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Aston Martin Took Less of a Hit in 2013, Posts $41 Million Loss

Motor Trend logo Motor Trend 10/9/2014 Karla Sanchez

Though Aston Martin sales increased in 2013, it still posted a huge loss. However, things appear to be looking up, as the company's pre-tax losses fell by a third compared to 2012.

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Posting a pre-tax loss of 25.4 million pounds ($41 million) for 2013, Aston Martin's losses are down a third from the year prior, thanks to revenue that's up 12.6 percent to 519 million pounds (roughly $837 million), reports Reuters. Increased sales of Aston Martin's high-end cars have helped in this matter, but still, Aston isn't out of the woods just yet, and it's uncertain when it will be. Aston Martin Lagonda© Provided by MotorTrend Aston Martin Lagonda

Still, any progress is good progress. The British automaker sold 4200 cars last year, which sounds much better than the 3800 it sold in 2012. Former Nissan boss Andy Palmer, who was appointed Aston Martin CEO back in September, will continue trying to leading the company back on track during a time when the automaker plans on significantly revamping its lineup. Already in play is a technical partnership with Mercedes-AMG, which will supply Aston with twin-turbo V-8 engines, as well as electrical systems. A new DB9 is rumored to debut in 2016, and there’s also talk of a new SUV based on the Mercedes-Benz GL-Class chassis. Andy Palmer Aston Martin Gaydon Headquarters© Provided by MotorTrend Andy Palmer Aston Martin Gaydon Headquarters

It won't be an easy ride, though, considering the company lost 1.5 million pounds after it was forced to recall 17,590 cars after a Chinese supplier was caught using counterfeit plastic material in the pedals. The compact luxury Cygnet also bombed in European markets, and in the U.S., the automaker is trying to get some of its vehicles exempted from new side-impact safety rules because it would be a major blow to its economic status.

Source: Reuters

Aston Martin Lagonda© Provided by MotorTrend Aston Martin Lagonda
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