British luxury car manufacturer Aston Martin Lagonda announced Wednesday a plan to cut 20% of its workforce, or approximately 600 jobs out of nearly 3,000 employees. This decision comes as the group has recorded a sharp increase in net losses for 2025, amid US and Chinese tariffs.
The brand posted a net loss of £493,2 million, a 52% year-on-year increase. Revenue fell 21% to £1,26 billion, while sales dropped 10% to 5,448 vehicles. According to management, the global luxury car market has been experiencing a particularly volatile period, marked by geopolitical uncertainties and macroeconomic challenges.
A new plan following cuts already implemented
Chief Executive Adrian Hallmark indicated that the group had to implement "further changes" by the end of 2025, following an initial plan that had already led to the reduction of 5% of its workforce. Aston Martin also revised its five-year investment program downwards, from £2 billion to £1,7 billion.
Tariffs imposed in the United States and China weighed on business. The manufacturer had temporarily reduced its exports to the American market in the spring, pending a trade agreement between London and Washington. This agreement came into effect at the end of June, lowering tariffs on British vehicles from 27,5% to 10%, up to an annual quota of 100,000 units.
Management says it expects a significant improvement in financial results in 2026, relying on measures already implemented to support business. On the London Stock Exchange, Aston Martin shares rose more than 5% on Wednesday morning.
