Aston Martin sales surge, Valkyrie delays hit profit

Aston Martin sales to dealers surged 82% last year, boosted by its first SUV.

But the company was hit by delays for its premium Valkyrie sports car.

That's according to the British luxury automaker Friday (January 7).

Aston Martin said 10 Valkyries were shipped in the fourth quarter - fewer than planned.

It blamed supply chain challenges and a complex production ramp-up.

The carmaker - fictional agent James Bond's favourite - forecast annual core earnings of $20 million, lower than expected.

Even so, it sold 6,182 cars last year, helped by demand for the DBX sports utility vehicle.

And it isn't the only luxury carmaker to score big sales.

Travel restrictions have left wealthy consumers with more money saved up to spend - and many have turned to premium cars.

Britan's Bentley reported a record year Thursday as global sales jumped 31%.

Since going public in 2018 Aston Martin shares have fallen around 30%, and the company has burnt through money.

But the firm said its cash balance at the end of 2021 was higher than expected, at around $569 million.

Aston Martin shares rose around 3% in Friday morning trade.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting