Can Aston Martin’s Hypercar Gamble Save the Brand?
Via Top Gear
These are not happy times for Aston Martin. The British luxury carmaker is fighting ferociously for its survival in a highly competitive space. However, the blows just keep coming. The latest big whack was in the form of hugely disappointing Q3 2022 Financial results. In November 2022, the company reported a pretax loss of $259.4 million compared with a loss of $121.2 million a year prior. Net debt also increased to $1.03 billion, even though Aston Martin raised $776 million in September 2022 partly to offset existing debt.
That’s not all. Like other automakers, supply-chain challenges hit the company hard. Aston Martin was forced to lower its sales growth guidance, by as much as 400 vehicles, for the full year. These unfortunate series of events sent a ripple effect through the company’s books. Share prices plummeted, and industry analysts pinned the hope of a revival on the ability of the carmaker to secure a new partner or additional funding.
Become a Member & Get Ad-Free Access To This Article (& About 6,000+ More)
Access to the full article is limited to paid subscribers only. Our membership removes most ads, lets you enjoy unlimited access to all our premium content, and offers you awesome discounts on partner products. Enjoy our premium content.