Prosper Okoye
British luxury carmaker Aston Martin has announced plans to reduce its workforce by up to 20 percent, following widening annual losses linked to US tariffs and weak demand in China.
The cuts will affect around 600 employees, out of the company’s 3,000-strong workforce. Aston Martin said its net loss rose 52 percent last year to £493.2 million ($667 million) compared with 2024.
“In 2025, the global luxury automotive market faced one of its most turbulent years in recent times,” chief executive Adrian Hallmark said. He cited escalating geopolitical uncertainties and macroeconomic challenges, including higher tariffs in the United States and China, as key factors affecting consumer demand.
Join our WhatsApp ChannelThe company limited imports to the US earlier this year while awaiting a trade agreement between London and Washington, resuming shipments in June after tariffs were reduced from 27.5 percent to 10 percent on a limit of 100,000 vehicles annually.
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Aston Martin said the automotive outlook “remains challenging” due to potential new US tariffs, changes to China’s luxury car taxes, and ongoing reliance on global supply chains. While it sees China as a market with long-term growth potential, the company noted that demand there “remained extremely subdued,” in line with other luxury carmakers.
Prosper Okoye is a Correspondent and Research Writer at Prime Business Africa, a Nigerian journalist with experience in development reporting, public affairs, and policy-focused storytelling across Africa
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