Aston Martin bets on its sport utility vehicle
The new model could contribute to a boost to the company’s output
Stocks impacted: Aston Martin (AML)
The luxury car maker has launched its first ever sport utility vehicle which, according to the company, "signals a new era" for it. The new model will be powered by a four-litre, twin-turbocharged V8 engine. The recommended retail price for the car in the UK has been set at £158,000. The first deliveries are scheduled to start in the second quarter of 2020. Aston Martin hopes that the new model will contribute to a boost to its output, alongside sports cars made at its facility in English Gaydon. As a reminder, the company’s shares have plunged substantially this year, and since last October, the stock lost over 75%. The new sport utility vehicle could help the company to improve its performance including sales in the coming years. On Wednesday, the company’s stock is trading nearly 1% lower.
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