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☆ Stellantis shares plunge as carmaker follows Volkswagen in profit warning
▼ + stars: | 2024-09-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Stellantis said it would reduce inventory levels in the United States and ship 200,000 fewer vehicles to North American dealers in the second half of 2024 than in the same period last year. Volkswagen said earlier this month that around 2 million fewer cars are being sold in Europe per year compared with pre-pandemic levels. Volkswagen itself is selling 500,000 fewer cars annually in the region, the equivalent of around two car plants. “To remain competitively viable, we have to comprehensively restructure Volkswagen… because the situation is serious,” the company said last week. “Volkswagen has to increase efficiency and reduce costs.”For Stellantis, Monday’s profit warning is the latest piece of bad news.

Persons: American carmaker, Ram Trucks, Stellantis, Volkswagen’s, Aston Martin Lagonda Organizations: London CNN —, Chrysler, Milan, Citroen, Peugeot, North, Volkswagen, Aston, IG Metall, United Auto Workers Locations: American, North America, United States, North American, China, London, Europe, Detroit

☆ Aston Martin gets a boost from Formula 1 and new high-performance models
▼ + stars: | 2024-05-31 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

"We're now at a really transitional moment, with an inflection point for this company," Stroll told CNBC. Aston Martin has overhauled and improved manufacturing, shored up its financials to make investments in the future, and is now launching a fleet of new products defined by high-performance and luxury finishes. Aston Martin has teased a new super-powered V-12, expected to be called Vanquish, later this year. The $800,000 Aston Martin hybrid Valhalla. Courtesy: Aston Martin

Persons: Aston Martin, Lawrence, We're, James Bond, Aston, Aston Martin F1 Team Lawrence, Frederic Vasseur, Chris Graythen, It's Organizations: CNBC, Aston, Aston Martin F1 Team, Ferrari Team, of Miami, Miami, Autodrome, Aston Martin Locations: British, Miami , Florida

☆ Aston Martin's losses nearly doubled on lower sales, but carmaker projects growth from new models
▼ + stars: | 2024-05-01 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

Exhibition of Aston Martin DB11 during the Turin Motor Show 2018. LONDON — Luxury carmaker Aston Martin on Wednesday reported widening losses in the first quarter, as the company stopped production of its core models ahead of a launch a new range of vehicles later this year. Adjusted loss before tax nearly doubled to £110.5 million ($137.8 million) compared to a loss of £57.3 million in the previous year. Analysts had expected a £93 million first-quarter loss, according to Reuters. This is a breaking news story and will be updated shortly.

Persons: Aston Martin DB11, Aston Martin Organizations: Aston, Analysts, Reuters

☆ Aston Martin lowers volume outlook on DB12 model production issues
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsNov 1 (Reuters) - British luxury carmaker Aston Martin (AML.L) posted a wider-than-expected quarterly loss on Wednesday and lowered its 2023 volume outlook due to production issues for its new sports car DB12. Aston Martin started delivery of its next-generation sports car DB12 last quarter, and expects its 2023 volume to come in at 6,700 units, from an earlier forecast of about 7,000 units. "Given the initial delays experienced with the DB12 ramp up during Q3, we have marginally updated our FY volume outlook as the impact limits production capacity for the full year," the company said in a statement. The London-listed company, which retained the rest of its 2023 outlook, reported an adjusted operating loss of 48.4 million pounds ($58.82 million) on revenue of 362.1 million pounds in the three-month period ended Sept. 30. Analysts on average had expected an adjusted operating loss of 38 million pounds on net revenue of 370 million pounds.

Persons: Aston Martin, Thomas Peter, AML.L, Yadarisa, Sherry Jacob, Phillips Organizations: REUTERS, Thomson Locations: Beijing, China, London, Bengaluru

☆ Aston Martin races past second quarter expectations
▼ + stars: | 2023-07-26 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +2 min

[1/2] FILE PHOTO-Employees work on a car at the Aston Martin factory in Gaydon, Britain, March 16, 2022. Aston Martin kept its 2023 forecast for volumes of about 7,000 vehicles and an adjusted core profit margin of about 20%. Aston Martin reported an adjusted operating loss of 38.9 million pounds ($50.2 million) and revenue of 381.5 million pounds in the quarter to June. Analysts on average had expected an adjusted operating loss of 51 million pounds on revenue of 344 million pounds, according to a company-compiled consensus. Aston Martin said it was also on track to meet its medium-term financial targets.

Persons: Aston Martin, Phil Noble, Amedeo Felisa, Felisa, JP Morgan, James Bond's, China's Geely, Yadarisa, Savio D'Souza, Mark Potter Organizations: Aston, REUTERS, HK, Lucid, Thomson Locations: Gaydon, Britain, Bengaluru

[1/3] A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo Jin/File PhotoJune 26 (Reuters) - British luxury carmaker Aston Martin (AML.L) has reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group (LCID.O) a 3.7% stake in the company in return for access to its "high performance" technology, Aston Martin said on Monday. Subject to shareholder approval, Aston Martin will issue about 28.4 million new ordinary shares to Lucid Group. Smaller carmakers such as Aston Martin are more reliant on partnerships to make the transition. Lucid and Aston Martin have a common shareholder in Saudi Arabia's Public Investment Fund (PIF).

Persons: Hyunjoo Jin, Aston Martin, Lucid, Aston Martin's, PIF, Aby Jose Koilparambil, Rashmi Aich, Barbara Lewis Organizations: REUTERS, Lucid, Mercedes, Benz, Aston, Public Investment Fund, U.S, Tesla Inc, Thomson Locations: Scottsdale , Arizona, U.S, Aston Martin, Saudi, Bengaluru

☆ London stocks hit three-month low dragged by defence stocks; Aston Martin surges
▼ + stars: | 2023-06-26 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) slipped 0.4%, hitting a three month low as the aerospace and defence sector (.FTNMX502010) lost 2.1% after fighters of the Wagner group attempted a mutiny in Russia over the weekend. "Defence stocks tend to benefit from bad news in terms of geopolitical tensions," said Christopher Peters, trading floor manager at Accendo Markets. Britain's biggest defence company BAE Systems (BAES.L) slumped 3.1%, dropping to the bottom of the FTSE 100. The more domestically-focussed FTSE 250 midcap index (.FTMC) also fell 0.5%, touching a three-month low. Among individual stocks, Cineworld Group (CINE.L) dropped 28.9% after the cinema chain operator said it will file for administration as part of a proposed restructuring plan.

Persons: Russia Cineworld, Aston Martin, carmaker Aston Martin, Wagner, Christopher Peters, JP Morgan, Shashwat Chauhan, Sherry Jacob, Phillips Organizations: Defence, U.S, EV, Lucid, carmaker, Accendo, BAE Systems, Lloyds, Bank of England, Bank for International, Cineworld, Thomson Locations: Russia, Bengaluru

[1/2] The logo of Chinese carmaker Geely Auto is pictured at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. Thailand's Board of Investment held discussions with five major Chinese EV makers including Geely during a roadshow to China in April, its Secretary-General Narit Therdsteerasukdi said. "All expressed keen interest in Thailand's policy to develop a regional EV production base and an integrated EV supply chain," Narit said, without providing more details of the talks with Geely. BYD and China's Great Wall Motor Co Ltd (601633.SS) are already working on building local EV production in Thailand. China's Great Wall Motor has said it is considering a research and development centre in Thailand that could work on battery-powered pickup trucks.

Persons: Aly Song BANGKOK, Geely, Narit Therdsteerasukdi, JAC Motors, Narit, Aston Martin, China's, Devjyot Ghoshal, Zhang Yan, Jamie Freed Organizations: Shanghai, REUTERS, Reuters, of Investment, BYD Co, Chongqing Changan Automobile Co, Jiangling Motors Corp Ltd, EV, Wall Motor Co, Volvo, Aston, Malaysian carmaker Proton, Toyota Motor Corp, Isuzu Motors, Thomson Locations: Shanghai, China, Thailand, Chongqing, Geely, Swedish, Southeast Asia

☆ 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.

☆ 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 flags hit to margins, deliveries from supply chain snags
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Aston Martin logo is seen at a dealership in central London, Britain August 29, 2018. REUTERS/Henry NichollsNov 2 (Reuters) - British luxury carmaker Aston Martin (AML.L) on Wednesday warned that higher costs from global supply chain and logistical disruptions would hurt its margins, and lowered its wholesale delivery volume outlook for 2022. "Whilst (supply chain issue) has created short-term impacts on our performance, I am confident that with the actions we are taking, we will exit the year in a stronger position to deliver on our goals for 2023 and beyond," Chief Executive Officer Amedeo Felisa said. The London-listed company now expects to deliver 6,200-6,600 vehicles this year from more than 6,600 vehicles forecast earlier. Reporting by Pushkala Aripaka in Bengaluru; Editing by Dhanya Ann Thoppil and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

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