Aston Martin owner Stroll to invest £200m in new HQ for F1 team September 14, 2021 Aston Martin owner Lawrence Stroll will put up to £200m into a new manufacturing headquarters for the marque’s Formula 1 team. In an interview with the FT, the Canadian billionaire said he was aiming to increase the team’s valuation to £1bn over the next five years. The 37,000 square metre campus is located near British [...]
Aston Martin triples car sales but still slides to £90m loss July 28, 2021 Aston Martin plunged to yet another loss this morning despite selling more than three times the number of cars it did in the first half last year. The classic British brand posted a £90.7m pre-tax loss, a markedly improved effort after losing £227.4m in the same period in 2020. Revenue also increased 242 per cent [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 30, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD’s chief economist departs for Fitch Ratings The Institute of Director’s (IoD) chief economist will step away from the role next week to become director of economics at US credit rating [...]
Aston Martin careers to £320m loss as car sales fall a third February 25, 2021 Iconic sports car brand Aston Martin fell to a £322m operating loss in 2020, the firm said this morning, as coronavirus restrictions saw car sales fall a third. In line with this fall, total retail sales slipped 32 per cent, from 6,150 last year to 4,150 this year. Despite the fall in sales, however, shares [...]
Aston Martin capital raise subscribed after Mercedes deal boosts shares October 28, 2020 Aston Martin has said all shares available in its £125m capital raise have been placed or subscribed, as it looks to turnaround its business. The capital raise, which represents approximately 13.7 per cent of the company’s shares, comprised 250m shares at a price of 50p per share. Shares in the beleaguered carmaker jumped 6.24 per [...]
Bespoke Aston Martin Vanquish 25 is a retro supercar dream July 25, 2020 Die Another Day certainly isn’t the best Bond film – and frankly, Pierce Brosnan isn’t the best Bond. But the Aston Martin Vanquish might be the coolest car modified by Q Branch. Having shaped the Vanquish two decades ago, Ian Callum has now modified one, too. The famous car designer’s new company – simply called [...]
Aston Martin seeks to raise £152m to bolster finances June 26, 2020 Aston Martin today said it will ask investors to snap up £152m of new shares to help it become roadworthy once more amid sinking sales and the coronavirus pandemic. Britain’s luxury car manufacturer said the equity raise, planned for the end of June, would be equivalent to around 20 per cent of its existing issued [...]
Aston Martin appoints new finance chief as board shake-up continues June 22, 2020 Aston Martin today announced that Kenneth Gregor would join the iconic carmaker as its new finance chief as the firm continues its business reset after a tumultuous two years. Gregor, who joins the firm with immediate effect, previously spent 11 years as finance chief at fellow luxury carmaker Jaguar Land Rover. His appointment comes amidst [...]
Aston Martin to cut 500 jobs as business reset continues June 4, 2020 Luxury sports car maker Aston Martin has today announced it will cut 500 jobs as the iconic brand continues with its business-wide reset. The firm said the measures were being taken to bring its cost base in line with expected lower levels of car production. The cuts, which cover nearly a fifth of Aston Martin’s [...]
Major Aston Martin shareholder trims stake in iconic carmaker June 1, 2020 One of Aston Martin’s largest shareholders has trimmed its stake in the iconic British carmaker by five per cent, a regulatory filing showed today. Italian private equity firm Investindustrial Advisers disclosed a stake of 14.99 per cent, down from a previous stake of 19.92 per cent. The reason behind the decision to cut the stake [...]