Aston Martin saw SUV deliveries plunge by more than 1,000 in the period to just over 500, which it attributed to the introduction of its newer DBX707 model. The company has also been winding down production of its older Vantage sports car model.
Aston Martin is in the middle of a turnaround led by Executive Chairman Lawrence Stroll. The Canadian billionaire has been forced to tap investors for funds repeatedly since rescuing the company in 2020, bringing in new shareholders such as Saudi Arabia's Public Investment Fund.
Former Bentley Motors Ltd. boss Adrian Hallmark is joining as chief executive officer as of Sept. 1, earlier than initially planned, the company announced Wednesday. Hallmark is taking over from 77-year-old Amedeo Felisa to become the fourth CEO since Stroll arrived and is tasked with helping to revive the share price, which has fallen by a third this year.
Revenue slumped 11% to £603 million, but was a slightly better performance than analysts expected, thanks to the average selling price of its cars rising 29% to £274,000. Deliveries fell by the most in the Americas region, which saw a 40% drop.
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