There are still striking blows at Aston Martin. The British brand announces that it has had a very tough half year.
The Aston Martin DBX is rolling off the production line and it is hoped that that SUV can turn the tide for the brand, because it is still quite worrying. It was not going well and then came the corona crisis. Aston Martin says that the past six months have led to deep red figures. Sales declined by as much as 41 percent compared to the first six months of last year and a loss of just under € 250 million (before tax) was recorded at the bottom of the line. That is considerably more than last year, when there was a loss of € 86 million before tax.
Lawrence Stroll, the new lender and chairman of the board, explains that part of the loss is also due to necessary investments. He hopes that they will eventually pay off. “It was a challenging period with our dealers and factories closed due to Covid-19. This was in addition to the financial impact our repositioning will have for the future.” The Canadian billionaire joined Aston Martin earlier this year after a mega investment. Then CEO Andy Palmer was put out and former Mercedes-AMG CEO Tobias Moers was recruited as the new CEO.