Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Europe By The Numbers
  • Car Cutaways
  • Resource Center
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: All or nothing: Why circular business models require a holistic approach
    • Capgemini: Invent Head on automotive takeaways from CES 2023
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: The circular economy is spurring new thinking on EV batteries
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
    • TOYOTA EUROPE: Toyota Motor Europe's next-gen C-HR: sensory innovations revealed by Vehicle UX leader
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • SENSEAUTO: Driving the future of mobility with SenseAuto: The AGI power behind the wheel
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automakers
February 25, 2021 03:27 AM

Aston Martin plans production surge as new SUV brightens outlook

Bloomberg
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    The automaker is counting on sales of the DBX, its first SUV model.

    Aston Martin will almost double production this year after working through inventory issues that have plagued the luxury automaker since its 2018 initial public offering.

    The British company plans to make 6,000 vehicles this year, up from 3,394 in 2020, according to a statement on Thursday.

    Aston Martin's quarterly revenue and adjusted earnings beat estimates on strong demand for its DBX SUV.

    The automaker is in the midst of a restructuring plan a year after it was bailed out by Canadian billionaire Lawrence Stroll.

    The 61-year-old fashion mogul has injected much-needed cash and forged closer ties with Daimler's Mercedes-Benz to ensure the company survives tumultuous times for the auto industry.

    After not having turned a profit since it went public in 2018, Stroll has set targets for Aston Martin to earn 500 million pounds ($706 million) on 2 billion pounds of revenue by 2025. Stroll also has returned the company to Formula 1 racing.

    The automaker is counting on sales of the DBX that Stroll has previously said was sold out through April to pace its recovery. Deliveries of the model began last year during the COVID-19 pandemic and ensuing lockdowns.

    Aston also will begin shipping its Valkyrie hypercar in the second half of 2021 as planned.

    The company reached an agreement in October for Mercedes to supply hybrid and electric powertrains to the company, building on an engine tie-up that started in 2013.

    In exchange, Aston will issue new shares to Mercedes, which will boost its stake from 2.6 percent to as much as 20 percent over three years.

    Aston tried banking off Ferrari's successful 2015 IPO with its own listing three years later, but disappointing sales and inventory issues have sent the shares down 84 percent since their debut.

    Aston Martin fell further into the red in 2020 with a 466 million-pound ($660 million) pre-tax loss as its vehicles sales tumbled.

    In 2021, it expects "to see the first steps towards improved profitability," the automaker said on Thursday.

    Reuters contributed to this report

    DAILY NEWSLETTER: Sign up and get the top news of the day in Europe every business weekday.
    RECOMMENDED FOR YOU
    Renault ends common purchasing agreement with Nissan
    Recommended for You
    Nissan Renault alliance
    Renault ends common purchasing agreement with Nissan
    Seat Cupra Born Zwickau 2022
    VW is cutting production of the ID3 and Cupra Born due to weaker demand
    Tesla's Shanghai factory
    Tesla, BMW, Renault exports from China are part of EU anti-subsidy probe
    Dr. Kai Yu, Founder and CEO of Horizon Robotics
    Sponsored Content: Interview with Dr. Yu Kai, Founder and CEO of Horizon Robotics
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Europe By The Numbers
    • Car Cutaways
    • Resource Center
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
    • More
      • Publishing Partners
        • Capgemini: All or nothing: Why circular business models require a holistic approach
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
        • TOYOTA EUROPE: Toyota Motor Europe's next-gen C-HR: sensory innovations revealed by Vehicle UX leader
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
        • SENSEAUTO: Driving the future of mobility with SenseAuto: The AGI power behind the wheel
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us