Aston Martin shares plunge as uncertainty hits sales

Aston Martin's market value has fallen by more than half since its stock market float last yearShares in Aston Martin have plunged as it cut sales and profit forecasts blaming macroeconomic uncertainty and weak markets in the UK and Europe.

The British luxury carmaker said it was taking immediate action to improve efficiency and cut costs as it issued the trading update ahead of half-year results next week. It said wholesale car sales fell 22% in the UK and by 28% in Europe, the Middle East and Africa in the second quarter of the year, though there was strong growth in other parts of the world.

The company said the"challenging external environment" it had first flagged in May had worsened, as had"macro-economic uncertainties". "We anticipate that this softness will continue for the remainder of the year and are planning prudently for 2020," it added.The company's chief executive Andy PalmerShares fell 22% in early trading, taking the shares down to about £8 - less than half of the £19 price which valued the company at £4.3bn when it first floated last October.

Customers are waiting for the eco friendly electric option.

Buy German.

Guess belief in U.K. not ripe for Aston Martin I’m sure the workforce will thank BorisJohnson when their future is at risk - expect USA inc will eye them up 20% down today

Well keep over pricing the car and watch they will go bust like everyone else, rather have a m3 or r32 and save myself a fortune

Should never have gone public.

No deal ASAP.

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