Loading...

Tuesday, September 28, 2021

Aston Martin is on track to achieve the highest annual sales percentage in 2021 after years of pitfalls

A triple-digit sales increase this year didn’t save Aston Martin from a multi-million dollar profit loss, but the company is seeing a marked improvement, for the first time in a long time.

On August 24, the financial regulator announced that it had found no irregularities, following allegations of insider trading between Aston Martin Lagonda and Daimler AG. The investigation conducted by the German Federal Ministry of Finance, known as (BaFin), examined the purchase of a stake in “Aston Martin” by the head of “Formula 1” of Mercedes-Benz, as the relationship between the two brands caused a lot of suspicion in the sector, Daimler, the parent company of Mercedes, also owns a minority stake in Aston Martin.

This was a new victory for the prestigious British car manufacturer in the recent period, which comes after a long list of repeated failures, as the company has a long history of mismanagement over its 108-year history, which in turn led to 7 bankruptcies, the last of which was in 1974, and asked to close in 2014.

Also, a few years ago, the company’s products were just boring and flashy, one example being the 2018 DB11 Volante Carica. Also, we can’t forget the bad IPO, in which shares fell 6.5% on the first day, It fell 75% soon after.

few sales
To this day, the company’s association with James Bond continues, and Aston Martin sells less than 5,000 cars worldwide annually, a tiny fraction of the hundreds of thousands sold by Mercedes-Benz and Porsche. In 2020, Aston Martin sold 4,150 cars around the world, decreasing its sales by 32% compared to 2019.

But this year already looks better for the company, as Aston announced in July that its sales increased by 224% in the first half of 2021. The company sold 2,901 cars around the world in the first half of 2021, and more than half of its sales were Model D DBX sports utility vehicles, valued at $189,000. Aston Martin says it is on track to sell 6,000 vehicles by the end of 2021.

Translate ยป
%d bloggers like this: