British maker announces third-quarter pre-tax loss, share price hits an all-time low as a result
7 November 2019

Aston Martin has announced a quarterly loss as it continues to struggle following its listing on the London Stock Exchange last year.

The car maker announced a third quarter pre-tax loss of £13.5 million. That compares unfavourably with a profit of £3.1m in the same period last year, and follows a £79m loss in the second quarter of 2019. Overall pre-tax losses for 2019 stand at £92.3m.

Shares rose by around 8% this morning as the results have beaten initial expectations and keep Aston’s profit guidance for 2019 intact. However, they have since dropped back to previous levels and gone even further, hitting a new all-time low of 402.30 this lunchtime. 

The news is blamed on lower-than-expected demand for the Vantage. Just 878 have been registered in the first nine months of 2019 in Europe – less than half the number of 911s that Porsche registered in September alone.

CEO Andy Palmer told the Financial Times: “The segment of the market in which Vantage competes is declining, and, notwithstanding a growing market share, Vantage demand remains weaker than our original plans. As a consequence, total wholesale volumes are down year-on-year as we balance growth, brand positioning and dealer inventories”.

Aston has a lot riding on its upcoming DBX SUV, which will be revealed on November 20 before customer deliveries begin in the second quarter of next year.

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7 November 2019

V8 Vantage isn't selling.   Why?   Because it looks a terrible disjointed mess.   I had another look at a couple of them at the dealership yesterday and I really just couldn't get excited by them.   Not even to the point of wanting to sit in the car!

 

There's nothing to the bonnet to suggest power, it's just like an ironed duvet covering the front; featureless.   Grill looks like a vacuum cleaner.   Worse, it's not even a continuous grill because of a hole for towing and the parking sensors.   Lack of integrated design and planning.   Rear drops away without any big haunches to at least give an impression of pent anger!   Instead more like its cowering in fear with its tail between its legs.   Rear end still looks that it's been given a wedgie.

 

I did stop and have another look at the old V8 Vantage and it really does have a presence.   It's a car that makes you look at it.

 

So, Aston, stop kidding yourself and admit the designs suck.   Find someone to fix them and quickly.   Do it before you release the DBX.

 

7 November 2019
Symanski wrote:

V8 Vantage isn't selling.   Why?   Because it looks a terrible disjointed mess.   I had another look at a couple of them at the dealership yesterday and I really just couldn't get excited by them.   Not even to the point of wanting to sit in the car!

 

There's nothing to the bonnet to suggest power, it's just like an ironed duvet covering the front; featureless.   Grill looks like a vacuum cleaner.   Worse, it's not even a continuous grill because of a hole for towing and the parking sensors.   Lack of integrated design and planning.   Rear drops away without any big haunches to at least give an impression of pent anger!   Instead more like its cowering in fear with its tail between its legs.   Rear end still looks that it's been given a wedgie.

 

I did stop and have another look at the old V8 Vantage and it really does have a presence.   It's a car that makes you look at it.

 

So, Aston, stop kidding yourself and admit the designs suck.   Find someone to fix them and quickly.   Do it before you release the DBX.

 

 

Those front grille 'lips' like molten camembert are way too challenging.  It's not a pre-collapse TVR for chrissakes.... That the Vantage is selling less than 7% of the 911 is a terrible revelation. They could have copied the previous version and - combined with better build quality and engineering - they'd have still outsold this Reichmann Monstrosity.

What's the excuse ?  They were designing for the blingtastic Asian market ? Maybe Dr Palmer should returns the millions he made when he dumped his shares in the first few weeks of the IPO ?  Industrial Invest will have Palmer's and Reichmann's naughty bits on the chopping block and I'll wager it'll be less than 18 months before they're both be singing soprano......

13 November 2019

Vantage just got a new competitor. The Roma. A real study in elegance and power.

16 November 2019
The_Jinx wrote:

Vantage just got a new competitor. The Roma. A real study in elegance and power.

 

Yes, it's rather beautiful, especially in darker colours.   The dash wraping around the driver and passenger reminded me of the 1960's Batmobile though...

 

Worse, Aston are going to release a drop top version of the Vantage with exactly the same looks.   A sure sign of insantity in repeatedly doing the same expecting different results.

 

7 November 2019

Compared to the old one, as mentioned by the other poster as well.

How did they sign it off, surely the customer clinics didn't have people ushered in from Specsavers over the road?

7 November 2019

The old Vantage was a bit of a mixed bag (reliability, terrible auto)  but it looked fantastic and was bought largely on that basis.  The new one may be a better car, but looks nothing as good.

7 November 2019

He says the market sector is shrinking and he only produces 2 models and they are both in that sector! And it doesn't seem to be shrinking for Porsche! The car is so ugly, as the others have said. An Aston should be beautiful. The fact is the Aston just isn't as good as a Porsche 911or a McLaren 540C and they are the same price.

7 November 2019

Agree with the above.  It just doesn't look right for purpose - more like a new Supra (in a good way).

7 November 2019

but I think the fact that it sits at a price point £30-40k higher than the old model might just have something to do with it as well. Once you're up at that level and add a few options you're probably knocking on the door of the DB11 which just gives a better all round drive it seems (so i read anyway)

Regarding the styling, the biggest problem was probably DB10 that preceeded it and raised expectation. It was much prettier albeit perhaps a bit of an F-type clone.

Minor details could make a decent improvement - as a minimum i would not run the taillights up into the raised rear and i would give it some decent bore exhausts instead of the slightly apologetic current ones.

Interior is also not that great.

But its hard to get past the fact that its too big and too expensive and not desirable enough.

8 November 2019
harf wrote:

but I think the fact that it sits at a price point £30-40k higher than the old model might just have something to do with it as well. Once you're up at that level and add a few options you're probably knocking on the door of the DB11 which just gives a better all round drive it seems (so i read anyway)

Regarding the styling, the biggest problem was probably DB10 that preceeded it and raised expectation. It was much prettier albeit perhaps a bit of an F-type clone.

Minor details could make a decent improvement - as a minimum i would not run the taillights up into the raised rear and i would give it some decent bore exhausts instead of the slightly apologetic current ones.

Interior is also not that great.

But its hard to get past the fact that its too big and too expensive and not desirable enough.

I didn't like the DB10 much either...

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