Aston Martin Lagonda Global Holdings PLC (LSE:AML) said it expects to deliver more of its Valkyrie vehicles in 2022 as supply chain issues ease.
The company was only able to deliver 10 of the vehicles described as the “the first true F1 car on the road,” as global supply chain distruptions hit.
It also said that it was “following a quality-focused approach,” which caused deliveries to start at a slower pace than originally anticpated in the fourth quarter.
However, a statement said it hopes to ship somewhere between 75-90 Valkyrie vehicles in 2022 as it begins to “refine the production process” for the cars with a “focus on quality.”
The Valkyrie range includes three models, the Coupe, Spider and AMR Pro, all of which have over a 1000 break horse power.
The Coupe will be limited to 150 models, while the company will produce 85 of the Spider and 25 of the AMR Pro.
Prices will start at US$3mln, with the Coupe and Spider models road legal and the AMR Pro a track only model.
“While it was disappointing that some deliveries were rescheduled from late 2021, following an in-depth review and now under a dedicated team we are confident of continuing to deliver these truly extraordinary vehicles to our customers with no compromises,” said chief executive Lance Stroll.
The company also announced it is on course to achieve its medium terms targets, although investors have seemingly latched on to the increase in net debt to £891.6mln with £171mln financing costs stinging the car manufacturer, as shares retreated 4.92% to 1044p.
The luxury car manufacturer said it expects to achieve roughly 10,000 wholesales, £2bn revenue and £500mln adjusted underlying earnings (EBIDTA) by 2024/25.
In the short term, it plans for wholesales to grow by at least 500 vehicles to over 6,600 for 2022, with it hoping 75-90 of those will come from its new Valkyrie supercar range and the rest coming from its other models, including the DBX SUV, which achieved over 3,000 sales in its first year.
Aston Martin was able to narrow its losses to £213.8mln to £466mln as revenues surged 79% to £1.1bn, boosted by almost doubling the number of vehicles sold to 6,178 as operations returned to normal with the easing of COVID restrictions.