F1: Aston Martin unveil car for 2021 season
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The iconic British brand heralded a year of “significant progress” as revenues bumped to £1.1 billion, marking a 12 percent increase on 2019. Wholesales also increased as the company returned to more normal operations after Covid restrictions eased. Aston Martin has begun a journey into electric vehicles with the launch of its mild-hybrid, the DBX Straight-Six in China last year. It is now aiming for further developments with its first plug-in hybrid electric vehicle expected in 2024 and its first battery-electric vehicle aimed to launch in 2025.
The carmaker also aims to have all new car lines with an electrified option by 2026.
As well as electrification, Aston Martin has invested in a transition to ultra-luxury with the launch of its new Valkyrie Coupes which have already sold out with a waiting list running.
Lawrence Stroll, Aston Martin Lagonda Executive Chairman, said: “The Aston Martin Valkyrie programme pushes the boundaries of what is possible to bring to market outside an F1TM racing environment.
“We inherited a challenging programme, and while it was disappointing that some deliveries were rescheduled from late 2021, following an in-depth review and now under a dedicated team we are confident of continuing to deliver these truly extraordinary vehicles to our customers with no compromises.”
Mr Stroll also credited the return of Aston Martin to Formula One after 61 years for an increase in brand exposure and desirability.
Globally car manufacturing has struggled since the pandemic, largely driven by a shortage of key semiconductor chips which are used in all areas of production from dashboard displays to braking systems.
The Society of Motor Manufacturers and Traders previously described 2021 as a “dismal year” after car production fell to its worst total since 1956.
Tobias Moers, Aston Martin Lagonda CEO, said: “The operating environment remained challenging throughout 2021.
“Despite this, we grew our core business to plan, with a demand-led delivery of our volume targets and enhanced core profitability.
“We achieved strong pricing and closed the year with dealer stock at optimum levels.
“We also started delivery of the once-in-a-generation Aston Martin Valkyrie hypercars.
“This was achieved despite the technical ambition of the product, supply chain constraints and with no compromise on quality, resulting in fewer cars than originally planned shipping in 2021.”
Looking ahead Aston Martin expects further growth in 2022 with an eight percent increase in volumes and the delivery of two new vehicles- the DBX707 and the V12 Vantage.
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The firm admitted disruption from supply chain issues would continue despite attempts to reduce the impact on production with the first quarter of 2022 expected to be the smallest.
Aston Martin’s share price has ticked up this morning having fallen around 50 percent since June last year with Victoria Scholar, Head of Investment at interactive investor, predicting it could now be past the trough.
She explained: “The stock has had a bumpy ride since its flotation, most recently grappling with problems with the global supply chain since the pandemic.
“However, as these pressures start to ease, the company is in a much better position as it looks set to launch new, more profitable models and a full-electric car in 2025.”
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