Aston Martin enjoyed quite a fruitful first quarter and the main reason is the popularity of the DBX.
During the first three months of the year, Aston Martin delivered 1,353 vehicles, more than double what it delivered in the same period last year, with the DBX accounting for 55 per cent of total sales.
On the back of these sales figures, revenue for the British automaker increased by 153 per cent year on year. The company remains on the road to profitability and even though it is still in the red with a quarterly loss of 42.2 million pounds ($59 million), it is much less than the 110.1 million pound loss it posted in Q1 2020, Reuters reports.
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“I am pleased with our performance in the first three months of the year, delivering results in line with our expectations of good growth and progress on the path to improved profitability and cash generation,” Aston Martin chief executive Tobias Moers said. “We are encouraged by the growth in orders for both GT/Sport and DBX, providing good visibility.”
Production of the DBX kicked off in June 2020 and the company believes it can sell 6,000 vehicles this year. It is understood that the brand will unveil a number of limited-edition models later this year that will no doubt help to generate more revenue. Aston Martin ultimately hopes to be selling 10,000 units annually by either 2024 or 2025.
Beyond the introduction of new models over the past 12 months, the biggest change within Aston Martin has been the appointment of former Mercedes-AMG boss Tobias Moers as its new chief executive.
