Aston Martin : A bumpy start to 2021

Aston Martin recorded a loss of $59 million (£42.2 million). Despite this disappointing result, the luxury car manufacturer has recorded satisfactory profitability, with sales doubling in the first quarter of 2021.

The first quarter of 2020 marked a complicated turnaround for the car firm, which posted a loss of 110.1 million £, despite the fresh wind brought by the arrival of investor and billionaire Lawrence Stroll at the helm of Aston.

This upheaval was not to be questioned, as the group had been standing at a loss since 2018 and its IPO.

The 2021 figures, although symbolising a further loss of 42.2m£, affirm a resurgence of dealer interest with 1,353 vehicles sold, double the 2020 figure.

“I am satisfied with our performance in the first three months of the year, with results in line with our expectations, good growth and progress towards improved profitability and cash generation,” commented CEO Tobias Moers.

The British group maintains its objectives for 2024/2025 : the sale of 10,000 cars and a turnover of 2 billion pounds per year.

Featured photo : © GettyImages

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