Chris Bryant, Columnist

Aston Martin Earns a Shot at Catching Ferrari

But investors won’t believe the British luxury automaker has turned a corner until it becomes a reliable cash generator.

August 1, 2023 at 11:06 AM UTC

By Chris Bryant

Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times.

Catching up.
Photographer: Francois Nel/Getty Images Europe

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Share sales pop up at Aston Martin Lagonda Global Holdings Plc almost as often as luxury sports cars roll off its UK production lines. A lot. Yet this week’s latest £216 million pound cash call has a decidedly more upbeat flavor than those following its disastrous 2018 initial public offering.

Raising equity now (to repay expensive debt) is much less dilutive than it would have been a year ago. Aston Martin’s shares have quadrupled since November amid excitement about its new lineup of high-priced sports cars and impressive performance on the Formula 1 race track.