Aston Martin is Killing It—Especially with the DB11
Sold 5,000 cars for the first time since 2008
Back in November, Aston Martin said sales were strong enough that it would likely turn a profit in 2017. At the time, it had sold 3,330 cars, an increase of 65 percent for the year. Now that 2017 has drawn to a close, it looks like those record sales continued, helping Aston turn a profit for the year.
Aston Martin says it sold a total of 5,117 cars in 2017, passing the 5,000-car milestone for the first time since 2008. That's a claimed 58-percent year-over-year sales increase for the British automaker. It credits the newly introduced DB11 for that strong sales performance, as well as the Vanquish S and special editions like the Vanquish Zagato and Vantage GT8.
Even better for Aston Martin, it says it made a yearly profit in excess of $244 million. Granted, that's only counting earnings before interest, taxes, depreciation, and amortization, which makes it more of an on-paper profit, but it's still a good sign. When it reports its full-year earnings in March of this year, expect to see more information on exactly how profitable Aston actually was in 2017.
"We continue to perform ahead of expectations, both in terms of financial performance and in meeting our targets for the DB11 and special vehicles. This strong sales performance shows that our Second Century transformation plan is building momentum," said Aston Martin CEO Andy Palmer in a statement. "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."
The Second Century Plan that Palmer referenced was laid out in August of 2016. It involves introducing seven new models by 2023 and includes the redesigned Vantage, a new Vanquish, the production DBX crossover, two Lagonda-badged sedans, and a mid-engine Ferrari 488 rival.