Aston Martin says it hopes to use the money raised to achieve targets of 10,000 wholesale sales, £2bn revenue and £500m adjusted EBITDA by 2024/25. Its wholesale volumes for the first half of 2022 were 2,676 vehicles, down from 2,901 last year. He indicated that he expects to reach more than 6,600 wholesale units this year.
“Since I became executive chairman in 2020, we have made significant progress on our journey to become the most desirable, ultra-luxury British brand in the world,” said Stroll.
“We started by correcting the company’s fundamentals, successfully de-stocking the dealer network to rebalance supply and demand, optimizing inventory levels in line with an ultra-luxury business and now benefiting from the strongest order book , which we have seen for many years We have also signed a strategic collaboration agreement with Mercedes-Benz and developed a breathtaking range of products starting with the DBX707 and V12 Vantage, all of which are in line with our 40%+ contribution margin targets – a significant increase from the past.
“Aston Martin’s return to the pinnacle of motorsport with the Aston Martin Aramco Cognizant Formula One team has also ushered in a new era for our iconic British brand. Our focus on building brand equity and unlocking Aston Martin’s potential is already delivering growing demand from a new generation of customers, with more than 60% new to the brand in 2021.”
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