Aston Martin raises boatload of cash to fund SUV

Aston Martin Lagonda raised $150 million through a bond sale to help fund its DBX sport utility vehicle, which the luxury automaker hopes will provide a big boost to business.

The British automaker, which has been featured in several James Bond films, has struggled as the U.K.'s pending exit from the European Union has brought uncertainty to the U.K.'s economy.

“At the H1 results we highlighted that we expected macroeconomic headwinds and uncertainty to continue,” CFO Mark Wilson said in a prepared statment.

In July, the automaker slashed its annual wholesale vehicle forecast to a range between 6,300 and 6,500, down from 7,100 to 7,300, and said it expects “softness” to continue for the remainder of the year.


Aston Martin is the latest luxury automaker to unveil plans for an SUV. Last September, Ferrari said its Purosangue SUV would hit the market in 2022. Bentley, Lamborghini, Maserati, Porsche and Rolls Royce have recently launched SUVs.