British luxury car manufacturer Aston Martin (Aston Martin) reported a higher-than-expected first-quarter pre-tax loss on Wednesday as the number of cars produced by the company fell short of expectations while financial costs soared.
The company's first-quarter adjusted pre-tax loss was £111 million, exceeding analysts' average expected loss of £93 million.
The company sold 945 cars in the first quarter, falling short of analysts' average forecast of 1,024 units.
Aston Martin Chairman Lawrence Stroll said in a statement: “Our first-quarter results reflect this anticipated transition period as we stopped production and delivery of core models that were about to be discontinued until production of the new Vantage, the upgraded DBX707, and the upcoming V12 flagship sports car increased.”