The British manufacturer of luxury cars Aston Martin has plunged deeper into losses in the last six months. The company was faced, among other things, with a disappointing lack of demand for its cars, high production costs and a large stock.
Aston Martin, known by James Bond series but also as co-sponsor of Formula One team, suffered an operational loss of £ 159.3 million in the first half of the year. A year earlier, that deficit was 39 million pounds. The auto maker had lost a lot of money to showrooms that remained closed by the coronavirus for several months and producing the new DBX SUV. The number of cars sold fell by 41% in the first half of the year.
However, the first signs of the sale of DBX in China are positive, according to Aston Martin. The car maker also says that the influence of the corona crisis on the car trade is likely to continue well into 2021. On August 1, CEO Tobias Moers of Mercedes-AMG took over the helm of Andy Palmer. Moers will focus on stimulating the sale of expensive SUVs in China.