LONDON: Aston Martin, James Bond’s favorite carmaker, revealed on Thursday that losses from the Corona virus nearly quadrupled in 2020.
The pre-tax loss widened to 6 466 million (65 9,659 million, 2 542 million) from 11 119.6 million in 2019, Austin Martin Lagonda said in a results statement.
The luxury group also invested about £ 100 million in scrapped projects, including its electric car projects.
Despite a fourth-quarter increase from its new DBX Sports utility vehicle, it sank 37% to 11 611 million on profits with closed dealerships through lockdown restrictions.
Despite this, a total of 4,150 cars benefited due to about one-third of retail sales.
“Uncertainty about the interval and impact of the epidemic on the global economy continues, and the pace of recovery from lockdown and consumer demand varies significantly across geographies,” the company warned.
Austin Martin’s fortunes have also been affected by the delay in the coronavirus due to James Bond’s spy blockbuster ‘No Time to Die’.
The film, which was originally slated for release in March 2020 and has been pushed back several times, is currently hitting theaters in October.
Bond films traditionally feature a variety of top-end Aston Martin cars that give the company a valuable boost in marketing.
The company launched the stock market in 2018 with a string of its luxury supercars parked outside the London Stock Exchange.
However, losses almost doubled in 2019, as the group fell sharply on China’s slowdown and weak global demand linked to Brexit.
Austin then took a cash injection from Canadian billionaire Lawrence Troll early last year.
As part of the deal, the Racing Point Formula One team – whose drivers include Lawrence Troll’s son Lance Stroller – has named Aston Martin for the 2021 season.