Shares fall more than 7
Co misses market expectations for Q3
Says production issues now resolved

Nov 1 Reuters British luxury carmaker Aston Martin posted a bigger than expected quarterly loss on Wednesday and lowered its 2023 volume outlook due to production issues for its new DB12 sports car.

Shares in the Gaydonbased company were down more than 7 in early trading.

Aston Martin started delivery of its first nextgeneration sports car, DB12, last quarter and expects 2023 volume to be 6,700 units, down from an earlier forecast of about 7,000 units.

Production was affected by supplier readiness and delays in integration of its new platform that supports the redeveloped infotainment system, it said.

These issues are now resolved, with demand staying strong and orders well into the second quarter of next year, it added.

The launch of the DB12, which has seen extraordinary demand, is driving a reappraisal of Aston Martin amongst new audiences, with 55 of initial DB12 customers new to the brand, Executive Chairman Lawrence Stroll said in a statement.

Aston Martin retained the rest of its 2023 outlook, saying demand remained strong as it plans to bolster cash and margins by rolling out nextgeneration sports cars and limited editions this year and next.

Other automakers over the last week had painted a much bleaker image, with MercedesBenz saying inflation and other factors had weighed on its earnings in recent months and Porsche AG warning the luxury sector was also…