Is the DBX Aston Martin's saviour?
Here's something to digest: 1 in 2 Aston sold in 2021 (so far) was a DBX
Around twenty years ago, Porsche was in trouble, especially in terms of profitability. They started working on a new model and they eventually came up with the Cayenne SUV, which sparked a lot of controversy but ultimately saved the company and ended up becoming an instant best-seller. Twenty-odd years later, Aston Martin is in a similar position. Can the DBX save it?
The short answer, unfiltered and condensed, is 'probably'. Aston Martin has just announced its Q1 2021 results and numbers don't lie: the DBX is already helping Aston get back on track. Let's start with the bad news. The company is still far from being financially healthy, having posted a loss of £42.2m, and they 'only' sold 1,353 cars, which may sound like a lot but it actually isn't when compared to Lamborghini and Ferrari, two of Aston's direct rivals, as the two Italian manufacturers delivered over 2,400 and 2,700 vehicles respectively over the same period of time.
Aston may not be out of the woods yet but they're certainly heading in the right direction when you consider that they still sold twice as many cars in Q1 2021 as they did in Q1 2020 and - this is the important bit - 55% of those sales came from the DBX alone. Revenue also increased by 153% year on year, and again they've got the DBX to thank for that.
Aston's boss Tobias Moers said he is "pleased with the brand's performance in the first three months of the year, delivering results in-line with our expectations of good growth and progress on the path to improved profitability and cash generation."
The company set a 6,000-unit sales goal for 2021 and the company's executive team believes they can still achieve that by unveiling several planned special edition models in the coming months. Furthermore, the long-awaited and much-hyped Valkyrie and Vahalla supercars are scheduled for 2022 and 2023 (hopefully), which should help Aston Martin reach its goal of selling 10,000 cars a year by 2025.