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I believe that’s correct @PC62. It makes sense to me even after reading through Q1 again, although it’s got me thinking would that make my 189 cars sold since Q1 lower, any input welcome if you think my numbers are wrong. I think the problem being that people don’t want to pay that price for a car that’s been held in a dealership, If you could afford a 120k+ car would you buy a standard one from the dealership or wait a few months for one in your choice of colour and extras and pay a little bit more?
A car on finance, is a car classed as sold - any which way you look at it.
Aston Martin are paid, the dealer is paid - the contract is between the finance company and the buyer.
the difference between a gain and a loss is in the timing. Currently most parameters do not recommend the purchase of this title. This is my thought.
I went completely out at 67.
i mention again. Cash is king.
That is your cash, not someone else's that you've borrowed at alarming rates.
That is number 1, 2 and 3 priority, get the borrowing down.
Yes, some other positives exist, but SP will hold back until debt down.
@MadMan111
Thanks for the feedback - I'm happy to understand better how it works with the dealers payments on wholesales.
Looking back at the Q1 results there were 578 sales generating 78.6 mGBP revenue. Are you saying that he 428 destock is within that 578 figure ? If that’s true, the Q1 sales figures are truly poor (I assumed it was 578 +428, where the 428 units didn't generate 2020 revenue). Thanks for your thoughts.
@chrispye84 finance companies will pay AM for the cars sold no matter what, AM are not giving people finance they’ll just have a contract with a finance company.
@pc62 dealers don’t pay for cars up front only once they are sold, so every car in the destock will effect their income. They make be making a loss on cars it depends what AM are saying to dealers to push these cars of the floor faster.
@MadMan111
Agree with you on the numbers, but destocking doesn't create any AML revenue - the cars were sold to the dealers last year - so these are not AML sales.
What worries me is that there's no mention of any Q2 sales (but I'm sure there are), and the destocking rate has slowed - was 142/month in Q1 now 94/month for April& May.
At the end of Q1 they were 50% along the destock - so there's another 400 sportscars to destock (its why I beleive Gaydon is remaining closed for few more months IMO).
@pc62 Trading statement from last Friday quoted
· Dealer stock reduced by 617 units year-to-date to end May. This figure was 428 at Q1 results so actual figures would be 189 sold. Here’s a link for the trading statement If you’d like to read it all.
https://otp.tools.investis.com/Utilities/PDFDownload.aspx?Newsid=1398885
Looks like 55p+ is a sticking point.
@selecta6 I don’t see my figures being far off, they had 244m as of end of May and another 150m added to that now so 394m minus June’s expenses, big spending on parts etc as production ramped up so say 150m spent in June (just guessing this figure really) so would be back to 244m cash. Money has already been spent for parts out of the initial R.I so I’d actually expect this to be lower, hence my estimate being around 300m cash.
If only WG.
Wouldn't have the strength to pull the pin. AML has exhausted of strength, and cash!!
I'm the clever one who dipped in on Weds at 64.5, after 8% drop.
Sadly, before further 20% drop on Friday.
Am i p...d off, you betcha.
He has some very solid investors here, but he has wangled a further 20% out of us, without even having the courtesy to ask!!
Hey ho, it will just reduce my eventual profit by 20%!!
Yes, i'm still a strong believer in what is occurring.
On the debt side worth remembering too that in the February Rights, Stroll provided £55.5 million of short-term working capital support, the financial terms of which were significantly more favourable compared with the Delayed Draw Notes. No reason why he can't do something similar again if / when required. Also, presumably some nice fat DB5 Goldfinger up front payments & DBX order deposits coming through. GLTAH. Jtini
Selecta, bang on imho.
Someone with some objectivity is rare.
Stroll has taken over AML and diluted shareholders twice in 3/4 months. Fact.
It won't be long until the next cash raise either, as you allude to.
Not harsh at all.
Who has got a handle on it.
Plus, it's foot on accelerator that is needed not handle on door catch.
It is madness to be borrowing at 12%, that is 120 times base rate.
@MadMan111
......the end of May they have sold around 200 cars since Q1 results..
where did you find this info ? Cheers.
Sorry to sound harsh @selecta6... but you've shown with several points there that you don't have a great handle on what's going on. But your average is good - so will come out smiling soon I think.
I hope you're correct Madman.
I'm in here, with many others.
But, Q2 will be horrendous. Not sure, that is fully factored in.
Stroll will sugar coat it, with covid, new men in, promising sales, etc.
But, the market will react to actuals.
Don't get me wrong, i see this growing long term, 3 to 5 years.
Has to get debt down.
Car sales have to be big, just to cover debt servicing.
Remember even though results are released end of July they will only be up until end of June, with maybe a little update of what’s happened in July.
Selecta6 as of the end of May they have sold around 200 cars since Q1 results. Expecting a loss of around 350m with around 300m cash left, So long as no more closures Q3 is going to be the turn around, patience will pay off.
Well Stroll has got his cash at the expense of us, and other 'not in the know' investors.
For me, no interest in this stock in the 50's.
Below, i'll be buying more.
Above, i'll actually be in profit.
Short term, i think we'll sit it out around 55p.
Need something new, again, to get it moving either way.
Talk about rollercoaster!
Next known news, Q2 results on 29th July. Beware, they will be very grim.
Hence Stroll getting placing out of the way, now!!
Will AML, have actually sold a car!!! in last quarter.
Orders are cloudy hopes. It's sales they need. That produces cash, which they are currently leaking, big time.
Cash is king.