Aston Martin posts £72m loss

Aston Martin, the Warwickshire high-end sports car manufacturer posted a pre-tax loss of  £72m in 2014 and £25m deficit the year before, as losses triple as sales declined but Andy Palmer CEO of the sports car maker insisted its attempt to revive its luxury brand still on track ” We are pursuing a strategy targeted at building a stable platform for growth and a sustainable future in luxury Automotive arena.”

They also announced  300 job losses a day before.

Sales of 3,500 cars last year,  down on the 4,200 sold the year before and less than half the 7, 300 in 2007, all partly due the decline of sales in China. Aston Martin was prevented from selling in the world biggest car market while authorities investigated a recall caused by defective accelerator pedals.

Despite all this, it has secured £200m of additional investment from shareholders, which include Kuwait’s Investment Dar and Investindustrial, to fund entire the next generation of  sports car and launch an ambitious 4×4 vehicle.