Connect with us

LIFESTYLE

Is Aston Martin Heading Towards A Serious Downward Spiral

Published

5 years ago

on

Source:RedBull Racing
Roughly a week ago the automotive industry heard from the British car maker that Aston Martin’s sales and profit forecast was a miss with sales plummeting in Europe. Even last week a deal fell through for Aston Martin while selling their design drawings of the Vanquish to Morgan another UK automaker. This deal would have made AM $24 million.
Bloomberg reported that the UK automaker’s shares tumbled 22 percent this past week after the news broke that their first-quarter had a operating loss. Bloomberg noted that this is a 55 percent drop since the company was valued at $5.3 billion in the London Stock Exchange during Q4 of 2018.
Source:RedBull Racing
In 2015 Ferrari has a wildly successful IPO that showed hope for other exotic car makers around the world if the process was done correctly. Since AM went public the story has not been the same. Aston Martin says that it will hope to recover with the debut of the DBX SUV which should ramp up their annual production figures to 14,000 by 2023. In 2018 AM sold 6,441 cars.
ADVERTISEMENT - CONTINUE BELOW

Related Topics:
autooverload.com

Auto Overload provides our community with the latest trending automotive entertainment news and insight from around the world. We explore insider tips on the newest cars debuting, the best performance parts and the hottest racing events to visit when traveling the globe. We're inspired by exploring new automotive experiences and can't wait to share all of our exciting deals, guides and reviews to help you live your auto life to the fullest.