Aston Martin posts deep loss as coronavirus outbreak hits sales

LONDON (Reuters) – Aston Martin posted a first-quarter pretax loss of 119 million pound ($146 million) after sales dropped by nearly a third due to the impact of the coronavirus outbreak and the destocking of dealers, the carmaker said on Wednesday.

“COVID-19 and the resulting global economic shutdown has had a material impact on our performance this quarter,” said Chief Executive Andy Palmer.

Core retail sales slumped 31% year-on-year, the company said.

(Reporting by Costas Pitas; editing by James Davey)