Luxury cars sales go full throttle: Business booms at Aston Martin and Porsche over first three months of the year
Demand for fast and expensive cars is booming, say two of the most famous manufacturers.
Aston Martin and Porsche reported surging sales over the first three months of the year.
A favourite of James Bond, British firm Aston Martin reported a 27 per cent rise in revenue to £295million while losses narrowed to £74.2million. All 499 of its DBS 770 Ultimate vehicles were sold.
Sold out: Aston Martin reported a 27% rise in revenue to £295m with all 499 of Aston Martin’s 211mph DBS 770 Ultimate vehicles having sold
Customers will have forked out £314,000 for a car that can reach a top speed of 211mph.
Executive chairman Lawrence Stroll said of its 110th anniversary this year: ‘2023 is set to be one of the most exciting years in Aston Martin’s history.’
In Germany, Porsche said sales and revenues rose by 25 per cent in the first quarter of 2023 compared to the same period 12 months ago.
Sales of £8.8billion and profits of £1.6billion were achieved despite ‘volatile’ global markets.
It split from parent company Volkswagen last September in the largest flotation in Europe for over a decade, with Porsche valued at £67billion.
Porsche delivered 80,767 vehicles to customers in the first quarter, 18 per cent higher than the same period last year and was boosted by the reopening of its largest market, China.
The Macan SUV was its most popular model, with 23,880 vehicles delivered. Over 11,000 of its 911 cars were sent to consumers.