Quantcast
HomeBusiness NewsBusinessAutomotiveAston Martin sales hit the brakes

Aston Martin sales hit the brakes

by LLB Editor
27th Feb 20 9:23 am

Struggling luxury car manufacturer has reported deeper losses for 2019 in what it described as “a challenging year”.

It made a loss before tax of £104.3m, compared with a £68.2m loss the year before.

Aston Martin said revenues fell due to a decline in sales to dealers, coupled with retail and customer financing support. It also took a £49m hit from shelving its Rapide E electric car programme.

In a separate announcement, the car maker said Mark Wilson will step down as chief financial officer no later than 30 April.

And it announced a £317m rights issue as part of a previously announced equity raise of £500m.

>>> London Loves Business readers receive a special 30% discount on this inspiring two day workshop to help grow your business more effectively in 2020

You may also like

Leave a Comment

CLOSE AD

Sign up to our daily news alerts