Aston Martin could be severely affected by coronavirus

Aston Martin could be severely affected by coronavirus

April 5, 2020 0 By autotimesnews

Despite the rather large investments that the British brand has received in recent months, now its financial situation is in a rather precarious position. The blame was the coronavirus pandemic.

Not so long ago, the British company Aston Martin was strongly bailed out by Canadian billionaire Lawrence Stroll. But even so, the automaker is now in a rather precarious financial position.

This is due to the fact that, despite an increase in the company’s capital by 536 million pounds, according to the rules of the European Securities and Markets Agency, it may still not have enough working capital due to “increased and not measurable uncertainty caused by the coronavirus pandemic.

 Aston Martin said that the problems that arose as a result of the ongoing crisis did not allow us to determine “the development of events within the near future is possible.” In recent months, shares of the British automaker have fallen by 9.3 percent.

 The recent “infusion” of money should have been enough to help Aston Martin cope with financial problems, but the financial crisis with coronaviruses put an end to this hope.

 “Taking into account capital gains, the company believes that the group does not have sufficient working capital to fulfill its requirements within 12 months,” Aston Martin said earlier.

 As part of his investment, Mr. Stroll will take over, as the executive chairman of the automaker said the investment “provides the necessary stability to reload the business in the long run. We have a clear plan for this to happen. ”

 The investment will also help in the production of the new DBX crossover, the car Aston Martin has high expectations for. Deliveries of the machine were supposed to begin this summer, but due to the coronavirus, the dates may be postponed.