Aston Martin’s shares have dropped by over 20% following news of slumping sales across Europe, Auto Express reports. In the UK, sales plunged by 22% during the second quarter of 2019, while markets such as Europe, the Middle East, and Africa have seen a slump of 28%. This means the brand’s overall sales figure for the 2019 financial year is expected to be between 6,300 and 6,500 vehicles.
Company president Dr Andy Palmer said: “We are disappointed that sales have fallen short of our original expectations, but we are committed to maintaining quality of sales and protecting our brand position first and foremost. We are today taking decisive action to manage inventory and the Aston Martin Lagonda brands for the long-term.”
While it may seem gloomy for the brand in UK and Europe, Aston Martin sales are rising in the North American market (up a staggering 83%), as well as throughout the Asia Pacific region (up 17%).
Sales is also expected to increase with the imminent arrival of the DBX , the brand’s first ever SUV. The DBX is currently entering the production stage ahead of its launch at the end of the year, and it’s expected to be the company’s most popular model as well. Its rivals include the Bentley Bentayga and Lamborghini Urus .
GALLERY: Aston Martin DBX production at St Athan