Aston Martin warns of higher costs as supply chain disruptions weigh on margins
Aston Martin Lagonda Global has warned that higher costs from disrupted supply chains will weigh on margins, lowering its wholesale delivery volume forecast for the year.
The London-listed company said that due to supply chain challenges and logistics disruptions wholesale volumes decreased by four per cent year-on-year to 4,060.
Despite lower wholesale volumes, revenue jumped by 16 per cent year-on-year to £857m and revenue from the third quarter alone increased by more than a third to £316m.
“Over the last two quarters we have encountered specific supply chain challenges that have delayed our ability to meet customer demand,” executive chairman Lawrence Stroll said in a statement.
“Whilst we moved quickly to resolve the shortages that affected our Q2 performance, our Q3 growth was hindered by new supply chain challenges, impacting more than 400 vehicles that had been planned to be delivered in the quarter.”