Autos & Transportation

Aston Martin's first SUV helps push up sales by more than 200%

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Aston Martin DBX, the company's first sport utility vehicle, is displayed at its global launch ceremony in Beijing, China November 20, 2019. REUTERS/Jason Lee

LONDON, July 28 (Reuters) - Carmaker Aston Martin (AML.L) reported on Wednesday a 224% increase in sales to its dealers, boosted by its first sport utility vehicle, the DBX, as losses fell in the first half of the year.

The DBX 4x4, which first rolled off the production line just over a year ago, accounted for more than half of its 2,901 vehicles between January and June.

"Building on the success of DBX, our first SUV, we have since delivered two more new vehicles and with more exciting product launches to come we are well positioned for growth," said Executive Chairman Lawrence Stroll.

Fictional agent James Bond's car brand of choice has had a tough time since floating in 2018, as it failed to meet expectations and burnt through cash, prompting it to bring in fresh investment from billionaire Stroll last year.

The DBX entered production in July 2020 and has helped the company widen its appeal in a lucrative segment of the market which has proven profitable for its rivals.

Its pretax loss fell from 227 million pounds in the first half of 2020 to 91 million pounds ($126 million), with the company saying trading was in line with expectations as it aims for 2021 volumes of around 6,000 vehicles.

($1 = 0.7209 pounds)

Reporting by Costas Pitas, Editing by Paul Sandle

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