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Comment: Shaken not stirred? Aston Martin slumps to £13m loss

University of Birmingham professor David Bailey says Aston Martin new SUV will be critical to its chances of future success following recent loss

Is Aston Martin pinning its hopes on the new DBX SUV?

James Bond's favourite carmaker Aston Martin Lagonda last week recorded a £13 million loss for the last quarter, pointing to tough trading conditions in the º£½ÇÊÓÆµ and Europe along with disappointing sales of its Vantage two-seater sports car.

Less than a year ago, Aston floated with shares priced at £19, valuing the company at some £4.3 billion. Things soon turned sour.

Since October last year, the firm's shares have nose-dived and now trade at around £4, valuing the firm at just over £900 million.

The firm's Second Century Strategy Plan (‘the plan') envisaged seven new models in seven years, starting with the DB11, followed by the Vantage, Vanquish and DBX, the latter being its first SUV.

The two-seater Vantage costs from £120,000 and was the second model in the pipeline.

So far, sales have been weaker than expected because the two-seater luxury sports car market is in decline. The firm's £13.5 million loss in the three months to 30 September compares with a profit of just over £3 million a year earlier.

Revenues fell 11 per cent to £250 million as wholesale volumes - cars sold to dealers - fell 16 per cent to around 500 cars. Retail sales were down six per cent.

Over the first nine months of 2019, Aston Martin has so far stacked up a loss of some £92 million compared with a profit of £24 million in the same period of 2018.