Aston Martin Isn't a Patch on Ferrari
The focus on the DBX SUV is understandable, but it shouldn’t distract from the lamentable performance of the carmaker’s core business.
Luxury trimmings, but what’s under the hood?
Photographer: RVT3Barely a year has passed since Aston Martin Lagonda Global Holdings Plc listed shares in London and persuaded investors it deserved a premium valuation similar to that of Ferrari NV. The luxury carmaker’s preliminary yearly results, published on Tuesday, were a reminder that its management badly misjudged both the strength of the brand and the resilience of its balance sheet.
In reality Aston Martin isn’t a patch on Ferrari and instead faces an uphill battle just to keep the lights on. A year ago the U.K. company told investors that its dealers would probably purchase about 7,200 vehicles in 2019. In fact, wholesale volumes fell 7% to a dismal 5,800 (or about 5,900 if special models are included).