Aston Martin demand is phenomenal, returned first in China – Stroll



© Reuters. Aston Martin luxury sports car is on display at a dealership in Beijing

LONDON (Reuters) – Carmaker Aston Martin is seeing “phenomenal” demand, boosted by a rebound in China, the company’s executive chairman and billionaire investor Lawrence Stroll said on Friday.

“Demand right now is phenomenal,” he told the Financial Times’ The Future of the Car digital conference. “China really returned first and strongest, and is gangbusters.”

Stroll led a consortium which invested in Aston earlier this year as the carmaker struggled following its 2018 stock market flotation, after which its share price slumped.

Since then a new chief executive has taken over and the 107-year company, famed for being fictional agent James Bond’s car of choice, did a deal in October which sees German carmaker Daimler up its stake in the firm.

Shareholders approved the latest capital injection plan on Friday.

Stroll said Aston’s current growth trajectory meant “the public markets are the right place” for the firm whilst eying an increase in the value of its shares, which stand at 79 pence ($1.06).

“They’ll be significantly worth more than they are today,” he said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  FTSE Russell downgrades Argentina stocks; Vietnam, Russia on watchlist for upgrade

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here