July 29 (Reuters) – Aston Martin’s second-quarter loss narrowed from year ago, backed by solid sales of its Valhalla plug-in hybrid supercar and strict cost discipline, the British luxury carmaker said on Wednesday.
The carmaker has been navigating U.S.-tariffs and taxes on luxury cars in its major market China with cost-cutting initiatives including lay offs, a cut to its five-year spending plan and a push for production of its EV technology.
The company’s second-quarter adjusted operating loss was £52 million ($69.14 million), compared with £57 million in losses reported a year earlier but worse than market expectations of £45 million, according to a company-provided poll.
Aston Martin, known as fictional secret agent James Bond’s choice of cars, retained its annual forecast despite flagging tough market conditions for the automotive industry.
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(Reporting by Prerna Bedi in Bengaluru; Editing by Mrigank Dhaniwala)