Aston Martin Posts $95 Million Loss For The First Half Of The Year

Aston Martin has posted a substantial loss for the first half of the year, prompting a drop in the car manufacturer’s share price.

In financial documents released by the British car manufacturer, it is shown that it lost £78.8 million ($95.55 million) before tax in the first six months of the year, compared with the £20.8 million ($25.2 million) profit it reported in the first half of 2018.

Aston Martin blamed the slowdown in the luxury vehicle segment, lower demand for its vehicles in Britain and Europe and spending on its new plant in Wales for its loss. Shares fell 12 per cent in response to the news.

Also Read: Aston Martin May Cut Production Output After Lowering Sales Forecast

“This has been a difficult period, and we have seen the market reaction, but we are taking the right actions to deliver our strategy,” admitted chief executive Andy Palmer.

In addition to its $95.55 million pre-tax loss, Aston Martin has reported that revenues fell to £407 million ($493 million) in the same time period due to the decrease in sales of its high-end cars and the increased popularity of the more affordable V8 Vantage.

Aston Martin is spending a significant amount of time and money on its first-ever production SUV, the DBX, and if recent sales figures from the likes of Lamborghini, Bentley, and Rolls-Royce SUVs are anything to go by, it is the DBX which could prove to be the company’s saving grace. Aston is of course also developing the Valkyrie, Valhalla, and mid-engined Vanquish as part of its long-term goal to establish itself as a legitimate rival to Ferrari.

more photos...
  • StrangerGP

    Aston Martin shouldn’t have changed the design of its cars so drastically. The previous generation of the Vantage looks like a gentleman’s car, the new generation looks like it’s made for spoiled rich kids.

    • Bo Hanan

      100% agree. The Vantage is the “attainable Aston” and it should be flying off the shelf. The styling hasn’t inspired many to buy.

      • Astonman

        I love the looks of the new designs. At first I wasn’t so sure but when I see them in person – I really like them. The new Vantage is stunning in person. The problem I have is the interior. It just looks cheap. After a test drive, I couldn’t get over that interior. Shame because it is a beautiful car.

  • kachuks

    They should have built the DB10.

  • Six_Tymes

    imo, most of the blame falls on one simple design element, simple, but yet one of the most important, the head lights. they should have hired someone else to design amazing headlights. Instead, these look lame. they are too simple, slightly too far spaced apart, not large enough. they somehow look as if one could buy them “off the shelf.” They should look exquisite, unique, handsome and bold. A very bad time for large losses like that for this company, especially when the auto industry is heading into a slow down in sales over all.

    • iddqd

      couldn’t agree more- the proportions and general ‘look’ is perfect except for those bland headlights…shame really.

  • SteersUright

    No SUV’s or CUV’s. Weird re-interpretation of a design language that was damn near perfect and needed zero modification or updating. Relying on German engines that sound nothing as beautiful as their prior V8’s and V12’s. Interior design, where Aston’s really needed a major upgrade, see some sort of comical, cheap looking revision. Sorry, there is nothing to blame but mediocrity in execution. Buyers vote with dollars and they aint votin Aston Martin lately for some very obvious reasons. I certainly wouldn’t spent my 6-figures on anything they currently make. Now, their upcoming supercars?? Thats a whoooooooooole different story. I’d reserve one of those beauties in a heartbeat if they accepted great automotive design appreciation as payment.

  • brn

    They used to make the best looking cars on the road. They lost that edge.

    Wise move by Ford.

  • Six Thousand Times

    They’re going to make a lot of that back on their SUV. I think they need a new interior for the DB11 series to make it more competitive with the market.

  • Six_Tymes

    I was just intentionally over emphasizing what I think are the weakest of them all, the headlights. but yeah, I agree and see the others too. oh well, I hope the best for them in the future. and who knows, maybe they’ll go back to the design drawing board and surprise us all.

  • Wandering_Spirit

    The design lost its appeal. Look at those pictures. They look like incomplete cars. Sort of non-formed “fetuses” born premature. Shapeles, impersonal headlights, simple lines. A plain Jane in the field of supercars. It’s a pity. They used to make some of the most personal cars with a unique design mix between the elegance a gentleman driver requires and the performances of a pure bred GT. The sole hope now is Maserati.

This Is It: 2020 VW Golf Comes Out Ahead Of Schedule, What Do You Think?

These photos of a 2020 VW Golf look like the real deal and likely show an entry-level version.

Renault’s Sharpening Up Its Electric Game, Zero-Emissions Twingo Comes Into Play

The electric Twingo, which will use a rear-mounted motor, could launch as early as next year and is one of eight EVs Renault plans to have in its fleet by 2022.

Toyota Copen GR Sport Is A New Tiny Convertible Sports Car For Japan

Made by Daihatsu but marketed as a Toyota, the Copen GR Sport will launch next month priced at nearly $22,000.

Peugeot’s New Electric Mountain Bike Has Better Range Than Some EVs

The eM01 FS PowerTube has an autonomy of up to 87 miles and will launch early next year in five versions.

Ferrari 488 Pista Demonstrates That McLaren’s 720S Is Not Invincible

Although not exactly direct rivals, they’re both really fast and capable around the track, so it makes for an interesting comparison.

Toyota Corolla Hatch Gets New Gear Down Under, Starts At AUD $23,335

Equipped with new safety and convenience features, the updated Corolla will arrive at Aussie dealers on November 1.

2020 BMW 2-Series Gran Coupe Teased Ahead Of Tomorrow’s Debut

BMW is finally ready to fully embrace front-wheel drive sedans.

Hyundai And Kia Settle Class Action Lawsuits Over 2.0- And 2.4-Liter GDI Engines

The settlement covers approximately 4.1 million vehicles in the United States.

Audi Grounds Their Flying Car Project

The company has suspended work on the project and is reviewing their partnership with Airbus.

Pimp Your 2020 Chrysler Pacifica With Official Red S Edition Package For $3,995

The Red S Edition package is available for 2020 Chrysler Pacifica Limited gas and hybrid models and focuses mostly on the interior.