Earnings this quarter is ten times that of last year.
Aston Martin is in the midst of a complete overhaul and expansion of its product portfolio, with the added production capacity to go with it. And it's already starting to pay off, and pay off in a big way.
The British luxury automaker recorded pre-tax profit of some $4 million this past quarter. And while that may not seem like all that much for a manufacturer selling vehicles for hundreds of thousands of dollars apiece, Automotive News Europe reports that it's actually ten times as much as it made in the same quarter last year.
The increase in profit, as you might expect, came from an increase in sales. Nearly twice as much as the same period last year, with 1,776 vehicles sold around the world so far this year. And the bulk of that increase came thanks to the vital markets in the Americas, which rose 185 percent over last year. Asia Pacific played its part as well, increasing 133 percent. That kind of performance, while expected of its vehicles, comes at a vital time for the automaker that recently listed shares on the London Stock Exchange.
The storied marque launched the DB11 just a couple of years ago, the new Vantage one year ago, and the DBS Superleggera just this past summer. It's also preparing to enter the crossover market with the forthcoming DBX, relaunching the Lagonda marque as a luxury electric vehicle brand, and is planning a string of mid-engined supercars – starting with the new Valkyrie. All the while it's transforming the old St. Athan air base in Wales into a second production facility, expanding its racing program, broadening its classics activity, and deepening its presence in markets around the world.
Aston Martin is in the midst of a complete overhaul and expansion of its product portfolio, with the added production capacity to go with it. And it's already starting to pay off, and pay off in a big way.
The British luxury automaker recorded pre-tax profit of some $4 million this past quarter. And while that may not seem like all that much for a manufacturer selling vehicles for hundreds of thousands of dollars apiece, Automotive News Europe reports that it's actually ten times as much as it made in the same quarter last year.
The increase in profit, as you might expect, came from an increase in sales. Nearly twice as much as the same period last year, with 1,776 vehicles sold around the world so far this year. And the bulk of that increase came thanks to the vital markets in the Americas, which rose 185 percent over last year. Asia Pacific played its part as well, increasing 133 percent. That kind of performance, while expected of its vehicles, comes at a vital time for the automaker that recently listed shares on the London Stock Exchange.
The storied marque launched the DB11 just a couple of years ago, the new Vantage one year ago, and the DBS Superleggera just this past summer. It's also preparing to enter the crossover market with the forthcoming DBX, relaunching the Lagonda marque as a luxury electric vehicle brand, and is planning a string of mid-engined supercars – starting with the new Valkyrie. All the while it's transforming the old St. Athan air base in Wales into a second production facility, expanding its racing program, broadening its classics activity, and deepening its presence in markets around the world.
