Khodrocar - The brand also predicted its EBITDA (earnings before interest, tax, depreciation, and amortization) will surpass $244 million on more than $1 billion in revenue. Andy Palmer, Aston Martin CEO, declared the brand's future vision and aggressive new product timeline have put the company on a track toward success. Aston Martin will report full fiscal year earnings in March. The goal is to turn a profit, something that has proven elusive for the company all through its 100-plus year history.
Palmer said the strong sales performance is evidence that the "Second Century" plan continues to build momentum at Aston Martin. The vision will see the brand launch a new car every year through 2022. Many of the inbound cars, and the DBX SUV, will rely on electrification with the ultimate goal of fully electric cars.
"Phase Two of the program will be largely completed in 2018 with the introduction of the Vanquish replacement and production of the new Vantage, contributing to continued sustainable profitability at Aston Martin," he said.
Speaking of the new Vantage, production will get underway with a very strong start. Last November, Aston Martin told media that buyers have already snapped up 80 percent of the 2019 Vantage's first production allocation. Although the car is nearly sold out, or potentially is by now, it's unclear how many 2019 Vantages will be produced in its first year.
The brand is also expanding its manufacturing footprint. The DBX will be built in a new plant in St. Athan, Wales, that is due to be open in 2019, while a limited run of 25 DB4GT Continuation models are being built at the Newport Pagnell facility, which hasn't been used for manufacturing since 2007.
Source: Motor Authority