The OEM's executive chairman, Canadian Billionaire and Formula One team boss Lawrence Stroll, described the move was part of a "fundamental reset" for the business back in early June. In May the carmaker reported a £119m loss in Q1 as revenues declined by 60% to £79m and vehicle sales fell by 45% to 578. New chief executive, the former Mercedes-AMG boss Tobias Moers, is set to become CEO join Aston Martin in August, taking the helm from departed CEO Andy Palmer. The Financial Times (FT) today reported that Aston had so far succeeded in cutting the vehicle inventory at its dealers by 869 cars, but the process of clearing out forecourts of unsold vehicles will last "well into 2021", the company said on Wednesday. As a result of the destocking, the group's flagship Gaydon plant, which makes its sports cars, will remain closed until late August, it said, making it one of the last auto plants in the UK to reopen following the shutdown in March.