Automotive: Aston Martin loses $600 million in 2022

Hot on the heels of losing $90 million in 2021 and $390 million in 2020, Aston Martin crashed to a loss of $600 million in 2022.

CEO Lawrence Stroll said: “2022 saw Aston Martin continue to build on the strong foundations that have been established during my three years as Executive Chairman. While the last 12 months presented industry-wide challenges, we look to the future with renewed confidence in our ability to deliver on our vision, and the targets we have set.”

He added: “We have made the biggest investment in our iconic brand through the launch of a bold new creative strategy and brand position that aligns Aston Martin to our future ambitions.”

The costs of delivering its Valkyrie hypercars were one of the headwinds it faced. The Valkyrie was supposed to be the fastest car on the road, and at £2.5 million per vehicle, certainly one of the most expensive.

The luxury car maker insists demand for its products are high – sales rose 26% to £1.38 billion for the year to December.

And it insists it is on track to hit targets for next year and the year after.