Aston Martin’s profits drop as supply chain disruption scuppers deliveries Aston Martin Luxury sports car seller Aston Martin today said its losses had more than doubled due to the impact of supply chain disruption in the first half of 2022. Aston Martin said its sales volumes dropped eight per cent from 2,901 in the first half of 2021 to 2,676 in the first half of 2022. The [...]
Saudis now second-largest investor in Aston Martin as £653m raised to pay off debts ASTON MARTIN Saudi sovereign wealth fund PIF has become the second-largest shareholder in UK luxury car maker Aston Martin, sending shares up 25 per cent. The fund, controlled by Saudi Crown Prince Mohammed bin Salman (MBS), will own a 16.7 per cent stake in the marquee. This will be behind the 18.3 per cent owned by Canadian [...]
Shares plunge for Aston Martin after car maker said it was considering all options amid Saudi funding rumours aston martin Shares in luxury carmaker Aston Martin plunged 14 per cent yesterday after it said it was considering options after rumours that Saudi Arabia’s sovereign wealth fund was eyeing an investment. As first reported by trade publication Autocar, Aston Martin is considering sale of equity in return for an infusion of as much as £200m. It [...]
Aston Martin unveils ex-Ferrari boss as new CEO May 4, 2022 Aston Martin has unveiled an ex-Ferrari boss as its new CEO, to steer the automotive and engineering firm through the energy transition and trim losses. Felisa, formerly the CEO of Ferrari, spent over 26 years with the rival automotive manufacturer. The incoming boss will succeed Tobias Moers, who steps down with immediate effect, but will [...]
Aston Martin presses EV accelerator with Britishvolt partnership March 7, 2022 Deluxe car maker Aston Martin has pressed the electric vehicle (EV) accelerator, announcing today a partnership with UK battery technology firm Britishvolt. The partnership is expected to help the car maker launch its first fully electric vehicle in 2025. A joint team from both companies will be tasked to design, develop and industrialise batteries, working [...]
Aston Martin outperforms pre-pandemic revenue thanks to ongoing ‘brand desirability’ February 23, 2022 Aston Martin drove “significant progress” in the past year, with wholesales increasing 82 per cent as more normal operations were resumed following pandemic restrictions in 2020 and completed rebalance of dealer inventory in the first quarter of 2021. Revenue increased to £1.1bn largely due to substantial volume growth, driven by customer demand, and strong pricing [...]
Lawrence Stroll interview: Aston Martin, bonds and becoming F1 world champions October 21, 2021 Mention of bonds and Aston Martins usually calls to mind the fictitious adventures of 007, but for Lawrence Stroll, the words relate to his very real ambitions to shake and stir Formula 1. Less The World Is Not Enough; more Only The World Championship Will Do. Canadian billionaire Stroll this month launched a retail bond [...]
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 [...]