Aston Martin’s financial crisis days are not over yet!
Aston Martin would have been looking to recover this year, but the current COVID-19 pandemic has made it extremely difficult.
The British sports car company Aston Martin has suffered financially for the last few years, and things were just not looking up for them. However, the release of the DBX this year is what Aston Martin is banking on, because if it does well, it could literally save the company from plunging into a financial downfall.
Unfortunately, something which Aston Martin, or any motor company could not look out for took place and that’s Covid-19, a pandemic which has spread its wrath across the world. Auto industries have stopped production worldwide, and they are incurring heavy expenditures to keep their companies afloat. The question that is needed to be asked is, could a company like Aston Martin be able to survive a pandemic when it was already deep in losses ?
Just like a superhero who makes an entrance into a movie and saves all the innocent people, Lawerence Stroll a Canadian billionaire and part owner of Racing Point F1 Team had swooped into the lives of Aston Martin and nearly rescued them. Lawerence Stroll has invested £262 million in Aston Martin, and this investment should give some breathing space to Aston Martin.
Furthermore, Aston Martin’s shareholders have announced that Stroll will be the company’s new Executive Chairman. This generous investment will allow Aston Martin to begin the production of the DBX suv, however, this would only be possible once the supply chain begins, which has been temporarily suspended due to Covid 19.
Aston Martin would be praying for the Covid 19 ordeal to end as soon as possible, because the DBX, and its sales will decide the fate of the company. Furthermore, for the DBX to do well, Aston Martin requires the production to begin, fortunately, Aston Martin says that they are in a position to deliver the DBX to the customers who had booked it before, by June or July.
Interestingly, Stroll did not just happen to an investor who wanted to rescue Aston Martin out of goodwill, Stroll is a man with a plan, and his plan with Aston Martin is to introduce it in the world of F1 by 2021, and this will be the first time Aston Martin will be part of F1 since the 1950s. Stroll’s son is Lance Stroll, who is a racing driver in F1 with racing point and I am sure he would have some future prospects of driving for Aston Martin.
Even with Stroll’s investment, Aston Martin requires the DBX to be a success, because if it does not, Aston Martin stands the risk of going under. At least with Lawerence Stroll’s inclusion and investment, Aston Martin has a chance of producing the DBX, and taking their chance at success. When the DBX will be launched, it will take on the Bentley Bentayga, Lamborghini Urus, Porsche Macan and Rolls Royce Cullinan.
