Friday, December 9, 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

Switzerland Could Restrict EV Usage During Power Outages

Switzerland relies on France and Germany for its electricity supply. The country unveiled a plan to lessen the impact of potential outages this...

Volkswagen Group’s First North American Battery Plant Could be in Canada

The automaker’s PowerCo battery subsidiary said it is now looking at potential sites in Canada for a new battery plant. VW’s partner, Umicore,...

Toyota C-HR Dead in Canada: Report

Smallest Toyota crossover dead after 2022 Likely replacement the Corolla Cross, which offers AWD and Hybrid Not only are the subcompact cars 0disappearing from...

Volkswagen Announces MEB+, Bringing Longer Ranges and Faster Charging

VW Group continues to work on its electric platform 10 more VW-badged EVs expected by 2026 Volkswagen has sold nearly 700,000 electric vehicles built...

The Fisker PEAR was Seen Testing Out on the Road

The PEAR will be a smaller electric SUV that should start under $30,000 in the US. Despite the test car’s camouflage, its silhouette...


Please enter your comment!
Please enter your name here

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