Aston Martin has just posted its 2014 financial results with them seeing debts almost tripled over 2013’s figures.

For 2014, the British automaker has posted a $110.9 million loss compared to the $39.4 million it posted in 2013. What’s more, sales for the company dropped significantly from 4200 in 2013 down to 3661 last year which according to Aston Martin chief executive Andy Palmer, comes primarily as a result of a drop in demand in China.

Last year, revenues of Aston Martin also dropped by 10 per cent and resultantly, the company is tipped to axe many jobs.

While Aston Martin is in a difficult position at the moment, Andy Palmer believes that it will become profitable in around 2017. That hope comes as part of the marque’s plan to create a seven-model range and ultimately hit 15,000 annual sales by 2020. Amongst the new models will be the DBX crossover and an all-electric Rapide.

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