The carmaker’s effort to reduce dealer stockpiles on its other models has been frustrated by the Covid-19 crisis, and will now extend into 2021.
“We are restoring exclusivity to our sports cars,” Chairman Stroll said in a video posted on the company’s website. The company is “rebalancing supply to demand, which in the short term means lower wholesale volumes but necessary for future success.”
Its cash balance was 359 million pounds at the end of June, with 430 million pounds of liquidity available.
Tobias Moers, the former head of Daimler AG’s Mercedes-AMG performance division, will replace Andy Palmer as chief executive officer on Aug. 1. Moers, 54, will count on the DBX to boost sales in markets including China, where wealthy consumers’ preference to be driven by chauffeurs in roomier rides has helped high-priced SUVs catch on.
This article was provided by Bloomberg News.