LONDON (Reuters) -Aston Martin narrowed its annual loss in 2021 as sales surged and the company said on Wednesday it expected further improvements this year as it launches new, more profitable models and plans to raise prices across its model lineup.
The British carmaker said it expects to see sales rise again in 2022 despite ongoing global supply chain disruptions that have accompanied the coronavirus pandemic.
The company said last month that its core earnings for 2021 were affected by delays in shipments of its limited-edition Valkyrie sports car. It said on Wednesday that it expects to ship between 75 and 90 Valkyries in 2022.
The carmaker said that it plans to launch its first fully-electric vehicle in 2025 and that as of 2026 all new car lines will have an electric option.
Fictional secret agent James Bond’s car brand of choice has had a tough time since floating in 2018, failing to meet expectations and burning through cash, prompting it to bring in fresh investment from billionaire Lawrence Stroll in 2020.
Aston Martin said that it has started incorporating technology from shareholder Mercedes-Benz, which increased its stake in the struggling carmaker in 2020, but added there are “currently no plans to issue additional shares” to the German carmaker until early 2023.
Aston Martin reported an operating loss of 76.5 million pounds ($104 million) for 2021, versus 323 million pounds the previous year, as sales jumped 82% to nearly 6,200 units.
($1 = 0.7359 pounds)
(Reporting by Nick Carey; editing by Jason Neely and Emelia Sithole-Matarise)
