Aston Martin wants to raise funds to expand its range of models

Article by Christian A., on December 13, 2014

Aston Martin is getting ready to raise funds –by issuing either new shares or bonds – to expand its offerings to include SUVs, luxury sedans and hybrid models, two sources privy with the matter told Reuters. They said Aston is also working on plans to extend its current recovery strategy by three years to 2020. No thanks to an aging model range and weak investment, Aston failed to capitalize on a huge surge in the luxury car market in the last five years.

The carmaker only delivered 4,200 cars in 2013, which is not even close to its pre-financial crisis peak of 7,300 units in 2007. The sources also remarked that Aston Martin is reviewing debt- or equity-raising options to get enough funds to finance a bigger plan.

The carmaker expects to gain more cash by more efficient management of working capital like vehicle and parts inventory. One of the sources remarked that any cash-raising activity would allow Aston to gain GBP100-GBP150 million ($156-$234 million), with any new shares offered to current investors.

Aston has already commenced updating its existing models under a GBP500-million investment strategy.

The same strategy calls for a replacement for the DB9 in late 2016 and a return to profitability in 2017. Aston Martin chief executive Andy Palmer recently unveiled a DB10 concept car that will star in the next Bond film, "Spectre." The DB10 is expected to provides a glimpse of the styling direction for future production models.

Topics: aston martin

If you liked the article, share on:

Pin It

Comments

Recommended

To the proud owners and owner-to-be of the Porsche 991 Carrera GTS, there's good news for you all. German automobile manufacturer Porsche recently confirmed to the public that the Porsche...
by - March 23, 2017
McLaren diehards, this is the moment that you're all waiting for. The British automaker recently publicized the teaser outline of its new automobile that will hit the streets soon, dubbed...
by - March 23, 2017
PSA seems very confident about conquering the world. The purchase of Opel/Vauxhall for €2.2 billion ($2.3B) from General Motors makes PSA the second largest car company, just behind the Volkswagen...
by - March 23, 2017
Reporting for duty. It’s been a year since the Victoria Police was loaned a new Mercedes-AMG GLE 63 S Coupe. In those 12 months, the coupe served as the law...
by - March 23, 2017
After making its debut at the Paris Motor Show last year as a concept car, the Trezor by Renault managed to bring home the 2016 Concept Car Design Of The...
by - March 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries