Aston Martin it is a brand that has to go upstream at all costs. Its economic problems are well known, and date back to before the start of the pandemic. However, the company with Lawrence Stroll at the helm he predicts finances will improve in the second half of 2022 as supply chain problems ease.
The British carmaker expects to sell more cars in the second half following an increase in production of more profitable models, including the DBX707 SUV. In the first six months, however, the loss was caused by supply chain obstacles and logistics bottlenecks, exacerbated by blockades in China, the war in Ukraine and rising costs.
Aston Martin earlier this month announced a capital increase it will see the public investment fund of Saudi Arabia overtake Mercedes-Benz, to become the second shareholder behind Stroll. This will make it possible to remedy the debt situation.
“We ended June with more than 350 DBX707s that we planned to deliver in the second quarter, pending final parts, consuming tens of millions of cash and temporarily limiting our ability to meet the strong demand we have,” Stroll said. “We have now started delivering these vehicles in July and expect further improvements in the supply chain, supporting deliveries and meeting our full year targets.“.
The company has registered a pre-tax loss of £ 285.4 million ($ 347.99 million) for the six months ended June 30, compared with a loss of £ 90.7 million the previous year. This is a difficult time, and the planets will have to line up to allow the brand to end the year on a positive note.
#Aston #Martin #economic #prospects #horizon #FormulaPassion.it