Aston Martin Expected to Achieve First Profit Since 2010
Automaker regains footing even before it launches an SUV
Until recently, Aston Martin suffered losses as a result of a lack of new models. But this year, Aston Martin is exiting survival mode, and is on track to post its first annual profit since 2010. The automaker is still in the beginning stages of rolling out a barrage of new vehicles as called for under the Second Century Plan.
0:00 / 0:00
In the first nine months of the year, Aston recorded a pre-tax profit of 22 million pounds, or roughly $29 million. It sold 3,330 cars, an increase of 65 percent. It lost 124 million pounds during the first nine months of 2016.
Aston Martin recently unleashed a bold plan to launch seven models in seven years. The DB11 was the first all-new car Aston launched in more than a decade.
When asked byReutersabout whether or not Aston will be profitable this year, CEO Andy Palmer said, "It's our intention to be."
"Our strong financial performance and continued profitability reflects the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year," he also said.
Just this week, the automaker unveiled the stunning new Vantage. With this new model, Aston's output will reach 7,000 sports cars by 2019, the highest level in a decade.
Under the Second Century Plan, the automaker will also launch a new Vanquish, a highly anticipated DBX crossover, two Lagonda-badged sedans, and a mid-engine sports car to rival the Ferrari 488.
Source:Reuters
When I tell people I write about cars, the most common reply I receive is “Really?” I guess I never strike people as a car type as I drive down the freeway in the right lane going 60 mph in my old SUV. My gripes about driving in city traffic and fast drivers don’t help my case, either. For a time, the only cars I liked were old cars. Not old as in "classic" or "vintage," but as in well-worn. My first appreciation of cars came when I drove a very old Ford pickup. It wasn't perfect: I used a booster seat to reach the gas pedal, and the turn signal once fell off in my hand as I was learning to drive. But the thing I valued most was the memories. It took several years for me to truly become a "car person." Being a long-time writer and an avid reader has helped me develop a healthy curiosity and a desire to know how things work. This has made cars one of the most fascinating points of study for me because they are such intricate machines. I am interested in how cars can reach 200 mph, how they can run on hydrogen, and how they can drive and park on their own. I also enjoy learning how cars can solve problems whether it be in the form of reducing pollution, minimizing traffic, or helping people stay connected on the road. Yes, maybe I’m not a gearhead. Perhaps I’m a car nerd. Either way, I very much enjoy writing about cars and helping people stay in tune with the automotive industry. I wouldn't want to be writing about anything else. And don’t get me wrong: I know how to drool over a hot car. I am fascinated by the Tesla Model S, awed by the Lamborghini Veneno, and am hopelessly obsessed with the Audi R8.
Read More
