Following the release of half year results this morning (24 July), the ( ) share price has popped 11% higher in early trading. Unfortunately, the stock’s still down 52% over the past year. But events like this can prove to be the catalyst for higher.

Here’s my take on where we go from here. The results lowdown Let’s first run over why the price spiked following the results. On the face of it, it might not seem justified.

The business saw revenue fall by 11% in H1 2024 versus the same period a year back. This ultimately filtered down to a loss before tax of £216.7m, higher than the £142.

2m loss from H1 2023. On the flipside, the numbers were actually better than analysts had been forecasting. So although it might seem a little odd, the fact that the loss wasn’t as large as expected has been taken as a positive sign for the share price.

Fewer cars at a higher price One of the big themes I’ve noticed with Aston Martin over the past year is the push to increase the average sales price (ASP) of the models. For example, in H1, the ASP was £274k, up 29% from the H1 2023 figure of £212k. Yet revenue was down 11%, as I’ve already mentioned.

So while the business is selling cars for a higher price (which looks good) it’s ultimately selling fewer of them. Higher prices are good for margins. But if it sold the same volume, then revenue would be up 29%, given the price increase.

This does worry me, as Aston Martin can’t dig itself out of the hole simply by putting up t.