Aston Martin DBX drives first half growth in China sales
Discussion
Take a look at ft.com:-
Extract below…
Aston Martin ramped up sales of its new sport utility vehicle in China, helping the luxury carmaker beat forecasts in the second quarter as it shrugged off the auto industry’s chip crisis.
Pre-tax losses narrowed to £48m in the three months to June, from £117m a year earlier. Sales jumped to £274m, increasing more than fivefold.
More than half of the 2,900 vehicles sold in the first half of the year were the DBX, Aston Martin’s first SUV, helping to boost total sales in Asia-Pacific by 440 per cent to 811 units compared with a year earlier.
“The DBX has been an important driver of growth in the Americas and Apac,” said Tobias Moers, chief executive of Aston Martin.
The SUV has taken the brand into the fastest-growing and most profitable part of the car market, giving it exposure to new types of customers and bolstering its appeal in China, the world’s largest luxury market.
Shares in Aston Martin rose 2.3 per cent to £19.25 in early morning trading on Wednesday.
Since its listing in 2018, Aston Martin has been beset by losses and saddled with debt. Lawrence Stroll, a Canadian fashion mogul who took ………..
Extract below…
Aston Martin ramped up sales of its new sport utility vehicle in China, helping the luxury carmaker beat forecasts in the second quarter as it shrugged off the auto industry’s chip crisis.
Pre-tax losses narrowed to £48m in the three months to June, from £117m a year earlier. Sales jumped to £274m, increasing more than fivefold.
More than half of the 2,900 vehicles sold in the first half of the year were the DBX, Aston Martin’s first SUV, helping to boost total sales in Asia-Pacific by 440 per cent to 811 units compared with a year earlier.
“The DBX has been an important driver of growth in the Americas and Apac,” said Tobias Moers, chief executive of Aston Martin.
The SUV has taken the brand into the fastest-growing and most profitable part of the car market, giving it exposure to new types of customers and bolstering its appeal in China, the world’s largest luxury market.
Shares in Aston Martin rose 2.3 per cent to £19.25 in early morning trading on Wednesday.
Since its listing in 2018, Aston Martin has been beset by losses and saddled with debt. Lawrence Stroll, a Canadian fashion mogul who took ………..
Edited by oilit on Wednesday 28th July 16:40
DBX was the idea of Andy Palmer.
A big change for Aston Martin, but the realisation being that SUVs (even though they all look so similar) are now very fashionable.
Not entirely welcomed by AM enthusiasts, but they reluctantly accepted that as a revenue producer, it could be a life saver for AML.
Deserved praise to AP.
It is, after all, a copy of the "Cayenne" playbook that saved Porsche and helped turn it into the powerhouse that it is today - possibly aided by the attack of hubris that led its then management into thinking they could stage a hostile take-over for VW, only to find that they couldn't and the bid failure leading the company to be subsumed into the VW behemoth.
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