Aston Martin's losses grow in 2015
[LONDON] British luxury carmaker Aston Martin made a pre-tax loss of 127.9 million pounds (S$232.9 million) in 2015, the fifth consecutive year the company has failed to make a profit, as the number of cars it sold fell and as it invests in expansion.
The firm said on Monday that it had sold 3,615 cars last year, down from the 3,661 luxury models in 2014. CEO Andy Palmer told Reuters in October that he expected volumes would be"slightly above" 2014 levels.
The firm, famous for making the DB5 sports car driven by fictional secret agent James Bond, is also investing heavily to build a new DBX crossover model at a new facility in Wales as part of plans to widen its appeal.
In 2014, the firm reported a pre-tax loss of 71.8 million pounds.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources