RE: Software issues are fixedToday 10:44
“we got heavily penalized with our share price,” stroll told journalists at an event at the company’s headquarters in ***don earlier this month. “we are half what we were, for missing a few db12s.”***don, england – aston martin was “heavily penalized” by investors for last year’s software-related delay in starting production of its new db12 sports car, chairman lawrence stroll said.
problems integrating of the aston martin-developed software in the first of the new front-engine sports cars during the third quarter last year caused a reduction in deliveries, which in turn caused the share price to sink to less than 2 pounds ($2.50) now from almost 4 pounds last summer.
meanwhile, aston martin expects no more delays when it comes to integrating its new software on subsequent models.
“it's the same one in db12, same one in vantage and the same one in [dbs replacement],” stroll said. “so, you only have to go through that experience once.”
aston martin is only building the db12 in the first half of 2024 as it prepares for the new versions of the latest vantage, dbs replacement and updated dbx.
stroll said he preferred to restrict sales rather than push older models.
“it’s potentially financially painful for us, but that is the right way to grow a luxury business,” he said. “we don't want to stuff the market with dbxs with the old interior.”
aston martin sold 2,939 dbxs last year, accounting for 44 percent of the brand’s total 6,620 sales for 2023, according to company figures.
aston martin expects to sell about 7,500 cars this year as production of the vantage and dbx return in the second half. the company aims for sales of 10,000 by 2027, stroll said.
“it was a big challenge for a small company like this to take on hmi challenges and redo the whole software program,” stroll said. “we struggled like every other oem struggled. i don't think it's unique to us to have software integration issues.”stroll said that aston martin had now overcome its software problems and was catching up on a backlog of db12 orders.
“all the software problems are behind us,” he said.
replacement and updated dbx.
stroll said he preferred to restrict sales rather than push older models.
“it’s potentially financially painful for us, but that is the right way to grow a luxury business,” he said. “we don't want to stuff the market with dbxs with the old interior.”
aston martin sold 2,939 dbxs last year, accounting for 44 percent of the brand’s total 6,620 sales for 2023, according to company figures.
aston martin expects to sell about 7,500 cars this year as production of the vantage and dbx return in the second half. the company aims for sales of 10,000 by 2027, stroll said.