Aston Martin Faces Another Massive Blow

In addition to Aston Martin’s £10 million cost-cutting plan announced in January, Aston Martin is also planning to reduce manufacturing costs by £8 million ($10 million) and capital expenditure by £10 million. Related cash restructuring costs are expected to be £12 million ($15 million) this year.Earlier this year, Canadian billionaire and Formula 1 team owner Lawrence Stroll led a consortium of investors to purchase a 25 percent stake in the company worth around $657 million, but Aston Martin is clearly still facing financial setbacks. In the first three months of 2020, Aston Martin recorded a pre-tax loss of £118.9 million ($149 million).