Transitioning Aston Martin sees fall in profit
24/05/2018
For the three months to March 31, the company achieved pre-tax profits of £2.8 million, compared to £5.5 million for the same period of last year.
Aston Martin’s revenue for the period was £185.4 million, a slight fall from the previous year.
Car sales fell from 1,203 in the first quarter of 2017 to 963 this year. The company said this decline was expected as it prepares to introduce new models, including the DB11 Volante and the new Vantage (pictured). It added that its order book for 2018 “has continued to exceed overall production capacity”.
The average selling price per vehicle increased 11% to £160,000.
Aston Martin invested a total of £68 million in development in the first quarter as part of its ongoing ‘Second Century Plan’. This included increased spending on R&D and the continued development of its new manufacturing facility in St. Athan, Wales.
Image courtesy of Aston Martin.
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