May 07 2021, 3:21 AM
May 06 2021, 11:44 AM
May 07 2021, 3:21 AM
(Bloomberg) --
(Bloomberg) --
Aston Martin Lagonda Global Holdings Plc reported better-than-expected sales for the first quarter as the British luxury-car maker gets a significant boost from its first-ever SUV.
Revenue soared 153% to 244.4 million pounds ($340 million), beating analystsâ average estimate for 196.7 million pounds. The DBX sport utility vehicle accounted for 55% of the vehicles sold to dealers in the first three months of the year.
Aston Martin racked up significant losses after going public in 2018 and has spent the last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll. The 61-year-old fashion mogul has injected much-needed cash and forged closer ties with Daimler AGâs Mercedes-Benz to ensure the company survives tumultuous times for the auto industry.