Aston Martin Lagonda's Chief Executive Officer Andy Palmer said the company's first sport utility vehicle, or SUV, arriving later this year will be crucial for the British luxury-car maker, which is trying to revive sales growth and rebuild investor trust.
The DBX is expected to add about 4,000 units to annual deliveries after its launch in late 2019, Palmer told reporters in Tokyo. The automaker cut its overall sales target for this year by 11 percent last month to a minimum of 6,300 cars.
The DBX will be the biggest step yet in Palmer's campaign to win over buyers and regain investor confidence in the Gaydon, England-based carmaker. Waning demand in the U.K. and Europe have left Aston Martin's stock valued at a quarter of its initial public offering price just 10 months ago — the worst-performing new listing on London's main market in more than two years.