Aston Martin Lagonda reports sales in the first quarter of 2021 more than doubled on the previous year, with the DBX accounting for more than half of sales.
Aston Martin Lagonda is in the process of ‘restructuring’ itself for the umpteenth time in its history as being the world’s ‘Coolest’ car brand fails to translate in to commercial success.
But this time round there’s not just someone with deep pockets holding the reins – Lawrence Stroll – but a substantial commitment from Mercedes with technology and a significant holding in AML to make things work and finally make Aston Martin a sustainably profitable enterprise. And it seems things are going quite well.
AML reports an increase in revenue in the first quarter of 2021 of 153 per cent, in the process flogging 1,353 cars of which 55 per cent were the new DBX SUV. That adds up to sale more than doubling, although that still translates in to a loss of £38 million.
Aston also say that they’ve managed to ‘rebalance’ GT/Sport models that have been floating around unsold at Aston and at dealers, which augers well for future revenues, improved manufacturing efficiencies and have the Aston Martin Valkyrie on track for deliveries in the second half of 2021.
Tobias Moers, Aston’s CEO, said:
I am pleased with our performance in the first three months of the year, delivering results in-line with our
expectations of good growth and progress on the path to improved profitability and cash generation. Dealer
inventory for GT/Sport is now at our ideal levels, earlier than originally planned and supporting stronger pricing
dynamics. We are encouraged by the growth in orders for both GT/Sport and DBX, providing good visibility.
It’s far to early to say the Stroll and Moers combination – and Mercedes-AMG input – has turned Aston round, but things do look to be heading in the right direction.