Wednesday, July 6, 2022
News Aston Martin Sales Increased 82% in 2021, But Earnings are £15 million...

Aston Martin Sales Increased 82% in 2021, But Earnings are £15 million Lower than Expected

Aston Martin saw its sales increase 82% in 2021 over 2020, but its profits are hit by delays on the Valkyrie hyper car

  • The Pandemic increased interest in high-end luxury and performance vehicles

  • The company sold 6,180 vehicles worldwide

  • Delays with the Valkyrie hyper car have lowered earnings

2021 saw a large increase in purchases of high-end luxury and performance cars and after Bentley, which posted a 31% sales increase, Aston Martin revealed the number of cars it sold last year.

The small British automaker delivered 6,180 cars worldwide, which might seem small, but it represents a massive, 82% increase in sales year over year.

This is due in part to the pandemic and its travel restrictions which have left many wealthy people with more disposable income than before, but also to the introduction of the DBX, the company’s first SUV.

This model alone accounted for about 20% of the luxury SUV market despite being faced with competitors such as the Bentley Bentayga, the Rolls Royce Cullinan and the Lamborghini Urus.

Lawrence Stroll, the company’s executive chairman, said that “It is a very long time since the core business was in such good health as it is today.”

The chairman also added that production was sufficient to fulfill order and increase inventories to levels that are “appropriate for an ultra-luxury business”.

However, despite this sales success, earnings for the brand will be about £15 million (US $20 million) lower than expected due to delays in the production of the Valkyrie hyper car, which is set to retail for £2.5 million (close to US $3.4 million).

This should be rectified in 2022 when the Valkyrie and Valhalla models start to be delivered and the company expects to reach revenues of around £2 billion in 2024 or 2025.

Trending Now

GM Could be Working on an Electric Van to Replace the Savana and Express in 2026

The GMC Savana and Chevrolet Express have been largely unchanged since 1996 General Motors already has the BrightDrop electric delivery vans in its...

The Nissan Frontier and Titan are Being Recalled for a Rollaway Risk

The parking pawl might not engage fully due to a manufacturing defect Only the 9-speed automatic transmission is affected A fix has yet...

Rivian will Begin Deliveries to Canada in November

This is close to a year later than initially announced, but a year earlier than the latest predictions claimed The company’s vehicles are...

The NHTSA is now Requesting More Information from Honda in its Probe over Phantom Braking

A probe had been launched back in February over issues with the autonomous emergency braking system of Honda vehicles The 2018-2019 CR-V and...

Hyundai Teases Two Upcoming N Cars, One of Which is Electric

The N division makes the sportiest versions of many Hyundai models One of the two new models could be the Ioniq 5 N...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.