Luxury cars sales go full throttle: Business booms at Aston Martin and Porsche
Luxury car sales are booming: Business grows at Aston Martin and Porsche in the first three months of the year
The demand for fast and expensive cars is booming, say two of the best-known manufacturers.
Aston Martin and Porsche reported rising sales in the first three months of the year.
A favorite of James Bond, British company Aston Martin reported a 27 per cent increase in sales to £295m, while losses fell to £74.2m. All 499 of its DBS 770 Ultimate vehicles were sold.
Sold out: Aston Martin reported a 27% increase in sales to £295m, with all 499 Aston Martin’s 211mph DBS 770 Ultimate vehicles sold
Customers will have paid £314,000 for a car capable of a top speed of 340km/h.
Executive Chairman Lawrence Stroll said of his 110th birthday this year: ‘2023 will be one of the most exciting years in Aston Martin’s history.’
In Germany, Porsche said sales and revenues are up 25 percent in the first quarter of 2023 compared to the same period 12 months ago.
Revenues of £8.8bn and profits of £1.6bn were achieved despite ‘volatile’ world markets.
It spun off from parent company Volkswagen last September in the largest IPO in Europe for more than a decade, worth £67 billion to Porsche.
Porsche delivered 80,767 vehicles to customers in the first quarter, up 18 percent from the same period last year and boosted by the reopening of its largest market, China.
The Macan SUV was the most popular model, with 23,880 vehicles delivered. More than 11,000 of the 911 cars were sent to consumers.