Aston Martin sales increase thanks to higher prices and more profitable cars

An Aston Martin logo is pictured at the factory in Saint Athan, Wales, Britain December 6, 2019. REUTERS/Rebecca Naden

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  • Operating loss 2021 76.5 million stg against 323 million loss 2020
  • Sales jumped more than 80% to nearly 6,200 vehicles
  • DBX707 and V12 Vantage will be launched this year

LONDON, Feb 23 (Reuters) – Aston Martin (AML.L) pared its 2021 full-year loss as sales surged and the company said on Wednesday it expects further improvements this year as it launches new models more profitable and planning to increase prices across its model range.

The British luxury carmaker said it expects to see sales increase again in 2022, despite continued global supply chain disruptions that have accompanied the COVID-19 pandemic.

The company said last month that its 2021 base revenue was affected by delays in shipments of its limited-edition Valkyrie sports car. Read more

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It said Wednesday that it plans to ship between 75 and 90 Valkyries in 2022.

The automaker added that it plans to launch its first all-electric vehicle in 2025 and from 2026 all new car lines will have an electric option.

Fictional secret agent James Bond’s car brand of choice has fallen on hard times since its launch in 2018, failing to meet expectations and burning cash, prompting it to bring in new investment from the billionaire Lawrence Stroll in 2020, who is now the company’s executive chairman. .

“We have successfully transitioned our operating model to that of an ultra-luxury performance brand, with customer demand far exceeding supply,” Stroll said in a statement. “Our core business is solid and delivered as planned, with significantly improved profitability.”

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 to previous models”, the company said.

Aston Martin said it had started to bring in technology from shareholder Mercedes-Benz (MBGn.DE), which increased its stake in the struggling carmaker in 2020, but added it was “not currently no plans to issue additional shares” to the German automaker until early 2023.

This deal in 2020 expanded an existing supply deal to give Aston Martin access to key Mercedes technology, including hybrid and electric drive systems.

Aston Martin posted an operating loss of 76.5 million pounds ($104 million) for 2021, compared to 323 million pounds the previous year, as sales jumped 82% to nearly 6,200 units.

($1 = 0.7359 pounds)

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Reporting by Nick Carey Editing by Emelia Sithole-Matarise and Mark Potter

Our standards: The Thomson Reuters Trust Principles.

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