Early signs from China, a key sales market for the DBX SUV, are positive, Aston Martin says
An Aston Martin logo is seen at a dealership in central London. Picture: REUTERS/HENRY NICHOLLS
Early signs from China, a key sales market for the all-important DBX SUV, are positive, Aston Martin said on Wednesday in a statement, without providing specifics. The DBX SUV, which began production during the second quarter, will make a positive contribution during the final six months of 2020, Aston Martin said. The company reported a first-half operating loss of £159.3m and negative free cash flow of £371m as it ramped up spending for the launch, while the coronavirus pandemic kept showrooms closed for much of the period.
Aston Martin’s financing costs are expected to be higher at £123m in 2020, due to more expensive debt, Gregor added.The company also said it was restating its results for 2019 to correct an error in deducting dealer and customer incentives from revenue in the US. The change resulted in an understatement of £15.3m its loss before interest, taxes, depreciation and amortisation.
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