Aston Martin sales more than double as DBX demand grows

Aston Martin’s sales more than doubled in the nine months to September 30 compared with 2020 as demand for its DBX SUV continued.

Total wholesale volumes rose from 1,555 to 4,250, helping to reduce the firm’s pre-tax loss from £307.9m to £188.6m.

Executive chairman Lawrence Stroll said: “Through the first nine months of this year we have successfully built on the foundations we put in place for the company’s success in 2020.

“Not only do we have low dealer inventory, but it is also healthy and fresh – a testament to our shift to ultra-luxury positioning.

“The excitement around and demand for the brand are tremendous, with good visibility for sales, increased interest to be part of our journey from potential new dealers and fantastic demand for our limited run Specials.”

Revenue swelled by 173 per cent from £270m during the same period in 2020 to £736.4m.

The growth has been driven by sales of its luxury SUV – the DBX – which is ‘on plan’ according to the firm, with more than 2,100 delivered so far. The third quarter of the year, however, was affected by some 200 job losses at Aston’s St Athan plant in south Wales, where the DBX is manufactured.

As part of Aston’s Project Horizon transformation initiative, the firm is scaling up its Valkyrie hypercar, with the first customer car being completed ahead of deliveries commencing in the fourth quarter.

The Valkyrie Spider hypercar is also now said to be twice oversubscribed and with just 85 set for production, allocations to customers are currently being finalised.

Aston Martin is still pushing ahead with its electrification strategy, too, with all new vehicles due to have an electrified powertrain option – be that hybrid or fully electric – from 2025/26, while more than 90 per cent of its global portfolio will be hybrid or battery-electric by 2030.

Tobias Moers, chief executive, said: “I am pleased with our performance to date, delivering strong results in line with our plans to improve profitability.

“The shift to a demand-led, ultra-luxury operating model achieved earlier this year continues to support strong pricing dynamics, with order cover through 2021 and extending into 2022.

“Our excellent progress on “Project Horizon” as we drive efficiency and agility throughout our business is delivering results, with further operational milestones of consolidating our paint shops and restructuring our St Athan operations completed during the quarter.”