ASTON Martin reports lower sales, higher selling costs and “challenging trading conditions” could hit the luxury car maker’s annual profits.
Dr Andy Palmer, Aston Martin Lagonda president and group CEO, said: “From a trading perspective, 2019 has been a very disappointing year. Whilst retails have grown by 12 per cent, our best result since 2007, our underlying performance will fail to deliver the profits we planned, despite a reduction in dealer stock levels.
“We are taking a series of actions to manage the business through this difficult period. Whilst we are disappointed with trading performance in 2019, our focus is now on revitalising the business launching DBX and ensuring profitable growth in the medium-term.”
The Gaydon-based company is currently reviewing its planning for the financial year 2020 and will provide an update in due course. Preliminary Results for the twelve months to 31st December 2019 will be announced on 27th February.