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Aston Martin Share Price Gains 7% As June’s Sales Jump 11%

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Updated: 29 July 2020

Shares of Aston Martin Lagonda Global Holdings PLC (LON: AML) rose 7% on Wednesday after the James Bond’s carmaker said it witnessed an uptick in demand in June. 

Other than, Aston Martin’s first-half report was quite bleak. The luxury carmaker reported a first-half loss of £227 million as sales tumbled 41% amid the pandemic. Aston Martin lost £80 million in the same period last year. 

A major restructuring process has been initiated in the company after a consortium led by Canadian billionaire Lawrence Stroll took over. Aston Martin replaced its CEO and installed a new finance boss.

“It has been a challenging period with our dealers and factories closed due to COVID-19, in addition to aligning our sales with inventory with the associated impact on financial performance as we reposition for future success,” said Stroll.

The UK-based carmaker said its retail sales jumped 11% in June on a year-to-year basis.

“From next year, we will have the great benefit of a highly competitive Aston Martin branded Formula One team giving us a significant global marketing platform to further strengthen our brand”.

Aston Martin share price gained 7% as sales start to recover July 2020

Aston Martin share price soared 7% today on reports that the demand is recovering. Shares fell over 90% since the IPO in 2018.