Quantcast
Is your car your pride and joy, or are you ready for a change? Let us know and you could win a £300 John Lewis voucher | No thanks

Aston Martin posts a £24m loss in 2012

Published 09 October 2013

Aston Martin has reported that it posted a loss of £24.6 million in 2012, continuing the financial struggles it has been enduring since the onset of the global economic downturn in 2008. News of the loss follows the announcement that the unsuccessful Cygnet luxury supermini is ceasing production.

The company is owned by Kuwaiti and Italian private equity groups, and has failed to capitalise on the fact that he luxury and supercar markets are currently enjoying strong growth, especially in China and the Middle East. The lack of profitability is compounded by its private equity owners, which include Investment Dar – a major Kuwaiti finance company - which ran into trouble during the financial crisis. Without ample investment in new models, Aston may fall behind rivals such as Ferrari, Bentley and Lamborghini, all of which have major manufacturers as owners.

Sales in 2012 fell to 3800 from 4200 the previous year, and the drop has ben magnified by the spectacular failure of the Cygnet. It's thought that fewer than 150 have been sold in total. But Aston Martin is optimistic for the future, with a recent deal signed with Mercedes-AMG GmbH division to develop a new generation of bespoke V8 and V12 engines. 

Comments

Add a comment

 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.