Aston Martin is committed to car making in St Athan.
The reassurance about the Vale of Glamorgan plant’s future was given by CEO Adrian Hallmark during questions after the luxury car business disclosed its FY24 results with investors this week.
Aston Martin has reported a 3% decrease in revenue for the financial year FY2024, totalling £1.58bn ($2bn), down from £1.63bn in FY 2023.
It said it had reduced expenses in the business and was discussing cutting its global workforce by 5%, or approximately 170 posts, with 150 of those likely to be in Britain, where is operates two assembly sites at St Athan for the DBX SUV models and Gaydon, Warwickshire for sports cars and special models.
On the company’s FY24 results call with investors, Aston Martin CEO Adrian Hallmark was asked specifically about the future of the St Athan plant, and provided reassurance of Aston Martin’s continued commitment to manufacturing in South Wales.
He said, “If I look at the cost of St Athan and the efficiency of it, even though we have two sites, so do Porsche. We don’t have the space in Gaydon to build everything. St Athan has an amazing facility that has huge opportunities to be even more efficient. There’s no fundamental review of that currently on the table.”
While not ruling out some job losses or recruitment freeze at the Welsh plant as discussions develop, an Aston Martin spokesperson later said, “As announced at our FY24 Results, Aston Martin is undertaking organisational adjustments to ensure the business is appropriately resourced for the future and to support our focus on operational discipline. As a result, 170 roles globally will be affected. This difficult but necessary decision was not taken lightly, and we will support those affected carefully throughout the process.”
