update and talks through the outlook for the growth share.

Aston Martin is cutting its predictions for 2024, blaming a disrupted supply chain and a continued macroeconomic weakness in China. The luxury car manufacturer says it no longer expects to achieve positive free cash flow this year, with adjusted EBITDA now expected to be slightly below 2023.

Volkswagen Group lowered its outlook on Sept. 27, following Mercedes-Benz and BMW, due to a drop in demand in China. While manufacturers contend with the downturn, Aston Martin is also struggling with components arriving late, meaning vehicles were taking longer to complete in recent months.

The British car manufacturer said it expects to sell 1,000 fewer cars than previously anticipated due to delays at several of its suppliers

Stocks of European carmakers hemorrhaged early on Monday as Stellantis and British luxury brand Aston Martin issued profit warnings.

Stellantis and Aston Martin have become the latest European carmakers to issue profit warnings as the industry is hammered by competition from cheaper Chinese rivals. In recent weeks, Germany’s Volkswagen,

Aston Martin cut its full-year profitability guidance and said supply-chain disruptions and weak demand in China will hurt delivery volumes, making it the latest car company to warn on its outlook.