Aston Martin Lost About $40M Last Year
British automaker Aston Martin reported a post-tax loss of $39.6 million USD (£24.9 Million) last year, blaming Europe’s economic straits for much of the loss.
Aston also cites “vehicle launches in the fourth quarter,” as one of the contributing factors. The brand’s earnings before interest, taxes, depreciation and amortization in 2012 totaled about $110 Million (£69.3 million).
A large shake up is currently underway at Aston Martin, with the brand committing to double its sales by 2016. Talk of an Aston Martin SUV is in the air, while Aston recently cut production of its Cygnet city car after poor sales.
SEE ALSO: Aston Martin Inks Deal with AMG
The brand also signed a new engine deal with AMG that will allow Aston to cut development costs for new engine architectures expected in upcoming models.
[Source: Telegraph.co.uk]
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Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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