Aston Martin LOST £24.6 million in 2012Thu, 10 Oct 2013
The Aston Martin Vanquish (pictured) launch in 2012 contributed to AML’s losses
We reported just the other day that Aston Martin had axed the Cygnet after woeful sales, and it’s not just the Cygnet that hasn’t been selling well. In fact, Aston Martin sales in 2012 – 67,500 units – was still 42,500 down on its pre-recession sales levels of 110,000 cars in 2007 and that lead to yet another loss.
Aston Martin has posted pre-tax losses for 2012 of £24,6 million on sales of £461.2 million for 2012, a worsening position over 2011 which saw losses of £21.2 million.
Aston Martin blames the launch of the new Vanquish and Rapide S (and the new DB9 and defunct Virage) in 2012 for increased costs, and a market that has been severely affected by recession, especially in Europe. Although that doesn’t seem to have had the same impact on Bentley or Ferrari or Lamborghini…
Whether 2013 turns in to a more successful year remains to be seen, but the investment by Investindustrial and the tie-up with AMG are positive moves to give AML a more positive financial outlook and the promise of new engines, and possibly platforms, in the years to come.
Sadly, with few exceptions, this sort of financial position has been Aston Martin’s lot for most of its history, despite its beautiful cars and iconic status.
By Cars UK