All is not well in Gaydon, as Aston Martin has reported a 24.6-million pound ($39.3M USD) pre-tax loss, an increase from the previous year's 21.2-million pound – $33.9-million – loss. That, friends, is not good.
Citing a nine-percent drop in sales for its range of sportscars (and a now discontinued city car) and a nearly 50-percent drop since its 2007 peak, AM only managed to bring in 461.2-million pounds ($736.6 million), according to The Telegraph. The official statement from Aston Martin blames a "market segment [which] has been severely affected by recession," with a particular drop in European sales.
Things might not be as bad as they seem, though. Part of the loss is being blamed on the launches of the new DB9, Vanquish and Rapide S, which are mostly one-time expenses. And even though it's going to take a while for the deal to take effect, it has a new technical partnership with AMG which could blossom into a more all-encompassing arrangement if things go well. Aston also has had additional cash since Investindustrial agreed to infuse a bunch of money into its depleted coffers. Of course, it's also fair to mention that Aston has spent the better part of its 100-year history in one spot of financial trouble or another, so we've become somewhat immune to the company's continued reports of economic hardship – hopefully this news is just another bump in the road.