Annual Aston Martin car sales to dealerships up 82%, Auto News, ET Auto

Aston Martin Cars

Aston Martin said sales to dealers in 2021 jumped 82%, even as the British luxury carmaker forecast annual adjusted core profit below expectations due to delays in shipments of its Valkyrie sports car in limited edition.

Aston Martin said 10 Valkyries shipped in the fourth quarter, fewer than expected.

Aston Martin, the carmaker of choice for fictional agent James Bond, said it expected adjusted annual profit to be around 15 million pounds ($20 million) lower than forecast.

However, he said Valkyries that had yet to ship were already being assigned to customers, with large deposits.

“The Valkyrie program is now running at the pace of 2022, having focused on uncompromising delivery in the face of supply chain challenges and the enormous complexity of ramping up production, which has resulted in a impact on the calendar for 2021,” said chief executive Tobias Moers. in a report.

Overall, the company sold 6,182 cars last year, helped by demand for its first sport utility vehicle, the DBX. Shares rose 1.3% in early trade.

Pandemic travel restrictions have left many affluent consumers with more disposable income, fueling demand for premium and luxury cars.

On Thursday, another British luxury carmaker, Bentley, announced a banner year as global sales jumped 31%.

Since its IPO in 2018, Aston Martin shares have fallen around 30% and the company has run out of cash, prompting billionaire chairman Lawrence Stroll to buy a stake in the company amid plans fundraising.

The company said its cash balance at the end of 2021 was around 420 million pounds, higher than expected.

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Tesla’s October-December shipments were up about 70% from a year earlier and nearly 30% from the prior quarter’s record shipments.