Aston Martin unveiled a new supercar for wealthy collectors on Friday. Even as the carmaker faces financial difficulties, it is expanding its range of ultra-luxury models in an effort to cut losses.
The British company has unveiled the Valen, its most powerful front-engined sports car to date. The car was unveiled at the Monterey Car Week in California on Friday. Equipped with a 5.2-liter twin-turbo V12 engine, the new model can go from 0 to 60 mph in 3 seconds and reach a top speed of 202 mph.
Only 150 of these cars will be built and they will cost around $2 million, according to a company spokesperson.
Increasing sales of high-end models could help Aston Martin boost its revenue as it grapples with losses and mounting debt.
Last month, the automaker secured a €643 million financing. The deal has sparked backlash from some existing bondholders, who are threatening legal action because they say they have been left out.
According to Bloomberg, the company has struggled to push forward with its recovery plan since it emerged from bankruptcy in 2020. Delays in the launch of new models and quality issues have been exacerbated by a slowdown in the Chinese market and US tariffs, making it difficult for Aston Martin to return to profitability.
In the second quarter, sales of Aston Martin's top-of-the-line, ultra-luxury models, which the company calls "specials," rose to 122 cars from just four a year earlier, thanks to models like the $1 million "Valhalla." That helped boost revenue by 62% to 418 million euros. However, the company posted a pre-tax loss of 104 million euros.
“Valhalla”, Aston Martin’s first plug-in hybrid supercar, began production 4 years late. At the end of June, the company’s net debt was 1.8 billion euros. ©LAPSI.al
