The British brand Aston Martin struggles to keep up after news of them dropping in sales surfaced. Has the label that once flew the British flag high lost its place in the world of luxury?
On Wednesday it was announced, “Aston Martin’s shares have lost more than a fifth of their value, following a huge slump in sales across Europe”. After the second quarter of 2019, it said that in the UK alone (where the make is supposed to thrive) Aston Martin’s sales have dropped by 22 per cent.
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"Aston Martin sales in the UK have plunged by 22 per cent during the second quarter of 2019, while sales in the rest of Europe, the Middle East and Africa have seen a slump of 28 per cent. Overall, Aston Martin expects sales figures for the 2019 financial year to be between 6,300 and 6,500 vehicles."
The massive loss in sales has already dropped so bad, any more plunging and before the end of the year, we could see them surpass the halfway mark. It might not seem that much of a loss when you look at the difference in numbers between then and now.
Yet, when you look at the amount of income they are losing from a drop of 200 pieces, you can understand the heavy concern. However, where one arm is cut short another one grows in good condition.
"It means Aston Martin’s market value has more than halved to £1.8 billion. Despite the drop in sales for UK and Europe, Aston Martin sales are on the increase in the Americas and throughout the Asia-Pacific region, with the former climbing by 83 per cent and the latter by 17 per cent. (via: autoexpress.co.uk)"
The Elite is Hard to Please
Even rivals Ferrari have had to rethink their strategy and take a look at what they can do to change things up, and become the most relevant luxury car make again. The commercial and marketing chief, Enrico Galliera, came out and spoke of a new direction and the claim to act unpredictably in their new line of exotic rides coming out of the Italian garage.
A saving grace is needed
It’s quite the rough ride for Aston Martin at the moment, but the team believes they will get back on their horse soon with great expectations placed on the upcoming Aston Martin DBX SUV. They feel it could become the new flagship for the company and climb their way back up the luxury ladder.