Aston Martin plunges 14% after troubling earnings

Thursday, 27. February 2020 10:17

Shares of luxury sports car manufacturer Aston Martin plunged over 14% on Thursday following the company's earnings report, which revealed a drop sales and a warning over the coronavirus outbreak.

"Covid-19 has the potential to impact both the supply chain and customer demand in China and other markets. China was the company’s fastest-growing market in 2019 and represented 9% of total wholesales," Aston Martin said in the financial update, before adding it expects "materially lower" sales in 2020.

The company also announced the departure of its Chief Financial Officer Mark Wilson. Aston Martin plummeted over 14% at 10:13 am CET.

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Breaking the News / JC