Aston Martin’s chief executive ousted as part of management shake-up May 24, 2020 Aston Martin chief executive Andy Palmer is reportedly set to be ousted from the role as part of a management shake-up. The luxury carmaker confirmed it is reviewing its management team. It will name Mercedes-AMG chief executive Tobias Moers as Palmer’s replacement in an announcement tomorrow, the Financial Times reported. Palmer had not been informed [...]
New Aston Martin boss focused on restarting production April 20, 2020 Aston Martin’s new chairman Lawrence Stroll has said that his priority is to restart the firm’s manufacturing operations as he takes over the company in the midst of the coronavirus crisis. The Canadian billionaire, who agreed in January to take a 20 per cent stake in the luxury car maker, said he was taking charge [...]
Aston Martin furloughs workers as production suspended March 30, 2020 UK sports car-maker Aston Martin said today it would furlough some of its workers after the coronavirus crisis forced it to close factories. Under the government scheme employers can claim for 80 per cent of wage costs of up to £2,500 for staff they place on leave. The company suspended production at its Gaydon and [...]
Aston Martin finance chief quits as firm falls to £100m loss February 27, 2020 Aston Martin fell to a loss of over £100m today as the luxury carmaker announced it would use 2020 to “reset” the business in order to compete in the supercar market. The firm said that the release of the new DBX and Valkyrie models, which are scheduled for the summer, would be critical to fulfilling [...]
Aston Martin shares leap as Lawrence Stroll leads rescue deal January 31, 2020 Shares in Aston Martin rose 20 per cent today as it was announced that Canadian billionaire Lawrence Stroll would take a 20 per cent stake in the ailing carmaker. Stroll’s stake, which will be worth £182m, is part of a £500m funding raise which will include a rights issue from major shareholders. Since floating in [...]
Lotus owner Geely considers taking stake in Aston Martin January 10, 2020 Lotus and Volvo owner Geely is considering pumping some much-needed cash into Aston Martin. The Chinese firm is assessing whether to take a stake of the UK luxury carmaker, which is in need of fresh finances, according to the Financial Times. One source told the FT it may involved a technology partnership rather than full [...]
Aston Martin shares jump as billionaire Lawrence Stroll ‘prepares to make offer’ December 5, 2019 Aston Martin shares have been given a much-needed boost this morning, after reports surfaced that billionaire Lawrence Stroll is gearing up to buy a major stake in the struggling car maker. Stroll, the father of Formula 1 driver Lance and owner of the Racing Point F1 team, is said to be seeking to head a [...]
Aston Martin reveals move into SUV market with critical DBX model November 20, 2019 Aston Martin has lifted the bonnet on its long-awaited DBX sports utility vehicle (SUV), as the luxury car maker fights to get back on track after a massive devaluation in its market value after its 2018 stock market float. The car, valued at £158,000 at list prices, is the company’s first foray into the SUV [...]
Aston Martin shares climb as HSBC says investors should buy its stock November 11, 2019 Aston Martin’s share price climbed today after HSBC advised investors to buy the troubled luxury car maker’s stock despite its latest loss. The manufacturers of James Bond’s favourite ride swung to a £13.5m loss in its latest quarter as Brexit fears dampened demand in the UK and EMEA. Read more: Aston Martin is hoping next [...]
Aston Martin is hoping next year’s James Bond movie will boost sales November 7, 2019 The chief executive of ailing luxury car manufacturer Aston Martin hopes next year’s James Bond movie will give the firm a financial boost. Shortly after announcing the company had fallen to a £13.5m loss in the third quarter of the year, Andy Palmer said the series usually gives Aston Martin a lift in China, a [...]