Aston Martin is gearing up for the debut of its first SUV, dubbed the DBX. The 106-year-old carmaker reported a third-quarter loss
LONDON - Luxury British carmaker Aston Martin swung to a third-quarter loss on Thursday, saying its full-year wholesale volumes would be lower than previously guided after slumping demand in Europe and Asia.
“We’re essentially holding the cost of a complete factory right now without the benefit of the revenues coming in... so from that point of view of course it’s a really important model,” Chief Executive Andy Palmer told Reuters. But Aston has also suffered since its flotation in October last year when shares launched at 19 pounds before dropping for months and languishing at between 4 and 5 pounds for the last few weeks.Earlier this year, the company announced it was raising $150 million in debt at a 12% interest rate to bolster its balance sheet ahead of the launch of the DBX.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
James Bond Favorite Aston Martin Lagonda Loses $17 Million In Third QuarterThe luxury car group—one of the world’s biggest sports car brands— said it was hit by a drop in demand across Europe, Asia, Africa and the Middle East and a fall in wholesale volumes.
Read more »
Kansas City voters choose to remove Martin Luther King Jr.'s name from a historic streetVoters in Kansas City, Missouri, decided to remove MLK's name from a historic boulevard that was renamed in January. The vote came after debate between groups intent on honoring King's legacy and some who didn't want to lose their neighborhood's identity.
Read more »
J.J. Martin Brings Her Brand of Bright Colors and High Vibrations to LondonMartin marked the launch of her exclusive “Goddess” capsule for Matchesfashion.com with cocktails and energy healing.
Read more »
Walter Martin Salutes Jonathan Fire*Eater on 'The World At Night (For Stew)': ExclusiveMartin, a former member of the Walkmen, played alongside Lupton in the influential garage rock band Jonathan Fire*Eater.
Read more »