With a parade of new models and a marketing tailwind from Formula 1, sports car maker Aston Martin expects to become cash-flow positive this year, according to executive chairman Lawrence Stroll.”We’re now at a really transitional moment, with an inflection point for this company,” Stroll told CNBC. “We’re introducing all our products, finally, after designing and building them for the last four years, after I took over. Going forward, we will now have a normal quarterly output, not these hockey sticks we’ve seen in the past, but the more traditional quarterly flow of new vehicles constantly coming to market.”Stroll said the company, which has been losing money for years, expects to become cash flow positive starting in the third quarter, and continue to be cash flow positive in the fourth quarter and beyond.That would mark a dramatic turnaround for the storied British carmaker, famed for its role in the James Bond movies and for its history of financial ups and downs. Stroll, a billionaire former fashion mogul who stepped in as Aston Martin executive chairman in 2020, imposed a sweeping plan to restore the brand’s shine and profits. 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.Owner of Aston Martin F1 Team Lawrence Stroll (R) shakes hands w …
Article Attribution | Read More at Article Source
[mwai_chat context=”Let’s have a discussion about this article:nnWith a parade of new models and a marketing tailwind from Formula 1, sports car maker Aston Martin expects to become cash-flow positive this year, according to executive chairman Lawrence Stroll.”We’re now at a really transitional moment, with an inflection point for this company,” Stroll told CNBC. “We’re introducing all our products, finally, after designing and building them for the last four years, after I took over. Going forward, we will now have a normal quarterly output, not these hockey sticks we’ve seen in the past, but the more traditional quarterly flow of new vehicles constantly coming to market.”Stroll said the company, which has been losing money for years, expects to become cash flow positive starting in the third quarter, and continue to be cash flow positive in the fourth quarter and beyond.That would mark a dramatic turnaround for the storied British carmaker, famed for its role in the James Bond movies and for its history of financial ups and downs. Stroll, a billionaire former fashion mogul who stepped in as Aston Martin executive chairman in 2020, imposed a sweeping plan to restore the brand’s shine and profits. 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.Owner of Aston Martin F1 Team Lawrence Stroll (R) shakes hands w …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
