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on september 30, the stock price of the well-known luxury car brand aston martin plunged at the opening, with an intraday drop of 28.78%. as of the close of the day, the stock price fell 24.51%.

judging from the news, aston martin recently lowered its full-year performance forecast, and it is expected that full-year sales will be about 1,000 fewer than before. aston martin cited weak demand in the chinese market for lowering its performance expectations.

according to an incomplete review by reporters from "daily economic news", many european and american car companies have recently lowered their profit expectations, including volkswagen group, stellantis, etc. the adjustment in performance outlook caused a "big plunge" in the stock prices of many european and american car stocks on september 30. .

are european and american auto stocks collectively stalling?

on september 30, european and american automobile stocks stalled, and the stock prices of aston martin, stellantis, renault, volkswagen group and other stocks fell sharply.

among them, aston martin's share price plummeted by more than 20%, stellantis's share price fell by nearly 13%, and renault's share price fell by nearly 6%.

looking at the news, many european and american automobile companies have lowered their profit expectations recently.

aston martin said in a statement recently that due to supply chain challenges and a weak chinese market, adjusted earnings before interest, taxes, and amortization (ebita) will be slightly lower than last year's level, and it no longer expects free growth in the second half of this year. cash flow is positive and sales forecast for the second half of the year has been lowered.

picture source: photo by zhang jian, a reporter from every journal (data map)

stellantis also stated in a statement recently that this year's adjusted operating profit margin will narrow to between 5.5% and 7%, a double-digit decrease from the previous forecast; the company's free cash flow is expected to be negative this year. 5 billion euros ($5.6 billion) to minus 10 billion euros. it also expects to reduce production by 200,000 vehicles in the second half of the year, twice the scale of the previous plan.

the volkswagen group has also lowered its full-year forecast, predicting that global vehicle delivery volume in 2024 will be reduced to approximately 9 million vehicles, lower than the previous forecast of 9.24 million vehicles. volkswagen group ceo obermaugh also said: "the european automobile industry is facing a very severe situation."

in fact, not long ago, morgan stanley issued a document saying that due to the intensification of price wars, squeezed market share, insufficient consumption power, and rising credit default rates, the profits of u.s. auto companies are under pressure, and morgan stanley is bearish on the united states. prospects of the automobile industry and downgraded the ratings of many u.s. auto companies.

morgan stanley is bearish on u.s. auto stocks and has downgraded general motors, ford, rivian and other auto companies across the board.

european and american luxury car brands encounter a "cold winter" in sales

according to data recently released by the european automobile manufacturers association (acea), new car sales in the eu fell by 18.3% year-on-year in august this year, falling to the lowest level in three years. sales in major markets germany, france and italy all experienced double-digit declines, falling by 27.8%, 24.3% and 13.4% respectively. through this set of data alone, it is not difficult to detect the "chill" in the european and american electric vehicle markets.

judging from the above content, the "cold air" has obviously been transmitted to ultra-luxury car brands represented by aston martin.

a set of data from the passenger car association shows that in august 2024, the sales volume of imported super luxury brand cars in china was only 380 units, a year-on-year decrease of 58%. from january to august this year, sales of super luxury car brands such as rolls-royce, bentley, ferrari, maserati, and lamborghini generally experienced double-digit declines in china. sales of rolls-royce fell by 40% year-on-year, and maserati fell by 74%.

image source: photo by liu guomei of daily economic news (data map)

represented by aston martin's sales, its total global sales in the first half of 2024 were 1,998 vehicles, a year-on-year decrease of about one-third. specifically, in the first half of the year, aston martin sales fell 34% year-on-year in the british market, 40% year-on-year in the american market, and 36% year-on-year in the asia-pacific market. in the chinese market, aston martin sales plummeted 72% year-on-year.

chen liran, director of forecast research at the china automotive strategic development research center of tianjin university, said in an interview with reporters that under the current consumption environment of the domestic automobile market, consumers' preference for luxury imported cars has declined, and it is expected that their purchasing power will be insufficient.

however, the reporter noticed that in sharp contrast to the sluggish sales of european and american ultra-luxury brands, many luxury models of china's own brands are popular in the market. for example, models such as the upward and wenjie m9 priced over 500,000 yuan have achieved good sales.

a research report recently released by huaxin securities stated that the consumption upgrade trend in the domestic passenger car market is obvious, and independent brands are taking advantage of the opportunities of electrification and intelligence to seize high-end market share. business attributes, comfort and luxury are important differences between million-dollar luxury cars and low-priced luxury cars. independent brands led by ideal and hongmeng smart are gradually breaking the monopoly of high-end foreign brands, and the domestic luxury car market is expected to continue to expand.