Attempts to reach its goal of making 14,000 cars a year by 2023 have left Aston Martin with a debt of £900m
owners dare push their sports cars to the edge of losing grip in a fast corner. The same cannot be said of shareholders in Aston Martin Lagonda , which owns the prestige brand. An ill-judged initial public offering in 2018, predicated on rapid growth, has the company careening.was an attempt to emulate the success of Ferrari, which floated in 2015. The Italian supercar-maker enjoys 25% operating margins, closer to whatmakes on its Louis Vuitton handbags than what Daimler gets for Mercedes cars.
Aston’s legacy of losing money is as rich as that of making fast and glamorous cars. In its 106 years James Bond’s wheels of choice have endured seven bankruptcies. This time investors bet onthanks to a credible leader—Andy Palmer, a shrewd industry executive—and a plausible plan to expand its range of vehicles. It has already launched three newcars, suited to long, comfy journeys. Next year it plans to unveil a mid-engined car, the Valhalla, to take on Ferrari, better-known for such machines.
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