Luxurious carmaker Aston Martin halves annual losses – Occasions of India

LONDON: Aston Martin Lagonda halved losses in 2023 as common promoting costs hit file highsthe British luxurious auto large introduced Wednesday.
Pre-tax losses totaled £240 million ($303 million) final yr, down from £495 million in 2022, the corporate mentioned in a outcomes assertion.
Income jumped 18 p.c to £1.6 billion, added the carmaker whose top-end automobiles are beloved by fictional British spy James Bond.
“In 2023, Aston Martin delivered…, pushed by continued sturdy demand for our ultra-luxury, high-performance merchandise,” mentioned chairman Lawrence Stroll.
“The wealthy mixture of gross sales, pushed by our ongoing dedication to product innovation, supported development in common promoting costs to file ranges.”
Aston Martin is pushing forward with the electrification of its vehicles, with an funding of about £2 billion within the subsequent few years.