The British manufacturer reported a wider first-quarter loss and a 60% drop in revenue
The carmaker recently got a £536m capital injection from investors including its new chair, billionaire Lawrence Stroll.
“Aston is still a cash-burn story,” said James Congdon, head of Canaccord’s research division Quest. “The market is concerned about the outlook and whether Aston will have enough cash to carry out the restructuring plan that they had outlined.” Aston Martin initially rose after the manufacturer said orders for its pivotal DBX model have continued to grow even with most of its showrooms closed because of the coronavirus. Deliveries of the DBX, a $189,000 sport-utility vehicle at the heart of Aston Martin’s comeback strategy, are on track to begin in summer, the company said Wednesday.
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