Tue, May 22, 2018 12:00 AM
With pre-tax profits of more than £43m, Aston Martin has been named ‘the world’s fastest growing auto brand’ by consultancy firm, Brand Finance.
The report, which is published every year values the the world’s biggest auto brands by a range of factors, with profitability being the key indicator in the ‘fastest growing’ category.
“Aston Martin is roaring back into the top ranks of luxury car makers,” said David Haigh, CEO of Brand Finance. “The brand is famed for offering a high-end product, and respected for the quality they deliver. Exploiting one of the strongest series of planned model launches in the sector, Aston Martin is now a darling for investors and a brand that Britain should be proud of.”
Much of Aston Martin’s success is down to the recently launched DB11 V8 Coupe, though interestingly the company’s actual volume of vehicles produced in the past 12 months has actually dropped. 963 units were built, compared with 1,203 units in the first quarter of 2017. The profit margin grew by virtue of the fact that the average selling price of Aston Martin vehicles rising by 11% to £160,000.
Dr Andy Palmer, Aston Martin President and Chief Executive Officer, said: “Aston Martin delivered another quarter of positive pre-tax profit, achieved in a period of significant planned investment in new products and manufacturing facilities. This is a good set of results during a quarter of planned model changeovers, during which orders have continued to grow for our exciting new models.”
Globally order books have been exceeding production capacity with the growing markets in the US, China and Asia Pacific regions proving to be significant.