Aston Martin Stocks Dip Following Profit Warning

The BBC is reporting that luxury carmaker Aston Martin’s share price sank more than 20 per cent 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.

The share price of Stellantis, the owner of brands such as Fiat and Jeep, also plummeted on Monday after a profit warning.

Carmakers across Europe have been suffering lately, with disappointing sales and increased competition from abroad taking a heavy toll on earnings.

Aston Martin is a prestige brand which makes upmarket cars in relatively small quantities.

Last year, it sold 6, 620 vehicles, with about a fifth of those going to the Asia-Pacific region.