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Aston Martin expects demand for DBX SUVs to balance with delivery delays for Valkyrie supercars

In January, Aston Martin delayed deliveries of its £2.4million Valkyries.

Via Automatic table HT
Update on:
February 23, 2022, 05:30 pm

Image file of Aston Martin DBX707
Image file of Aston Martin DBX707

Equal Aston Martin stepping up its turnaround plans, the automaker hopes demand for its DBX SUV will help balance delivery delays for the Valkyrie supercar. It plans to deliver up to 90 Valkyrie this year.

In January, the carmaker delayed deliveries of £2.4 million Valkyries, which reduced earnings before interest, tax, depreciation and amortization by around £15 million.

However, the company says it sold more than 3,000 DBXs during the year, representing a 20% share of the luxury SUV market.

The luxury automaker is launching new variants of the DBX, including the 707, calling it the most powerful SUV yet. The automaker is also working on a V12 version of Vantage sports car, an announcement that boosted its shares by 6.6%. The company hopes that the new variants, along with price increases across a range of products, will help improve the company’s bottom line, making 2022 a “meaningful year”.

(Also read | The newly launched Aston Martin DBX 707 will soon go into full production)

Aston Martin spent 18 months restructuring after the rescue of Canadian billionaire Lawrence Stroll. The 62-year-old fashion mogul has pumped money and forged closer ties with Daimler AG’s Mercedes-Benz during the transition to electric cars and self-driving cars. This year, the automaker is expected to deliver more than 6,600 vehicles, up 8%. It also plans to spend around £300 million ($408 million) on investment and research and development costs.

Additionally, the automaker will introduce hybrid variants of all of its models over the next two years, with the first all-electric cars in 2025, Stroll said in a call interview. However, the global supply chain continues to be an issue for the automaker.

Aston Martin reported fourth-quarter earnings before interest, tax, amortization and amortization of £65.6 million, below analyst estimates of £81 million. However, the company says it is on track to meet its medium-term revenue and profit goals.

(with input from Bloomberg)

Date of first publication: February 23, 2022, 05:29 PM IST

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