Aston Martin’s sales to dealerships in 2021 jumped 82% despite the British luxury carmaker’s forecast annual core profit that was weaker than analysts’ expectations due to delays in shipments of the limited-edition Valkyrie sports car, Aston Martin revealed that only 10 Valkyries were shipped in the fourth quarter, failing to achieve what it had previously planned.
The company, which built the supercar for fictional agent James Bond, expects annual profit from its core business to be close to 15 million pounds ($20 million), below analysts’ expectations, but it stated that the Valkyrie cars that have not yet been shipped have been allocated to customers with huge financial deposits.
In all, Aston Martin sold 6,182 cars last year, helped by demand for its first DBX SUV, and the company’s stock is up 1.3% in early trading.
Travel restrictions due to the pandemic have left many wealthy consumers with more disposable income, fueling demand for premium and luxury cars, and British luxury car company Bentley announced another record year with sales growth of 31%.
Since it was put on the stock market in 2018, Aston Martin’s shares have plummeted by 30% and the company has begun to drain its cash, prompting billionaire Chairman Lawrence Stroll to buy a stake in the company as part of his fundraising plans, and Aston Martin stated that its financial budget at the end of 2021 was around £420m, a value higher than it had expected.