Are Morgan experiencing financial headwinds?

[Jon39]

Unlike Aston Martin, who always struggle with annual financial losses, the Morgan Motor Company have enjoyed a unique niche amongst motor manufacturers.
Seven year model runs seem to be the motor trade norm, but for Morgan, model continuation has worked perfectly.

Sports cars in general no longer sell in the quantity they used to. Aston Martin's peak sales year was 2007, with about 7,200 sports cars sold. Even with an SUV now in their range, the existing sales record has never been surpassed, which indicates the reduction in their sports car sales.

I notice that Morgan's regular profitability has changed during the past few years though .

2023 Revenue £48.3m ...... Pre-tax profit = loss £11.0m
2022 ............... £41.0m ............................. = loss £ 4.2m
2021 ............... £42.6m ............................... £ 2.6m
2020 ............... £30.9m ............................. = loss £486,557 (pandemic)
2019 ............... £950,923 ............................ £ 3.2m
2018 ............... £33.7m ............................... £ 3.2m
2017 ............... £35.6m ............................... £ 1.7m

[ Not sure why the revenue was low in 2019. The pandemic began in 2020 ]

I don't know the recent Morgan vehicle sales trend, but revenue growth looks positive.
With high revenue, presumably car sales numbers are still satisfactory.
If so, I wonder why losses are occuring ?
Are the increasing losses of serious concern ?
Could the longevity of the design appearance, finally be failing to attract enough new buyers ?

Over to Morgan enthusiasts.

[Pistom]

It will be interesting to see the next posted accounts but if you read their accounts review - there are lots of reasons in there to justify the dip into losses. I'm impressed the dip is as low as it is.

So headwinds are only to be expected for a business like this.

The trend for this kind of car is certainly becoming diluted and the end product probably isn't special enough any longer for many to aspire to.

The world has moved on. Morgan have fought the battle well but they somehow need to turn up the appeal of their new cars or manage their business to be able to turn the sales they will get into profit.

Many have failed in the past - let's see what the future holds.