If the DBX succeeds, it could give Aston Martin the financial cushion it needs to keep making the grand tourers and sports cars. Aston Martin lost US$83.6 million in 2018 and US$144.4 million in 2019, according to FactSet. Aston Martin tried to cut costs by shrinking its workforce but its stock has tumbled. As of October22, Aston Martin Lagonda shares were trading at 49 US cents a share, down considerably from its nearly US$25 IPO float price in October 2018. The Aston Martin DBX is a bid to keep up with a changing automotive market and, hopefully, reverse the company’s punishing losses.

Source: The Standard October 26, 2020 04:49 UTC