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Aston Martin DBX Brings Healthy Sales Boost, Helps Cut Losses

Aston Martin DBX Brings Healthy Sales Boost, Helps Cut Losses
aston martin dbx brings healthy sales boost, helps cut losses
james lipmancar and driver
  • aston martin announced that its sales in the first half of 2021 increased by 224 percent, with more than half of the 2901 vehicles sold being the new dbx suv.
  • the dbx helped decrease the company's pretax losses by $189 million, down to a loss of $127 million versus a loss of $316 million in the first half of 2020.
  • aston martin also confirmed that a new dbx variant will arrive in the third quarter and said that the valkyrie and its amr pro version are on track for deliveries by year's end.

    it's rare to see the words "financial stability" and aston martin used together, considering that the british sports-car maker has gone bankrupt seven times in its 108-year history, but under the guidance of executive chairman lawrence stroll the company seems headed in the right direction. in 2017, after making its first profit since 2010, aston martin decided to go public, but investors were wary of the ambitious plans of then ceo andy palmer, and the company quickly accrued debts. over the past year, monetary injections from canadian billionaire stroll and the debut of the dbx suv have begun to right the ship, and on wednesday aston martin reported a 224 percent increase in sales to its dealerships and a $189 million decline in pretax losses compared to the first half of 2020.

    the major player in the sales increase was, unsurprisingly, the new dbx suv. high-end suvs have been a boon to ultra-high-end automakers lamborghini, which recently built the 15,000th urus after just three years on sale, and bentley, which also has an suv—the bentayga—as its bestseller. of the 2901 vehicles that aston martin built in the first half of this year, more than half were the dbx, which began production in july 2020. the company is aiming to produce 6000 total vehicles in 2021.

    the dbx's introduction helped cut aston martin's pretax loss from $316 million to $127 million, which aston martin says met its expectations. a big part of aston martin's continued stability will come from its increasingly close partnership with mercedes-benz and its amg performance division. mercedes parent corporation daimler took a 5 percent stake in aston martin in 2013 and began providing engines and technology, which has only ramped up after stroll's investment in the company and the appointment of mercedes-amg ceo tobias moers as the new head of aston martin.

    in the report, aston martin laid out its plans for the rest of the year, confirming that deliveries of the 1160-hp valkyrie hypercar will begin in the second half, with the track-only amr pro version reaching customers in the fourth quarter. aston martin also said there was strong demand for the vantage f1 edition and that deliveries of the limited-run roofless v12 speedster had started. aston martin also hinted at an upcoming reveal, writing that the first dbx derivative would begin production in the third quarter. it's not yet clear what this will be, but there have been rumors of a high-performance version, a plug-in hybrid, and a seven-seat model. with production not far away, we will likely know the identity of the new dbx variant soon, and if the first half is any indication, more versions of the dbx should only improve aston martin's financial outlook.

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    source:caranddriver.com