# Aston Martin cuts investment plans as sales tumble further

By Aarin Chiekrie — 2025-10-29

Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said: “Aston Martin’s road to redemption looks increasingly challenging, with third-quarter wholesale volumes falling at double-digit rates as only 1,430 cars were sold in the period.

“Revenues raced down at an even faster pace of 27 per cent as sales of its ultra-exclusive ‘special’ cars, which retail at a much higher value than its core offering, dropped from 40 to just 2 in the period.

“The poor performance is being blamed on external factors like US tariffs and weak demand in China.

“But, looking under the hood reveals some internal issues, and it’ll take much more than a good mechanic to fix these.

“The second half was meant to bring relief for Aston Martin, driven by deliveries of the high-priced Valhalla supercar.

“But production has been slower than originally planned, with the first delivery only taking place in October.

“That pace is set to ramp up to around 150 deliveries over the final quarter, before slowing down again to 500 over the whole of 2026.

“That would certainly help the group’s finances, given the current baseline for Specials over the first three quarters is just 20 cars.

“But with a history of overpromising and underdelivering, whether the ramp-up happens as expected is far from certain.

“The outlook for free cash flow, once tipped to turn positive in the second half, remains challenging and adds pressure to an already stretched balance sheet.

“The current high and growing level of debt, and its associated financing costs, are also a big problem.

“Double-digit interest rates show that lenders need to be compensated heavily for the high level of risk they’re taking on.

“Given all the challenges, don’t be surprised to see further disappointments on the road ahead.”

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