Aston Martin has lowered its production forecast for the DB12 – Kommersant

British automaker Aston Martin Lagonda Global Holdings reportedthat in the third quarter its net loss amounted to £48.4 million. A year earlier, the company also received a loss of £55.5 million. At the same time, net revenue increased by 15%, to £362 million. The company’s results were worse forecasts analysts had expected more modest losses of around £38 million and higher revenue of £370 million.

The weak results are explained by the problems that Aston Martin faced in the production of its new model DB12, which entered the market in the summer. The DB12 engine produces 680 hp. s., acceleration – up to 100 km/h in 3.6 seconds, top speed – 325 km/h. The company stated that difficulties with the supply of components for the new model led to the fact that by the end of the year, Aston Martin would be able to produce only about 6,700 DB12 cars instead of the 7 thousand previously expected.

Investors reacted extremely negatively to Aston Martin’s quarterly earnings results and the lowered annual production forecast for the DB12. After the publication of the report, Aston Martin shares fell by 12% in trading on the London Stock Exchange.

Evgeny Khvostik