The British company took out a loan of £100 million to complete its production plan. This money is due to be repaid or at least refinanced in 2018 so time is an issue here. However, this amount, equal to almost $165 million, will finally help Aston Martin to bring to life the idea of its first crossover Lagonda if the company acts quickly.
Aston Martin has been experiencing financial difficulties for several years already. According to recent reports, the Daimler auto group could move in on the shares of the British company thus giving a helping hand, but right now the Germans hold just 5% of shares in their portfolio. It is still unclear whether the loan would help the company preserve its independence. The major fact is that they can now focus on the most important matter — car manufacturing.
In 2011 Aston Martin revealed the concept of Lagonda SUV. But due to certain reasons its production was postponed. Aston Martin CEO Dr Ulrich Bez said in one of his interviews that the company did not drop this idea, all they needed was to find a partner and money. As we know now, the partner has been found — Mercedes-Benz. And now the money has also hit the account.
It’s simple truth — if you want to buy something, you need to sell something. All they need to do now is to produce the luxury SUV and settle with creditors without losing the company’s independence. And turn a fair profit.
