Aston Martin to shed jobs.

[Peter Mallett]

As seen in the Telegraph:

http://www.telegraph.co.uk/finance/j...-and-HSBC.html

This seems to be final confirmation that the squeeze is hitting all levels. Up until now the high end of the market has been fairly stable. I'm sorry for those who will suffer because of this. Aston Martin is quite special in motoring terms.

[mountainstar]

Actually the high end market has been unraveling all year. The oil boom and real estate bubble with real prices zooming way above historical averages are over and all that wealth and income that bought high end cars is now disappearing and quickly.

As an example, there was a seasonal performance school run here in the USA by one of the high end sportscar companies for the past few years. Last year booked solid, this year almost zero bookings and of course the whole multi million dollar event canceled. From what I am hearing through out the business at least here in the USA, is that most high end cars are not moving at all. The largest Lambo store in the world just closed up shop in LA for instance.

With every thing I know first hand, this is going to get far worse. Much worse then most of us have seen. Some companies will go under and many will have to cut staff and dealers.

[John Turner]

It seems unlikely that anyone will escape the adverse effects of all this. It's a big hit if a company like Aston announces job losses a year after record sales. It will be interesting to see where the price of secondhand Astons go; they had been very strong, particularly in recent years, following the success of the company and its enhanced status and profile.

[johnh875]

Depends on what area the jobs are coming from - production will have to be slower in the coming year and they would be alone amongst manufacturers if they were not making cuts.

Do they still have a long order book?