Aston Martin Raising Funds For New Models: Report Photo:
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Trevor Collett | Dec, 21 2014 | 2 Comments

Aston Martin is reportedly looking to secure more funds to step-up its recovery effort, with a view to producing new models.

According to Reuters, two unnamed sources with internal knowledge of Aston matters reportedly said that the long-rumoured crossover SUV is among them.

But it may hinge on new boss Andy Palmer’s ability to turn the carmaker’s finances around, with Aston’s recovery strategy now extended by three years to 2020.

The carmaker plans to issue new shares and bonds in order to raise the necessary cash, which it hopes will fund the SUV along with luxury sedans and hybrid models in the future.

"It's an expansion from the current model range," a source said, wishing to remain anonymous.

2009 Aston Martin Lagonda Concept
2009 Aston Martin Lagonda Concept

Aston Martin is also examining its current debt and equity options, and hopes to trim some financial fat from its vehicle and parts operations.

The fundraising activities have a reported target of between £100-150 million (AU$192-288 million), with current investors the first to be offered new shares.

The report says Aston’s vehicle deliveries have fallen from a peak of 7300 in 2007 to 4200 last year.

One source said a target of 7500 sales annually was part of the recovery strategy, with a new target of 10,000 sales once the new models go on sale.

The sources added that a new financial strategy could be announced at next year’s Geneva Motor Show.

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