By Louis Goss
Luxury sports car seller Aston Martin today said its losses had more than doubled due to the impact of supply chain disruption in the first half of 2022.
Aston Martin said its sales volumes dropped eight per cent from 2,901 in the first half of 2021 to 2,676 in the first half of 2022.
The drop came as temporary supply chain shortages hit Aston Martin’s sales, particularly in the second quarter.
Most prominently, the supply chain issues cost Aston Martin £80m in Q2, after they slowed the delivery of 350 of the car maker’s DBX707 SUVs in June.
The firm said it has now begun delivering its new line of luxury SUVs to customers, as it said it expects the supply chain issues to ease in the second half of 2022.
The disruption came after orders for Aston Martin’s DBXs increased 40 per cent compared to last year, amid robust demand for its cars that have seen its sports cars sell out for the entirety of 2023.
Aston Martin’s executive chairman Lawrence Stroll claimed that outside of the supply chain issues faced in the first half of the year, the “underlying fundamentals of Aston Martin have never been stronger.”
The results come after Aston Martin in May recruited ex-Ferrari chief executive Amedeo Felisa as its new chief executive officer.
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