Luxury carmaker Aston Martin’s sales are increasing thanks to higher prices and more profitable models.
Aston Martin has narrowed its annual loss in 2021 thanks to higher sales. The group expects further improvements this year as new, more profitable models are due out and plans to raise prices across its model range.It expects to see sales increase again in 2022, despite the ongoing global supply chain disruptions that accompanied the COVID-19 pandemic.
The car company is bemoaning an operating loss of 76.5 million pounds ($104 million) for 2021, compared with 323 million pounds the previous year, when sales jumped 82 percent to nearly 6,200 units.
Last month, Aston Martin explained that its 2021 core earnings had been affected by delays in shipments of its limited-edition Valkyrie sports car. The brand plans to ship between 75 and 90 Valkyries in 2022. Sometime in 2025 should see the brand’s first-ever all-electric vehicle starting and in 2026, all new car lines should be having an electric option.
Lawrence Stroll, the company’s executive chairman, who made a new investment in 2020 in the group, enthuses: “We have successfully transitioned our operating model to that of an ultra-luxury performance brand, with customer demand far exceeding supply. Our core business is solid and delivered according to plan, with significantly improved profitability.”
The first two new vehicles produced by Aston Martin’s new management, the DBX707 and the V12 Vantage will be launched this year “with improved profitability over previous models,” the group comments.
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