Aston Martin posts record sales in 2017.
Aston Martin Holdings (UK), the producer of luxury handcrafted sports cars, has announced that it has sold 5,117 sports cars in 2017, thus registering a 58 per cent year on year growth in retail sales.
The sales figures include the sell-out demand for its DB11 model and special vehicles including the Vanquish Zagato and Aston Martin Vantage GT8, said a statement.
The company's wholesale supply also saw an increase of 38 per cent, and the group now expects to exceed its previous full-year guidance of adjusted ebitda of at least [pounds sterling]180 million ($243.5 million) on revenues of more than [pounds sterling]840 million ($1.13 billion), it said.
Dr Andy Palmer, president and chief executive, Aston Martin, said: "We continue to perform ahead of expectations, both in terms of financial performance and in meeting our targets for the DB11 and special vehicles."
"This strong sales performance shows that our Second Century transformation plan is building momentum. Phase Two of the programme will be largely completed in 2018 with the introduction of the Vanquish replacement and production of the new Vantage, contributing to continued sustainable profitability at our company," he said.
In 2017, Aston Martin achieved its highest full-year sales volumes in nine years, driven by rising demand in North America, the UK and China, said a statement.
This sales performance comes amidst continued strong orders for the DB11, the Vanquish S and for special models that more than doubled year on year to 250 vehicles, it added.
As part of the Second Century Plan, Aston Martin is expanding its UK manufacturing footprint. The company has resumed output of special vehicles, notably the DB4GT Continuation, at its Newport Pagnell facility for the first time since 2007. And construction work is continuing at the new St Athan facility in Wales, due for completion in 2019, ahead of production of the new DBX SUV, it said.
Aston Martin will report 2017 full-year earnings in March 2018, it stated. - TradeArabia News Service
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|Publication:||TradeArabia (Manama, Bahrain)|
|Article Type:||Financial report|
|Date:||Jan 10, 2018|
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