A couple of weeks a ago, billionaire Lawrence Stroll was linked to a buy-in at Aston Martin. It is believed that the Canadian is talking to potential investors about a “longer-term relationship”. According to the rumour mill, it may or may not involve an equity investment, as part of a funding review.
However, one problem was that Aston Martin are tied up with Red Bull Racing as title sponsors. Fortunately for Stroll Sr, the British automobile manufacturer confirmed in a statement that it was reviewing its funding requirements.
So, according to Autocar magazine, Lawrence Stroll is gunning for a major stake in Aston Martin. Amid deals like the Peugeot-Fiat merger, the British company insisted on not needing a bigger automotive group.
However, the massive slump in Aston’s shares in the market since 2018, says otherwise. Sadly for the marquee, sales of all their car units have fallen well below their financial expectations.
Now it seems that selling their stakes could be the only way to rescue Aston Martin from the doldrums. Their situation gets even more dire as the company reported a third-quarter loss in November.
Apparently, their full-year wholesale volumes were projected be lower than previously hoped after diminishing demand in Europe and Asia.
As of now, Aston Martin’s hopes lie on almost doubling sales with its first SUV, which enters production in 2020. One of their primary targets for the coming year is the female populace and attracting them towards the brand.
Aston’s stock closed at a worrying 9.5%, which is said to be lower at 556.8 pence. To make matters even worse, their shares were priced at 19 pounds during its October 2018 flotation.
Coming back to Lawrence Stroll, back in 2018 he led a consortium to take over the erstwhile Force India F1 team. The team went into administration and he rescued them, rebranding the team as Racing Point, with Lance Stroll slotted into the team.