Aston Martin dealer sales up 82%

Aston Martin on Friday said sales to dealers surged 82% in 2021 on the back of sales of its DBX sports utility model.

It added that adjusted core earnings would be £15m lower than forecast as it shipped fewer-than-expected Valkyrie cars, but said the impact was due to “timing only” as all production of the model had been sold and remained allocated to customers with “significant deposits”.

“The Valkyrie programme is now running at rate for 2022 having focused on delivering with no compromises in the face of supply chain challenges and huge complexity in the production ramp-up which resulted in a timing impact for 2021,” said chief executive Tobias Moers.

“With a full year of Aston Martin Valkyrie programme deliveries in 2022 we are expecting to deliver significant growth, in addition to the launch of our second DBX derivative, intended to disrupt the performance luxury SUV market and the final edition of the V12 Vantage."

Aston Martin said it sold 6,182 cars to dealers last year and executive chairman Lawrence Stroll said retail sales were well ahead of wholesales “supported by strong pricing and improving residual values”.

“It is a very long time since the core business was in such good health as it is today,” he added.

“With a full year of DBX deliveries completed and our compelling product pipeline, including a new generation of front-engine sports cars in 2023, I am more assured than ever of achieving our medium-term objectives of revenues of £2bn and adjusted earnings before interest, tax, depreciation and amortisation of £500m by 2024/25."