Aston Martin is Back to Making Money

Aston Martin is Back to Making Money

The British automaker posted a first-quarter profit for the first time in a decade.

Aston Martin said strong orders for the new DB11 helped more than double revenues from £92.6 million ($120 million USD) to £188.3 million ($244 million). Pre-tax profit came in at £5.9 million ($7.64 million), compared to last year’s losses of £29.7 million ($38.5 million). The company also attributed its success to a strong retail presence and market share gains particularly in the U.K. and China.

SEE ALSO: 2017 Aston Martin DB11 Review

The brand has had an annual loss for each of the past six years and has gone bankrupt seven times in its history. Last year, it sold 3,687 cars but Aston Martin hopes to boost that figure by over 30 percent this year.

“The group has made a strong start to the year. We are delivering on our ‘Second Century’ transformation program and building sustainable profitability,” said Dr. Andy Palmer, Aston Martin president and CEO. “Forthcoming models including the new Vantage and Vanquish will expand on our recent growth, underpinned by the financial resources and operational discipline of a true British success story in luxury car production.”

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