Aston Martin reports greater losses

British luxury brand Aston Martin’s financial woes are growing according to its first half of 2020 figures, with a NZ$310 billion loss.  

This can be partly attributed to the scale up of the DBX SUV, which has started arriving at UK dealerships from the new plant in Wales that was refitted from an air force base.

Production of the DBX started in the second quarter and first examples are due into New Zealand by the third quarter.

Aston Martin has halted production of its sports cars until August 2020 to help it reduce its stockpiles. 

Now that the DBX is in production cash flow should improve. However it’s unclear how long pandemic related reduced buying behaviour could impact its sport cars, which have been selling slower than expected for the past two years. 

It will also be interesting to see what the new Aston Martin CEO, Tobias Moers, implements when the former AMG boss starts in August.