Aston Martin reports narrower second-quarter loss

Aston Martin reported that its second-quarter adjusted operating loss narrowed year over year, supported by solid sales of its Valhalla plug-in hybrid supercar and continued cost controls. In a statement on Wednesday, the British luxury automaker said the adjusted operating loss was £52 million (about $69.14 million), improving from £57 million a year earlier but missing market expectations of £45 million, based on a company-provided poll. Aston Martin pointed to challenges in the U.S. from tariffs and in China, where luxury-car taxes add pressure. To manage costs, it cited layoffs, a cut to its five-year spending plan, and efforts to ramp up production of EV technology. Despite the tougher environment, the company kept its annual forecast unchanged.