Aston Martin boosted by strong DBX sales in first quarter of 2021
British firm's revenue exceeds expectations, with new SUV now accounting for more than half of all sales
Aston Martin Lagonda has reported higher than expected revenues for the first four months of 2021, with sales boosted by the success of the DBX SUV.
The British company sold 1353 cars in the first quarter of the year, including 746 DBX – 55 per cent of the total. The total meant Aston Martin’s sales more than doubled compared to the same period last year, although sales then were hit by various coronavirus-related lockdowns, particularly in China.
Aston Martin’s revenue increased by 153 per cent year-on-year to £224 million, which exceeded the expectations of market analysts. The firm reported losses of £38.1 million for the quarter, although that is an improvement given the firm’s recent struggles.
Aston Martin said that the increased revenue reflected both the rising sales of the DBX and stronger pricing from a planned reduction in stock levels of its GT and Sport model lines.
Lawrence Stroll, the firm’s chairman, said the results demonstrated “the great progress we are making”. He added: “I am very confident in the future success and potential for Aston Martin as we transform the company to be one of the greatest luxury car brands in the world.”
British firm's revenue exceeds expectations, with new SUV now accounting for more than half of all sales
www.autocar.co.uk