The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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“we got heavily penalized with our share price,” stroll told journalists at an event at the company’s headquarters in ***don earlier this month. “we are half what we were, for missing a few db12s.”***don, england – aston martin was “heavily penalized” by investors for last year’s software-related delay in starting production of its new db12 sports car, chairman lawrence stroll said.
problems integrating of the aston martin-developed software in the first of the new front-engine sports cars during the third quarter last year caused a reduction in deliveries, which in turn caused the share price to sink to less than 2 pounds ($2.50) now from almost 4 pounds last summer.
meanwhile, aston martin expects no more delays when it comes to integrating its new software on subsequent models.
“it's the same one in db12, same one in vantage and the same one in [dbs replacement],” stroll said. “so, you only have to go through that experience once.”
aston martin is only building the db12 in the first half of 2024 as it prepares for the new versions of the latest vantage, dbs replacement and updated dbx.
stroll said he preferred to restrict sales rather than push older models.
“it’s potentially financially painful for us, but that is the right way to grow a luxury business,” he said. “we don't want to stuff the market with dbxs with the old interior.”
aston martin sold 2,939 dbxs last year, accounting for 44 percent of the brand’s total 6,620 sales for 2023, according to company figures.
aston martin expects to sell about 7,500 cars this year as production of the vantage and dbx return in the second half. the company aims for sales of 10,000 by 2027, stroll said.
“it was a big challenge for a small company like this to take on hmi challenges and redo the whole software program,” stroll said. “we struggled like every other oem struggled. i don't think it's unique to us to have software integration issues.”stroll said that aston martin had now overcome its software problems and was catching up on a backlog of db12 orders.
“all the software problems are behind us,” he said.
replacement and updated dbx.
stroll said he preferred to restrict sales rather than push older models.
“it’s potentially financially painful for us, but that is the right way to grow a luxury business,” he said. “we don't want to stuff the market with dbxs with the old interior.”
aston martin sold 2,939 dbxs last year, accounting for 44 percent of the brand’s total 6,620 sales for 2023, according to company figures.
aston martin expects to sell about 7,500 cars this year as production of the vantage and dbx return in the second half. the company aims for sales of 10,000 by 2027, stroll said.
1Q24 consensus now published :
https://www.astonmartinlagonda.com/investors/consensus
1st of May and we will see where AM landed.
Bucketclown said this be over £2 at end of month. Has anyone seen Bucketcloth? Quack quack! Haha!
Https://www.gpblog.com/en/news/271825/f1-penalties-perez-and-sargeant-closest-to-suspension.html
Apparently ‘cavalry’ is the collective noun for the group of 14 x Valkyries on display in this photo.
https://en.wheelz.me/wp-content/uploads/2024/04/ASTONMARTINVALKYRIEWORLDRECORD.webp
Full details here:
https://en.wheelz.me/spectacular-world-record-aston-martin-valkyrie-supercar-parade-thrills-salon-prive-london/
Have a nice day, cheers, Paul. :)
"Similarly, Stroll/Yew Tree/Bertarelli, PIF, Geely, Mercedes & Lucid hold 71% of AML shares." this is such a good point Paul...
However, obviously C26 knows more than anyone about AML.
Ask yourself this question, would PIF etc have done any due diligence in relation to the company prior to investing and of so, why did they still invest? This is the answer you need to ask yourself.
C26 goes on about debt all the time, he has no financial acumen of knowledge, lies about facts constantly...
Anyone worried about debt, here is an article to help explain how debt in companies is very common...https://businessfinancing.co.uk/the-worlds-most-indebted-companies/
Yes the share price is not on the rise, but it will, patience is a virtue. I do believe also have the CEO of Bentley join speaks volumes.
3321 posts and *******!!!
AML are on their 4th CEO in 4 years, I hardly think that's 'listening'.
Good morning everyone!
So the Mr JWW video is brilliant. What a car. Q2/3/4 will be interesting.
If you haven’t already seen it enjoy.
https://www.google.com/gasearch?q=mr%20jww%20dbx&tbm=vid&source=sh/x/gs/m2/5
😁
@TinyPie2, @LondonWatcher & @Gkerr – Thanks for the links to the new DBX 707.
- - - - - - - - - -
c2645sg – 22/04/24 - Quote: “… chasing management to do the right thing…”
@c2645sg - So, Stroll should listen to small shareholders from LSE Chat, rather than his CEOs?
Who here has better automotive experience than Moers, Felisa or Hallmark? You? < Roll Eyes >
Similarly, Stroll/Yew Tree/Bertarelli, PIF, Geely, Mercedes & Lucid hold 71% of AML shares.
Which means they can’t be out voted, even if all the minority shareholders were united.
- - - - - - - - - -
Have a good day everyone, cheers, Paul. :)
Https://www.topgear.com/car-news/suvs/very-orange-and-very-fast-new-aston-dbx707-gets-a-brand-new-interior
Hope it gives the share price a major boost
Https://www.youtube.com/watch?v=Zbq1Lkv5Qok&ab_channel=MrJWW
Ctwentyprick "I didn’t say any of these things, you did."
Eh? 😆
"If you don’t complain, you tacitly approve of what’s going on."
😆 I do very much approve of what's going on. A full turn around is what was needed and that's what's been delivered. Iv already voted in all the topics for the forthcoming agm and I'm in constant contact with their shareholder relations department. The future is very much a bright one. Happy Monday people.
I didn’t say any of these things, you did.
If you don’t complain, you tacitly approve of what’s going on.
Ctwentyprick, "Think about all the things I have called for, they all happening."
"What have you done? Nothing of any worth."
Wow! Just so I'm clear, are you saying that aml are acting in a way that you have called for and doing so only because you have called for it?
I mean I knew you were in daily contact with Stroll giving him advice etc but I didn't know he was actually doing as you instructed him. Well can I just say a huge thank you for steering this ship away from troubled waters and into a bright future. 😆
Also, calling you ctwentyprick isn't name calling it's stating the facts, you are a pr!ck! 😆
C2645sg Who pays you to spread these rumours?
'For the avoidance of doubt, most of the loons are filtered on here.'
I take it you've unfiltered the loons then???
The original DBX, china only model DBX and the new DBX707 have failed to sell anywhere close to expectations.
Now they are installing unfinished software into every new model in the lineup.
Prudent managers would get the db12s working properly before rolling this out across the range.
They have no choice, it’s the lesser evil.
Sell more cars which don’t work 100%, over selling fewer cars which all actually work.
If you spent less time calling me names and chasing management to do the right thing, you’d be a more impressive shareholder.
Think about all the things I have called for, they all happening.
What have you done? Nothing of any worth.
This is not the way to go about improving brand image.
Ctwentyprick, "Failed models needing replaced?"
😆 🤣 😂 😹 😆 🤣
New upgraded models that are going to sell well and make this year a great year for aml you mean.
The clock is ticking for you Tim!
Morning Tim,
nice to see you're as fecking miserable as usual! I take it it's raining where you are, you've got mismatched socks on and you've stained your pants already?
Have a great week mate.
XXX
Failed models needing replaced?
Let’s hope aML has thoroughly tested the cars with the software, as the db12 problems clearly still exist.
Imagine taking the decision to install software on all your models when it clearly doesn’t work.
Https://www.autocar.co.uk/car-news/new-cars/aston-martin-dbx-gains-touchscreen-and-goes-707-only
Aston Martin has also removed the mild-hybrid straight-six DBX from sale in the Chinese market, citing rapid shifts in market demand for such powertrains. It has no immediate plans to offer an electrified variant globally.
The updated DBX follows hot on the heels of the new DB12 and Vantage sports cars and will soon be followed by the V12-powered replacement for the DBS. By the end of the year, each car in Aston Martin’s core line-up will be less than 12 months old.
Https://www.astonmartin.com/en-gb/our-world/news/2024/4/22/aston-martin-dbx707-technically-advanced-interior-to-match-class-leading-performance
Deliveries scheduled to begin Q2 2024
Ferrari has filed a patent application for a hydrogen-powered internal-combustion engine, hinting that the automaker is considering this as a way to keep combustion engines alive in a future with stricter emissions regulations.
https://www.motorauthority.com/news/1142929_ferrari-patents-hydrogen-powered-engine