Sport

Vettel to quit Ferrari, will race for Aston Martin in 2021

Editorial Bureau September 10, 2020

OTTAWA (CANADA) – Sebastian Vettel, four-time Formula One world champion, will race for Aston Martin, the new moniker for the Canadian Racing Point team, on a multi-year deal next year. He will leave Ferrari at the end of the season. Vettel, 33, will replace Mexican Sergio Perez. His

Business

Aston Martin forays into SUV market by rolling out DBX

Editorial Bureau July 9, 2020

LONDON (UK) – The first sports utility vehicle of Aston Martin rolled off the production line on Thursday, igniting hopes of a turnaround. This comes after changes in management and ownership at the luxury carmaker over the past few months. James Bond’s carmaker, the company had a difficult time since it floated in 2018 as […]

Business

Aston Martin opts for stock offering in bid to bolster capital

Editorial Bureau June 26, 2020

LONDON (UK) – Aston Martin said on Friday it would issue new shares worth up to 20% of its existing equity capital as the luxury carmaker seeks additional funds to tide over the coronavirus crisis. New owner Yew Tree will pick up 25% of the offering, with Prestige Motors, which has steadily reduced its holding […]

Business

Ex-Jaguar Land Rover CFO Kenneth Gregor to become Aston Martin finance head

Ren Leen June 22, 2020

LONDON (UK) – Aston Martin on Monday nominated Kenneth Gregor, who was the former financial chief at Jaguar Land Rover, as its new chief financial officer in a bid to tap experienced management to help revive the 107-year-old firm’s fortunes. Gregor, 53, will be tasked with helping with the turnaround of the company, which is […]

Business

Aston Martin chief Palmer to leave, Mercedes-AMG CEO Moers to replace him

Jim Stein May 25, 2020

(Business) – Aston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday. The luxury carmaker said in an emailed statement that it is reviewing its management team but declined […]

Business

Deep loss posted by Aston Martin as coronavirus outbreak hits sales

Jim Stein May 13, 2020

LONDON (Business) – Aston Martin posted a first-quarter pretax loss of 119 million pounds after sales dropped by nearly a third due to the impact of the coronavirus outbreak and the destocking of dealers, the carmaker said on Wednesday. “COVID-19 and the resulting global economic shutdown has had a material impact on our performance this […]

Sport

Mercedes F1 boss Toto Wolff takes stake in Aston Martin

Ren Leen April 18, 2020

LONDON (Sports) – Mercedes Formula One boss Toto Wolff has taken a stake in British sportscar maker Aston Martin, whose executive chairman Lawrence Stroll runs the Racing Point F1 team, according to company filings. A Mercedes F1 spokesman said Wolff’s move was purely an investment on the Austrian’s part and would be diluted by a […]

Business

Aston Martin shares slip with deepening losses, finance chief leaves

Ren Leen February 27, 2020

LONDON – Aston Martin shares slumped to a record low on Thursday after the British luxury carmaker said its losses ballooned last year and its chief financial officer would leave by the end of April. The firm, famed for being fictional agent James Bond’s car of choice, posted a pretax loss of 104 million pounds […]

Business

Britain’s Aston Martin talking to investors as reviews funding

Ren Leen December 15, 2019

Luxury British carmaker Aston Martin is in early stage talks with potential investors about building “longer term relationships” which it said on Friday may or may not involve an equity investment, as part of a funding review. The 106-year firm said in a statement that it was reviewing its funding requirements and various options, following […]

Business

Britain’s Aston Martin talking to investors as reviews funding

Ren Leen December 14, 2019

Luxury British carmaker Aston Martin is in early stage talks with potential investors about building “longer term relationships” which it said on Friday may or may not involve an equity investment, as part of a funding review. The 106-year firm said in a statement that it was reviewing its funding requirements and various options, following […]