Future situation14 Jun 2022 13:10
By 2025, Aston Martin plans to sell 10,000 vehicles year, up nearly 40% from 2021. That is close to Ferrari’s annual output. Last year Aston Martin sold more than 30,000 DBXs, and orders in the first quarter rose about 60%. It delivered 14, $3.3 million Valkyries in the quarter and has a target to deliver 90 of them in 2022.
Investment researcher Jefferies, despite the worsening losses, described news of a replacement CEO as bringing better headlines and hopes of management stability.
“Whilst not good, first-quarter numbers look better than expected overall with guidance confirmed. New CFO Doug Lafferty and CEO Amedeo Felisa will hopefully help stabilize management across the company,” Jefferies analyst Philippe Houchois said in a report.
Houchois liked the 8-point improvement in gross margin as pricing improved.
But Breaking Views said Aston Martin’s slow embrace of electric vehicles is a problem.
“The snag is that Aston Martin is way behind rivals in developing electric cars, with its first pure battery ride not due until 2025. As the sector shifts away from fossil fuels, Aston Martin will need some driving worthy of the British super-spy,” Unmack said.