Aston Martin thinks its financials are improving as supply chain problems ease

Stroll is striving to help Aston Martin increase margins and become like rival Ferrari, bringing in former Ferrari top boss Amedeo Felisa as CEO of his company in May this year.

The owner of the Formula One racing team expects to sell more cars in the second half of 2022 as some supply chain eases and production ramps up production of its more profitable models, including the DBX 707 SUV, and the V-12 Vantage sports car. .

“We ended June with over 350 DBX707s we had planned to deliver in Q2, still waiting for final parts, consuming tens of millions of cash and we have more than enough space to meet strong demand. are temporarily limiting our ability to do so,” Stroll said.

“We now began delivering these vehicles in July and expect further improvements in the supply chain as we move through H2, supporting the delivery of our full year goals.”

The company reported a pre-tax loss of £285.4 million ($347.99 million) for the six months ended June 30, compared to a loss of £90.7 million a year earlier.

See also  Artificial intelligence could help fleets make vehicles last longer -- saving money and lives