It is the firm famed for making the car James Bond drives, but its history has been almost as turbulent as some of the adventures of the Ian Fleming hero. Aston Martin confirmed this week it would be cutting a fifth of its workforce, after the firm's net losses jumped by more than 50% last year. Bosses at the luxury car firm blamed its woes on US president Donald Trump's tariffs in a statement made last month. Experts believe Aston Martin, which is headquartered in Gaydon, Warwickshire, was particularly susceptible to those headwinds but believed there were opportunities for its fortunes to be revived once again. Its troubles come at a time when the car industry is facing one of the most difficult periods in its history, according to former Aston Martin CEO Andy Palmer. He said car makers were having to adapt to manufacturing electric vehicles and plug-in hybrids, as well as changes in consumer behaviour. He added that China was the largest automotive market in the world and that vehicles produced there were now competing within the luxury market traditionally occupied by the likes of McLaren and Aston Martin. Sales of Aston Martin vehicles helped make the West Midlands the UK's largest exporting region to America. The firm's success was also critical to supporting the wider supply chain in the region, with many local firms providing parts for the vehicles. He believed Aston Martin would now need to collaborate more with larger companies like Mercedes, to access technology it would otherwise struggle to develop on its own, in order to return it to a more profitable position.
BBQ - What will happen if Aston Martin fail to adapt?
