Aston Martin narrowed its annual loss in 2021 as sales surged and the company said on Wednesday it expected further improvements this year as it launches new, more profitable models and plans to raise prices across its model line-up.
Sales jumped over 80% to nearly 6,200 vehiclesnarrowed its annual loss in 2021 as sales surged and the company said on Wednesday it expected further improvements this year as it launches new, more profitable models and plans to raise prices across its model line-up.
The company said last month its core earnings for 2021 were affected by delays in shipments of its limited-edition Valkyrie sports car.It said on Wednesday it expected to ship between 75 and 90 Valkyries in 2022. Fictional secret agent James Bond's car brand of choice has had a tough time since floating in 2018, failing to meet expectations and burning through cash, prompting it to bring in fresh investment from billionaire Lawrence Stroll in 2020, who now serves as the company's executive chairman.
The first two new vehicles produced by Aston Martin's new management - the DBX707, a luxury SUV, and the V12 Vantage, a powerful sports car - will be launched this year "with improved profitability compared with prior models," the company said., which increased its stake in the struggling carmaker in 2020, but added there were "currently no plans to issue additional shares" to the German carmaker until early 2023.
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