Let's just say the new DB11 has been a hit.
For too many years Aston Martin failed to offer new product, resulting in financial losses. This year, however, is different, as the UK carmaker’s CEO. Dr. Andy Palmer, told Reuters it expects to post its first annual profitability for the first time since 2010. Breaking this down somewhat, Aston Martin stated that in the first nine months of this year it recorded a pre-tax profit of 22 million GBP, about $29 million. It also sold a total of 3,300 cars, a 65 percent increase. In the first nine months of 2016, just to compare, it lost 124 million GBP.
The financial turnaround can be attributed to the early stages of the previously announced Second Century Plan. This plan will ultimately see a barrage of new models, which began with the DB11. Until this past week’s reveal of the new Vantage and Vantage GTE, it was the DB11 that enjoyed the spotlight. “Our strong financial performance and continued profitability reflects the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year,” Palmer said. Although 2017 isn’t over just yet, the financial forecast is positive enough for Aston Martin to make this profitability prediction.
Asked whether the carmaker would be profitable this year, Palmer told Reuters: “It’s our intention to be.” Let’s hope that comes true, because the next new models will be the all-new Vanquish, the DBX crossover, a pair of Lagonda sedans, and even a mid-engined supercar to rival the McLaren 720S and Ferrari 488 GTB.