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☆ Aston Martin to start delivery of Alonso-inspired race car Valiant in fourth quarter
▼ + stars: | 2024-06-25 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +2 min

A logo on the new Aston Martin DBX at the new Aston Martin Lagonda factory in Barry, Wales, Britain February 21, 2020. The company will produce only 38 units of the Valiant, a vehicle designed by the Aston Martin team alongside Formula One driver and two-time world champion Fernando Alonso. Alonso is one of Aston Martin Aramco Formula One Team's drivers, alongside Stroll's son, Lance. Aston Martin Racing and Aston Martin Lagonda are distinct entities. New Tab , opens new tab

Persons: Aston Martin DBX, Aston Martin, Rebecca Naden, Fernando Alonso, Lawrence, Valiant, Alonso, Aston, Stroll's, Lance, Aston Martin Lagonda, Yadarisa, Devika Organizations: REUTERS, Aston, Formula, Reuters, Aston Martin Aramco, One, Aston Martin Racing, Thomson Locations: Barry , Wales, Britain, British, Saudi, Bengaluru

☆ Aston Martin owner Lawrence Stroll says F1 team targeting its first win in the 2024 campaign
▼ + stars: | 2024-02-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAston Martin owner Lawrence Stroll says F1 team targeting its first win in the 2024 campaignLawrence Stroll, chairman of Aston Martin Lagonda and owner of the Aston Martin Formula One team, says the Aston Martin team is targeting its first win in the upcoming 2024 Formula One season.

Persons: Aston Martin, Lawrence, Aston Martin Lagonda Organizations: Aston, Aston Martin Formula

☆ Lucid misses revenue expectations after EV deliveries disappoint
▼ + stars: | 2023-08-07 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +3 min

In an aerial view, a sign is posted on the exterior of Lucid headquarters on March 29, 2023 in Newark, California. A year ago, Lucid reported a net loss of $555.3 million, or 33 cents per share. Revenue in the second quarter rose to $150.9 million from $97.3 million in the second quarter of 2022. Lucid said on July 12 that it delivered 1,404 Air sedans in the second quarter. The company delivered 1,406 vehicles in the first quarter of 2023, and 679 vehicles in the second quarter of 2022.

Persons: Lucid, Sherry House, Aston Organizations: Lucid, Refinitiv, Refinitiv ., Revenue, Air, EV, Aston Martin, British Locations: Newark , California

☆ Aston Martin flips from cash-guzzler to carmaker
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 1 (Reuters Breakingviews) - Aston Martin Lagonda (AML.L) is making a painful transition from cash-guzzler to viable carmaker. A 216 million pound cash call on Monday brings its total capital raised since 2018 to just under 1.8 billion pounds. By this year, Aston Martin will have grown revenue by 13% per annum since 2019, according to Refinitiv data, thanks to new models like the DB12 and higher prices. Aston’s current enterprise value is just under 2 times forecast 2024 sales, a discount to Porsche, and far below Ferrari’s (RACE.MI) more than 8 times multiple. Yet Aston still needs to show it can make an electric vehicle, with the first due in 2025.

Persons: Aston Martin Lagonda, James Bond, Lawrence Stroll’s, Aston Martin, Aston, Neil Unmack, Steve Cohen, Liam Proud, Oliver Taslic Organizations: Reuters, Public Investment Fund, Porsche AG, Porsche, Twitter, Sequoia, Thomson Locations: Japan, India

☆ UK's FTSE 100 slips on dour earnings; NatWest falls
▼ + stars: | 2023-07-26 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The FTSE 100 index (.FTSE) lost 0.2%, while the more domestically focussed FTSE 250 midcap index (.FTMC) was flat. UK earnings season picked up pace with Lloyds Banking Group(LLOY.L), Britain's biggest mortgage lender, posting a pre-tax first-half profit below analysts' forecast compiled by the bank. The lender fell 2.7%, while the UK banks index (.FTNMX301010) slipped 0.9%. Rolls-Royce (RR.L) soared 19.3%, to hit its highest level in over three years after the aero-engineering company raised its full-year operating profit forecast. Reporting by Shashwat Chauhan in Bengaluru; editing by Eileen Soreng and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Royce, Aston Martin, Alison Rose, Nigel Farage, Georgina Cooper, Aston, Shashwat Chauhan, Eileen Soreng, Sohini Organizations: HY, U.S, Fed, Lloyds, NatWest, NatWest Group, BBC, Lloyds Banking Group, BNY, Equity, Rio Tinto, Royce, Dunhill, Tobacco, Aston Martin Lagonda Global Holdings, U.S . Federal Reserve, Thomson Locations: Rio Tinto, London, Rio, Bengaluru

☆ Lucid's second quarter deliveries fell short of estimates amid demand concerns
▼ + stars: | 2023-07-12 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Visitors walk at the Lucid Air during the Mobile World Congress 2023 (MWC), the telecom industry's biggest annual gathering on February 28, 2023 in Barcelona, Spain. Luxury electric vehicle maker Lucid Group said Wednesday that it delivered 1,404 of its Air sedans to customers in the second quarter, a bearish update amid demand concerns. Lucid's second-quarter deliveries compare with 1,406 deliveries in the first quarter of 2023 and 679 in the second quarter of 2022. Wall Street analysts polled by FactSet had expected Lucid to deliver about 2,000 Airs in the second quarter. Lucid's stock has fallen about 58% in the last year through Tuesday amid growing concerns about demand for the Air luxury sedan.

Persons: FactSet, Wall, Peter Rawlinson, Lucid, Aston, Aston Martin Organizations: Mobile, Lucid, Wall Street, Air, Aston Martin, British, Saudi Arabia's Public Investment Fund Locations: Barcelona, Spain, U.S

☆ Aston Martin pulls out of slow lane in EV race
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 26 (Reuters Breakingviews) - Aston Martin Lagonda’s (AML.L) route to viability is a brain-teaser worthy of Q, James Bond’s quartermaster famous for turning everyday objects into whizzy tools. The 2.6 billion pound carmaker’s latest deal with $11 billion Lucid (LCID.O) shows the marque made famous by the fictional spy is, however, making progress. The deal with Lucid – majority-owned by the PIF, handily enough – will make Aston’s ambition to roll out its first electric vehicle by 2025 more credible. The deal sent Aston shares up over 9% in early Monday trading. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Aston Martin Lagonda’s, Q, James Bond’s, Aston, Lawrence, –, Mercedes, Neil Unmack, George Hay, Oliver Taslic Organizations: Reuters, Jefferies, Public Investment Fund, Porsche, Mercedes, Benz, U.S, Aston, Twitter, Canada, Siemens, Telecom Italia, Vivendi, Thomson

☆ Aston Martin sticks to 2023 outlook after smaller Q1 pretax loss
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] Employees work on a car at the Aston Martin factory in Gaydon, Britain, March 16, 2022. REUTERS/Phil NobleMay 3 (Reuters) - British luxury carmaker Aston Martin Lagonda (AML.L) on Wednesday reported a narrower quarterly pretax loss and maintained its 2023 outlook, benefiting from the strong sales of its sport utility vehicle DBX and higher selling prices. Free cash outflow in the quarter stood at 118 million pounds, compared with 25 million pounds of outflow a year ago as it spent on the development of new sports cars and its electrification programme. Aston Martin said it expects 2023 to be the "peak year" of capital spend. Loss before tax for the three months to March 31 was 74.2 million pounds ($92.7 million), compared with 111.6 million pounds a year earlier.

While the Fed is widely expected to raise rates by 25 basis points at its policy rate announcement at 1800 GMT, the hopes of a pause in increases have grown after a banking crisis that has threatened to hurt economic growth. Lloyds Banking Group (LLOY.L) edged down 0.8% despite beating quarterly profit estimates, as the bellwether lender echoed rivals in maintaining its full-year forecasts. However, energy stocks (.FTNMX601010) were a drag, down 1.2%, tracking weakness in crude prices. Haleon (HLN.L) lost 3.8% as the world's biggest standalone consumer health business reported first-quarter profit below analyst expectations. Luxury carmaker Aston Martin Lagonda (AML.L) lost 2.2% after it reported a narrower quarterly pre-tax loss and maintained its 2023 outlook.

☆ UK's FTSE 100 kicks off week on grim note; miners fall
▼ + stars: | 2023-03-06 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

The export-oriented FTSE 100 (.FTSE) fell 0.2% and the more domestically-focussed FTSE 250 (.FTSE) was flat by 9:25 GMT. Copper prices were in the red as top consumer China set a lower-than-expected gross domestic product target of 5%. Flutter Entertainment Plc (FLTRF.L) rose 2.4% and Aston Martin Lagonda Global Holdings Plc surged 17.8% on price target raises by brokerages. Clarkson Plc (CKN.L) added 5.1% after the shipping services provider reported a strong annual profit. Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Aston Martin shares surge 14% on profitability forecast for 2023
▼ + stars: | 2023-03-01 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

LONDON — British luxury carmaker Aston Martin Lagonda forecasts better profitability this year, after widening its 2022 pretax losses on the back of a weakening U.K. currency. Revenues rose by 26% on the year to £1.38 billion, with gross profit up by 31% year-on-year to £450.7 million. The figure included more than 3,200 of vehicles from the Aston Martin DBX range, of which more than half were driven by the launch of the DX707 SUV model unveiled in February last year. Aston Martin Lagona shares soared, up 14% at 10 a.m. London time, after Aston Martin Lagonda issued more optimistic guidance for this year. "Our order book's never been stronger," Aston Martin Lagonda Executive Chairman Lawrence Stroll told CNBC last month.

☆ Aston Martin Lagonda's Lawrence Stroll: Order book has never been stronger
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: 1 min

CNBC's Arabile Gumede speaks to the executive chairman of Aston Martin Lagonda, Lawrence Stroll, about the current environment and the future strategy for the iconic car producer.

“There’s no such thing as a set forecast right now,” said Sophie Kelly, senior vice president of whiskies at Diageo North America, speaking at the same event. The firm, a unit of Interpublic Group of Cos.’ Mediabrands, cut its growth forecast for next year to 4.8% from an earlier prediction of 5.8% in June. Organic revenue growth is a metric that removes the effects of currency fluctuations, acquisitions and disposals. Airbnb Inc. slashed its advertising spending and invested in brand marketing, lessening its reliance on search-engine marketing. “We knew that people are changing their behavior,” said William White, Walmart’s chief marketing officer.

Most luxury brands could theoretically stop marketing since they can’t produce goods fast enough to meet current demand, but smart marketers are spending more to build long-term equity, Mr. Sproule said. “There’s no filtering, it’s direct-to-consumer, and we think that’s how consumers want to hear from luxury brands,” said Jeff Curry, vice president of marketing, communications and product, in describing Lucid’s marketing strategy. About 300 people who preordered the $300,000 Aston Martin 2022 V12 Vantage sports car attended dinner at the company's main factory in May. Executives said these events for existing customers and even paid events double as marketing functions, because they have the potential to raise luxury brands’ profiles among wealthy consumers. Separately, Aston Martin held a black-tie dinner for people who purchased the 2022 edition of its V12 Vantage sports car.

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