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Bloomberg
Aston Martin’s bet on a new $215,000 luxury coupe is paying off as surging demand for the DB11 has the carmaker projecting a revenue bump of as much as 37% this year ahead of a potential initial public offering.
Orders for the DB11, which debuted a year ago at the Geneva motor show, paced a 48% jump to 1,668 total units sold in the fourth quarter, according to a company statement. The Gaydon, England-based sports car manufacturer said it expects 2017 revenues of 815 million pounds, up from 593.5 million pounds last year.
As a rare global luxury-car brand independent of a larger automotive group, Aston Martin has been trying to return to profitability by broadening its appeal with new models and pushing into branded merchandise including strollers and luggage. In 2016, full-year earnings exceeded 100 million pounds for the first time, the company said.
Aston Martin is aiming to bring a new car to market every 9 months until 2020 and have a new car plant
in St. Athan, Wales, fully operational by 2019 to manufacture first crossover vehicle, the DBX. The timing of a possible IPO will be up to shareholders, CFO Mark Wilson said in June.