Aston Martin takes $39.3M pre-tax loss
10-10-13, 12:42 AM
#1
Aston Martin takes $39.3M pre-tax loss
Aston Martin takes $39.3M pre-tax loss
All is not well in Gaydon, as Aston Martin has reported a 24.6-million pound ($39.3M USD) pre-tax loss, an increase from the previous year's 21.2-million pound – $33.9-million – loss. That, friends, is not good.
Citing a nine-percent drop in sales for its range of sportscars (and a now discontinued city car) and a nearly 50-percent drop since its 2007 peak, AM only managed to bring in 461.2-million pounds ($736.6 million), according to The Telegraph. The official statement from Aston Martin blames a "market segment [which] has been severely affected by recession," with a particular drop in European sales.
Things might not be as bad as they seem, though. Part of the loss is being blamed on the launches of the new DB9, Vanquish and Rapide S, which are mostly one-time expenses. And even though it's going to take a while for the deal to take effect, it has a new technical partnership with AMG which could blossom into a more all-encompassing arrangement if things go well. Aston also has had additional cash since Investindustrial agreed to infuse a bunch of money into its depleted coffers. Of course, it's also fair to mention that Aston has spent the better part of its 100-year history in one spot of financial trouble or another, so we've become somewhat immune to the company's continued reports of economic hardship – hopefully this news is just another bump in the road.
http://www.autoblog.com/2013/10/09/a...-pre-tax-loss/
10-10-13, 12:43 AM
#2
Fewer than 150 Cygnet superminis sold before Aston clipped its wings
Fewer than 150 Cygnet superminis sold before Aston clipped its wings
The Aston Martin Cygnet wasn't exactly a hot seller during its two-year production run, which ended as of late last month. But despite British racing icon Sir Stirling Moss gifting one to his wife for her birthday, it seems that Britons didn't really care for it either: only 150 Cygnets were sold in Britain, Aston Martin's home country, Reuters reports.
Aston Martin hoped to sell 4,000 Cygnets per year, and things looked promising when demand was higher than supply – that is, until we realized the luxury automaker was taking too long to convert the Toyota iQ (Scion iQ in the US) donor cars on which Cygnets are based into luxurious city cars.
Here's to hoping Aston Martin finds another way to raise the average fuel economy of its vehicle lineup.
http://www.autoblog.com/2013/10/09/a...net-150-sales/
10-10-13, 02:09 AM
#3
Moderator: LFA, Clubhouse
It's always been surprising to me how much trouble AM has making money given the prestige of the brand. Maybe it's just the result of too many different owners in recent years pulling the company in too many different directions.
I haven't seen anything really definitive about the "technical partnership" with AMG, but [if] it involves AM using AMG engines or even just having AMG build to spec, that could substantially lower development costs of future engines.
I haven't seen anything really definitive about the "technical partnership" with AMG, but [if] it involves AM using AMG engines or even just having AMG build to spec, that could substantially lower development costs of future engines.
Last edited by gengar; 10-10-13 at 08:38 AM.
10-10-13, 07:15 AM
#5
Well, they make too many different cars that are the same.
From their own website, here's the main taglines they use to describe their cars
Vantage - Sports Car
DB9 - Timeless Sports GT
Vanquish - Ultimate GT
They all look good, but they all look the same, both interior and exterior. I challenge you to look at the interior of the Vantage and DB9 and tell them apart. Their advertising is all "best engine ever", "best brakes ever", etc, like an Apple product. And their base car, the V8 Vantage, has an engine that's completely underwhelming relative to the car it's in. 0-60 in 4.9? Really? That's not much faster than a Jag F-Type, and slower than the F-Type S, even though it makes more power!
In conclusion... I just think people are bored of Aston Martin.
From their own website, here's the main taglines they use to describe their cars
Vantage - Sports Car
DB9 - Timeless Sports GT
Vanquish - Ultimate GT
They all look good, but they all look the same, both interior and exterior. I challenge you to look at the interior of the Vantage and DB9 and tell them apart. Their advertising is all "best engine ever", "best brakes ever", etc, like an Apple product. And their base car, the V8 Vantage, has an engine that's completely underwhelming relative to the car it's in. 0-60 in 4.9? Really? That's not much faster than a Jag F-Type, and slower than the F-Type S, even though it makes more power!
In conclusion... I just think people are bored of Aston Martin.
10-10-13, 08:14 AM
#6
Lexus Fanatic
iTrader: (20)
Trending Topics
10-10-13, 12:58 PM
#9
Lexus Fanatic
One of the issues was just retooling for the new models coming , BUT yes AM has always had issues. Even from the start of the company when David Brown bought the company for chump change ( The owner David Brown is where DB comes from when they name their GT cars in case anyone cares and I am a auto historian ). Their cars are visually stunning , sound great, and are hand made BUT they are totally over priced and they don't perform anywhere near their price range competition. Yes people in this range of the market don't always care about HP and performance they just like what they like BUT rich guys love to one up one another. The Vanquish is not going to beat anything in its class, the Vantage is dated, too expensive,and their cars look the same. They ned to drop the price of their cars ( not going to happen ) or get them to perform better. They are stunning but they need to perform like they look. The exhaust note is stellar but that gets old when you are constantly looking at the tail lights of your competitors.
They need to make them faster and offer more driver focused vehicles. GT cars are great but when Ferrari makes a GT car like the new F12 it will dust even many of the hardcore sports cars while still retaining the grand touring comfort, looks, and usability . Aston need to look at Ferrari and mimic the performance of their GT cars. The DBS would have been destroyed by a 599 , let alone a 599 GTO. The Vanquish cant hold a candle to the F12, and the new Vantage S is a joke compared to a GT3RS.
They need to make them faster and offer more driver focused vehicles. GT cars are great but when Ferrari makes a GT car like the new F12 it will dust even many of the hardcore sports cars while still retaining the grand touring comfort, looks, and usability . Aston need to look at Ferrari and mimic the performance of their GT cars. The DBS would have been destroyed by a 599 , let alone a 599 GTO. The Vanquish cant hold a candle to the F12, and the new Vantage S is a joke compared to a GT3RS.
Last edited by I8ABMR; 10-10-13 at 01:02 PM.
10-10-13, 01:49 PM
#11
In my mind, AM's best years were under the ownership of Ford. Thats when most of their groundbreaking designs came out. Its pretty much been rehash after rehash since then, except for a couple of one off cars. I think the problem with AM's design is that when the DB9 came out, the design was just about perfect, and they've had trouble making perfect better ever since.
10-10-13, 02:14 PM
#12
In my mind, AM's best years were under the ownership of Ford. Thats when most of their groundbreaking designs came out. Its pretty much been rehash after rehash since then, except for a couple of one off cars. I think the problem with AM's design is that when the DB9 came out, the design was just about perfect, and they've had trouble making perfect better ever since.
My biggest gripe with the Ford Era ones, was the Volvo parts pin sharing. Just look at the Aston Martin Key
It's ripped straight from a XC90 etc..
Thankfully they improved it 10 fold
10-10-13, 02:38 PM
#14
Other than DB having a hand and some of the original 60's AM's (DB4, DB5) I have to agree. The DB9 and V8 Vantage really gave AM a foothold on design. What's lacked has been the powertrains. The 6.0L V12 is derived from two Ford 3.0L Duratec V6's, and just now puts out 550hp (510 just a year before that).
My biggest gripe with the Ford Era ones, was the Volvo parts pin sharing. Just look at the Aston Martin Key
It's ripped straight from a XC90 etc..
Thankfully they improved it 10 fold
My biggest gripe with the Ford Era ones, was the Volvo parts pin sharing. Just look at the Aston Martin Key
It's ripped straight from a XC90 etc..
Thankfully they improved it 10 fold
