Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
“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.
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.
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! 😆
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
Https://www.carmagazine.co.uk/car-reviews/aston-martin/db12-volante/
But we’re used to Astons driving well, what’s refreshing here is that the interior looks just as exquisite as the exterior, and works very well indeed. We’d certainly have one of these over a Bentley Continental GTC. A Ferrari Roma Spider? That’d be a closer run test.
Astonbroomes, aka C twenty sad, iv just had a quick look at your past posts! 😆 need I say more!
Quote,
"The SP is basically in a holding pattern until the company starts printing profits and erasing debt. Getting excited about new CEOs, new store openings, how many shares XYZ holds etc. are just distractions from the real task at hand"
How do you think it's going to start turning a profit? And erasing debt? These things we get excited about are the foundations and the building blocks that make Astons future bright.
That's why people should get excited about new ceo's and new stores etc.
And not just any ceo but the best in the business has chosen to leave his job which after doing such a stella job was now an easy number for him and come to Aston Martin. Why? Because the future for AML is very bright.
Https://www.wallpaper.com/transportation/aston-martin-ginza-showroom-tokyo-japan
Https://www.fool.co.uk/2024/04/02/could-this-ftse-250-stock-ever-rival-ferrari/
I think stroll cares more about results than actually pulling the strings. He'll of had to make Hallmark certain promises to get him. All the hard work has been done now, the path is already set, stroll is probably getting ready and looking forward to letting hallmark do his thing and watch the money role in.
According to one insider evo spoke to, one of Adrian Hallmark’s conditions of accepting the role was to have full autonomy over the brand’s future products and strategic direction.
Https://www.evo.co.uk/bentley/206617/bentley-ceo-departs-for-aston-martin
During his tenure, sales of the ultra-luxury British marque rose significantly, from 9,559 units during his first year to 15,174 cars in 2022.
https://www.google.com/amp/s/www.motor1.com/news/713382/bentley-boss-retires/amp/