Aston Martin Plans to Lose Money for Two More Years
Aston Martin is going to lose an awful lot of money in the future, but the company says that’s OK because it expects to earn each of those pounds back and then some.
That might sound slightly silly, but late last month the British sports car brand announced a five-year-long investment plan that will yield – among other things – a new platform. Over the course of that period, the company plans to drain itself of roughly $843 million. The strategy is Aston Martin’s largest-ever single investment and seeks to modernize its woefully outdated product line.
The company is co-developing engines with Mercedes AMG and the new platform is first expected to underpin a new version of the DB9 grand tourer in 2016. Currently, the company isn’t being so bold as to suggest exactly when it will return to profitability, but Reuters reports that it expects to be there sometime after 2016 when the new model comes online.
For now, the company is remaining focused on sports cars. Its long-rumored Lagonda crossover will remain on the back burner, although product boss Ian Minards told Bloomberg that the company remains “open-minded” to building it.
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[Source: Automotive News]
Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
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