Aston Martin losses shrink but launch of first electric model delayed

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Higher prices for luxury cars helped Aston Martin cut pre-tax losses last year, even as the manufacturer was hit by delays to its latest models and pushed back the launch of its first electric vehicle.

The British carmaker on Wednesday said the average price of its core cars rose from £177,000 in 2022 to £188,000 in 2023, helping revenues climb 18 per cent to £1.6bn.

“We feel more immediate consumer demand for a plug-in hybrid before we go to full [electric],” executive chair Lawrence Stroll told investors.

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