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Aston Martin Reports Exceptional Growth in 2017
As anticipated in November, Aston Martin experienced a remarkable year in 2017. The luxury automaker sold 5,117 vehicles, reflecting a 58 percent increase compared to 2016, and marking the first time since 2008 that sales have surpassed the 5,000-unit threshold.
Driven by high demand for the DB11 model, Aston Martin is projecting pre-tax earnings of approximately $244 million (around 180 million pounds) based on revenues exceeding $1.1 billion (approximately 840 million pounds). In addition to achieving a complete sell-out of the DB11 grand tourer, the company reported robust sales in its special vehicles segment, moving 250 models such as the Vanquish Zagato and Vantage GT8—double the quantity sold the previous year.
Dr. Andy Palmer, the CEO of Aston Martin, took to Twitter to share the encouraging news: “Pleased to announce that in 2017, Aston Martin delivered record sales growth. Retail sales are up 58% due to the sell-out demand for the DB11, outpacing wholesales, which increased by 38%. A total of 5,117 units were retailed, surpassing the 5,000 mark for the first time since 2008. We expect to exceed our full year EBITDA guidance.”
Looking ahead to 2018, Aston Martin is set to introduce new versions of the Vanquish and Vantage, the latter of which is nearly sold out. CEO Andy Palmer stated, “We continue to perform ahead of expectations, both in financial results and in meeting our targets for the DB11 and special vehicles. This strong sales performance indicates that our Second Century transformation plan is gaining traction. Phase Two of this program will be largely completed in 2018 with the launch of the Vanquish replacement and the production of the new Vantage, contributing to sustainable profitability at Aston Martin.”
Additionally, the British sports car manufacturer plans to expand its manufacturing capabilities in the UK. Production of the stunning DB4 G.T. Continuation will resume in Newport Pagnell, England, while preparations are underway at the new St Athan factory in Wales for the highly anticipated DBX crossover.
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