Aston Martin posts smaller-than-expected quarterly loss

(Reuters) -British luxury carmaker Aston Martin reported a smaller-than-expected third-quarter loss on Wednesday and reaffirmed its annual forecast, saying supply chain disruptions are being “proactively managed”.

The results come at a time when European carmakers grapple with weak demand in China and the United States, while the European Union has increased tariffs on Chinese-built electric vehicles, stoking fears of potential retaliation from Beijing.

Aston Martin, famous for being fictional secret agent James Bond’s car of choice, posted an adjusted loss before tax of 10.3 million pounds ($13.40 million) for the three months to Sept. 30.

Analysts, on average, had expected a loss of 92 million pounds, according to estimates compiled by the company.

The company said its year-to-date 2024 wholesale volumes fell 17% to 3,639 vehicles.

($1 = 0.7689 pounds)