At the beginning of the year, the British luxury carmaker Aston Martin Lagonda reported a significant decrease in sales and profit due to the phase-out of the previous version of its Vantage model. In the first quarter, the number of delivered vehicles dropped by more than a quarter to 945 vehicles. Revenue fell by ten percent to 267.7 million British pounds, while the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped by more than a third to just under 19.9 million pounds. The company announced this on Wednesday in Gaydon.

The first quarter results reflect the end of production and delivery of Aston Martin's core models, explained CEO Lawrence Stroll. Despite the challenging phase, the management is sticking to the annual targets, which foresee an adjusted operating margin in the low 20-percent range. In the first quarter, this margin was 7.4 percent.

New versions of the Vantage as well as the SUV DBX707, which were not available for sale in the first three months, are expected to contribute to improved business results in the second half of the year. Aston Martin anticipates that the results of the second quarter will be similar to those at the beginning of the year, but show a significant improvement in the second half of the year.

The reaction on the stock exchange to this news was initially negative: The share opened with a loss of 14 percent on the London Stock Exchange but managed to contain the losses over the course of the day and closed with a loss of 6.75 percent at 1.38 pounds. Analyst Philippe Houchois from Jefferies described the first quarter as a "painful" transition but remains optimistic that Aston Martin will perform better in the second half of the year, supported by the confirmed annual targets.

Mercedes-Benz, holding about a nine percent stake in Aston Martin, closely follows the development of its partner as Aston Martin prepares for improved performance in the remainder of the year.