Aston Martin – Shaken, Stirred… and Sinking?
Bond’s favourite ride is drowning in debt. By mid-2025, Aston Martin’s gross debt ballooned to £1.38 billion. Revenue dropped 25% year-over-year, sliding to £454 million in the first half of 2025, while their prized “special edition” cars, once a margin powerhouse, collapsed by 85%. With gross margins shrinking from nearly 40% to just 28%, the company faces tight cash flow, down £321 million over six months. Recent capital injections, including a £210 million fundraiser in late 2024, serve more as lifelines than growth drivers. Market challenges compound this: a cooling Chinese market and ongoing U.S. tariffs severely restrict exports, threatening future prospects if Aston Martin cannot leverage its brand appeal and the revived James Bond franchise.
Lotus – Fighting to Stay on Track
In 2024, Lotus delivered roughly 12,000 vehicles and posted $924 million in revenue, but the first half of 2025 tells a different story. Revenues dipped 45% to $218 million, and deliveries halved, resulting in a staggering net loss of $313 million. Key factors include the high cost and trade barriers of Chinese-built electric models like the Eletre and Emeya, effectively blocking market entry into North America. With demand still fragile, Lotus depends on low production volumes and high margins to stay afloat. The company's drastic 40% workforce reduction signals urgency. While Geely’s financial backing offers a potential safety net, long-term survival hinges on introducing compelling new products and expanding its appeal beyond core enthusiasts.
McLaren – Restructuring Amid Losses
McLaren Group confirmed losses exceeding £872 million in 2023, heavily outweighing its revenue of £466 million. Early 2024 saw signs of recovery with a modest quarterly profit and a 52% jump in wholesale volume driven by models like the 750S. However, credit agencies remain cautious, downgrading McLaren to CCC+ status—just above default. The recent merger of McLaren Automotive with EV startup Forseven reflects a strategic pivot towards electrification and diversification. Simultaneously, ownership consolidation by investors from Bahrain and Abu Dhabi suggests a focus on long-term restructuring. While the racing division thrives, McLaren faces a challenging road ahead balancing innovation investments with financial discipline.
Maserati – Struggling to Modernize
Maserati’s struggles continue, with only 11,301 cars sold in 2024—a 50% decline from the prior year. H1 2025 marked deeper losses, with deliveries down 26% to 8,412 and an operating margin plummeting to negative 37.7%. Legacy models like the Levante and Quattroporte show signs of age, with the recently refreshed GranTurismo unable to offset broader demand declines. The brand’s planned electric transition remains tentative amidst Stellantis’ broader portfolio priorities, casting uncertainty over Maserati’s future. Discussions of divestment surface periodically, though official statements reaffirm Maserati as part of the group’s core.
Alfa Romeo – Balancing Risk and Opportunity
Despite Stellantis’ €6 billion free cash flow loss in 2024, Alfa Romeo experienced a 20% sales increase in the first half of 2025, buoyed by the Tonale SUV’s global success. Meanwhile, traditional models like the Giulia and Stelvio show signs of aging, struggling to compete with segment leaders. Alfa’s all-electric commitment by 2027 involves leveraging Stellantis’ shared EV platforms to reduce costs. While this offers a potential lifeline, closely linked brand strategy with Maserati poses risks. Alfa remains a favourite among enthusiasts but must navigate significant transition pressures to redefine its market position.
Jaguar – Facing a Steep Decline
April 2025 saw Jaguar’s European sales collapse by 97.5%, delivering just 49 vehicles. Year-to-date global volume suffered a 75% decline. The brand’s revenue fell 9% to £6.6 billion in Q2 2025, with profits halving to £351 million. Key challenges include paused UK sales, nearly complete phase-out of internal combustion models, and a cyberattack disrupting production during a critical vehicle registration period. Jaguar plans a full electric relaunch by 2026-27, but uncertainty over luxury EV demand leaves the brand’s future precarious. The stakes are high as Jaguar seeks to maintain relevance in a fast-changing luxury segment.
Why This Matters
Declines for these storied brands have implications far beyond balance sheets. Parts availability, servicing options, insurance complications, and resale values can all be affected as brands contract or shutter. Enthusiasts risk losing living connections to automotive heritage and craftsmanship. Product innovation, market adaptation, and financial discipline have become imperative for survival in this volatile era.
The coming years will be decisive. Some brands will emerge renewed, while others may fade into history. For car lovers, the question isn’t just which names survive but also what stories, technologies, and experiences are preserved.