In what has been a series of woes for a British icon, Aston Martin, which has been one of Britain’s most successful automakers in its heyday, has been unable to get its act together after its October 2018 Initial Public Offering (IPO). Best known for being the favorite of Ian Flemming’s James Bond when it comes to cars, the holding company Aston Martin Lagonda Global Holdings Plc hasn’t fared that well since last year.With its current premier brands (Vantage, DBS, and DB11 Volante) languishing at dealerships in large numbers, the signs that all isn’t well with the automaker sticks out like a sore thumb among industry watchers. In addition to this, the management has had to go out of their way to raise finance to keep the business afloat.Being the only British carmaker to ever go through an
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In what has been a series of woes for a British icon, Aston Martin, which has been one of Britain’s most successful automakers in its heyday, has been unable to get its act together after its October 2018 Initial Public Offering (IPO). Best known for being the favorite of Ian Flemming’s James Bond when it comes to cars, the holding company Aston Martin Lagonda Global Holdings Plc hasn’t fared that well since last year.
With its current premier brands (Vantage, DBS, and DB11 Volante) languishing at dealerships in large numbers, the signs that all isn’t well with the automaker sticks out like a sore thumb among industry watchers. In addition to this, the management has had to go out of their way to raise finance to keep the business afloat.
Being the only British carmaker to ever go through an IPO, this year has been the one that the carmaker has been hit with one loss after the other. Out of the top 350 firms in the United Kingdom, Aston Martin Lagonda Global Holdings Plc has been the worst-performing so far. Company’s CEO Andy Palmer said recently:
“We’re not happy with the way the year has gone.”
However, there may be a silver lining in the current storm that the automaker finds itself in as the new DBX which is a Sport Utility Vehicle may change the fortunes of the ailing company. The SUV will have to compete with other well-known brands which include the Bentley Bentayga, the Lamborghini Uru and the Rolls Royce Cullman as well.
With a starting price of $189,900, the carmaker aims to market the SUV as a high-end modern SUV which will serve both Men and Women alike (women have accounted for less than 5% of sales in its entire history).
If all goes well, Aston Martin aims to increase its yearly production quota to 14,000 cars around 2023 which of course depends on how well the DBX performs. Already, the fire is on for Aston Martin to hit the right numbers as time is running out for the carmaker to prove its worth to shareholders and investors.
Aston Martin had already put up a factory in St. Athan Wales which has an employment capacity of 750 people according to the United Kingdom government. Added to this the recent $100 million line of credit has put the carmaker on tenterhooks to get the numbers right this time.
Already the company has given indications that it would not meet its previously stated targets for the of 6,500 cars which is below the 7,300 given at the beginning of the year. Apart from the sale of six DB4 GT Zagato Continuation supercar models and the revenues from the next James Bond movie where the carmaker has become a permanent fixture, the future may not hold much for the 105 British icon.
At the time of writing this report, the stock price of Aston Martin Lagonda Global Holdings PLC (AML) £491.40 which is down 2.9 % in the past twenty-four hours and a 67.34 % loss in value since its IPO.
Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.