Lawrence Stroll's Aston Martin Lagonda reported that in 2021 their losses were substantially less than the hefty knock of the previous year, pointing to the Formula 1 team as a boost to its image.
This Is Money reports that Aston Martin "saw losses shrink in 2021 as sales rebounded, with the carmaker expecting 2022 to be a 'year of growth' amid strong demand for its hypercars and SUVs.
"The British auto manufacturer reported a £77-million (€98-million) operating loss in 2021, compared to a loss of £323-million (€385-million) in 2020, with revenues rising 79 per cent to £1.1-billion (€1.3-billion).
"Sales to car dealers jumped 82 per cent to more than 6,170 vehicles despite supply chain disruption, as it was able to return to 'normal' operations following Covid restrictions the previous year.
The report added that Aston Martin saw strong demand for its £2.5-million (€3-million) supercar Valkyrie Spider which began delivery in December, and stated "its strategic shift to demand-led, ultra-luxury models meant retail sales were 'well ahead' of sales to car dealers."
Return to F1 Grand Prix racing helped increase Aston Martin brand exposure, perception and desirability
"The average selling price of its cars rose to £150,000 in 2021, from £136,000 in 2020 and is expected to rise further this year as a result of new vehicles including its DBX707 SUV and V12 Vantage car.
'The carmaker also said its return to Formula 1 helped increase its 'brand exposure, perception and desirability,' concluded the report.
Aston Martin chief executive Tobia Moers said: 'With a full calendar year of Aston Martin Valkyrie deliveries to come, along with the impact from our successful marketing of DBX Straight-Six and DBX707, 2022 promises to be a year of growth.
'While there will be challenges, our business has never been better prepared to meet them," added Moers, who hopes to sell around 10,000 cars a year by 2024-25, with revenues expected to hit £2-billion (€2.4-billion) by then.
In today's early trading, Aston Martin shares rose 2.6 per cent to 880.60p but still remain nearly 40 percent lower since the start of the year, but 90 percent down since they were floated on the market in 2018.\
Aston Martin begin their second year in F1 since their return, with four-time F1 World Champion Sebastian Vettel and Lance Stroll spearheading the team's campaign this year.
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