Source - SMW
Luxury carmaker Aston Martin downgraded its outlook for the full year as challenging trading conditions continued through the peak delivery period of December weighing on sales.     

For 2019, the company said it now expected adjusted earnings (EBITDA) to be in a range of £130m to £140m with an associated margin of 12.5% to 13.5%.   
 
The carmaker luxury carmaker highlighted a number of headwinds that hurt performance including weaker core model mix, which weighed on average selling price, lower-than-expected wholesale volumes and increased marketing costs.   
 
Core wholesales declined 7% year-on-year to 5,809, while core retail sales increased by 12% year-on-year and exceeded wholesale volumes, leading to reduced dealer inventory and reversing the trend of the prior year, the company said.   
 
DBX order book advanced to c.1,800 since it opened on 20 November 2019, of which about 1,200 of were customer-specified, the company said.  
 
'As a result, we have now exceeded the various conditions to be able to draw the additional $100m of April 2022 notes and currently anticipate drawing these down within the next four weeks,' Aston Martin said.  
 
'We also remain in discussions with potential strategic investors which may or may not involve an equity investment into the company,' it added.












 
   



At 8:04am: (LON:AML) Aston Martin Lagonda  share price was -34.9p at 485.9p




 
At 8:09am: (LON:AML) Aston Martin Lagonda  share price was -50.85p at 469.95p



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