Aston Martin is known for their luxurious and fast cars, such as the Vantage model which reaches a top speed of 195mph and can go from 0-60 in 3.6 seconds.
With both speed and beautiful designs, Aston Martin produces high end sport cars with an average price of $150,000.
Some models, such as the 2019 DBS Superleggera, go for upwards of $300,000.
Although these luxurious sport cars are wanted by many, not as many people purchase Aston Martin’s cars.
In July 2019, Aston Martin’s stock was $12.80 and on February 4, 2020, theirstock was valued at $6.15.
The reason for this sharp decline is due to Aston Martin having to cuttheir production forecast for 2019 by 10% because dealers had too many cars in their showrooms.
Although Aston Martin fell on the line of shutting down its production for good. Luckily for them, Canadian billionaire Lawrence Stroll, and other investors rescued Aston Martin with $650 million.
This investment will potentially help Aston Martin stay afloat for another few years.
With Strolls involvement, the company hopes to start production of the SUV models to help increase overall sales.
With an SUV model, there will be a larger audience for consumers whomay not want the Vantage Model mentioned above.
Aston has reportedly received around 1,800 orders for the SUV model which retails for $75,600, and the company hopes to start producing these models by the end of the second quarter.