Aston Martin, facing cashflow issues, is reportedly axing plans to make an electric sedan and in talks with Chinese behemoth Geely over a potential investment. The British sports car-maker has been courting finance after warning investors of lower sales than were initially predicted for 2019.
“From a trading perspective, 2019 has been a very disappointing year,” Dr Andy Palmer, President and Group CEO of Aston Martin Lagonda, conceded today. “Whilst retails have grown by 12-percent, our best result since 2007, our underlying performance will fail to deliver the profits we planned, despite a reduction in dealer stock levels.”
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