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Thursday, November 23, 2017

Aston Martin On Target For First Pre-Tax Profit Since 2010

Aston Martin chief executive says the British marque is on track to post its first annual pre-tax profit since 2010.

In the first nine months of the year, Aston Martin’s pre-tax profit reach 22 million pounds ($29 million), Reuters reports. To put this figure into perspective, Aston lost 124 million pounds ($165 million) in the same time period in 2016.

Palmer says that demand for the new DB11 has been a key contributor in turning around the company’s financials. With the launch of the DB11 Volante and all-new Vantage, things are looking good for the carmaker.

“Our strong financial performance and continued profitability reflects the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year,” Palmer said.

Following Palmer’s appointment as chief executive in 2014, the company has pursued an aggressive turnaround plan. Alongside launching overdue successors to the DB9 and Vantage, the plan includes creating the brand’s first SUV and a halo hypercar developed alongside Red Bull, dubbed the Valkyrie.


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