Loss reduced at Aston Martin
Aston Martin Lagonda reduced its pre-tax loss in the first quarter of this year.
It improved from £111.6 million to £74.2m with revenue up 27 per cent to £295.9m.
Executive chairman Lawrence Stroll said: “2023 is set to be one of the most exciting years in Aston Martin’s history. In addition to celebrating our 110th anniversary and our exciting line-up of specials, it will also see the start of our next generation of sports cars which will truly reposition Aston Martin as an ultra-luxury performance brand and enhance our growth.
“Since the start of the year, we have continued to see strong demand across our product range, with our current range of sports cars essentially sold out for the year. The DBX707, the first car developed under my leadership, continues to receive broad media acclaim and, with a growing number incredibly satisfied customers, is strengthening the DBX orderbook in our all major markets, as well as our overall financial performance.”
The luxury car maker says it remains on its way to achieve its target of £2 billion annual revenue by 2025 and complete 10,000 wholesales.
Wholesale volumes were up by nine per cent to 1,269 in the first quarter driven by the DBX707.
The DBX707 represents more than 70 per cent of total DBX orders.
GT/Sports volumes were lower due to the ongoing transition of sports car sales ahead of new launches later in the year.
In January the company announced that it is increasing employment at its Gaydon headquarters with the creation of more than 100 new skilled jobs in its manufacturing facility to support the launch of its next generation of sports cars.
