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Speaker 1: Aston Martin announcing their brand new propatite, the Evakye hypercar,

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Speaker 1: is going to be competing against Lamar. We're all excited

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Speaker 1: about this. We know what we can see on the

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Speaker 1: Formula one stage. Now we're going to take into endurance

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Speaker 1: racing as well. The company's executive chairman is, of course,

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Speaker 1: Laurence Stroll. He joins us now from the company's new

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Speaker 1: campus at Silverston Lawrence. Great to see you. Thank you

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Speaker 1: very much indeed for taking the time to join us

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Speaker 1: here at Bloomberg. We've just been discussing what is happening

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Speaker 1: with luxury spending. More broadly, watch prices are coming down.

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Speaker 1: Luxury stocks like LVMH are coming under pressure. There's a

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Speaker 1: concern that maybe spending is going to slow down. Is

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Speaker 1: that also going to be true in your market, in

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Speaker 1: the upper end of the car market.

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Speaker 2: Well, we're in a very fortunate position. We don't feel

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Speaker 2: that at all. Our order books have never been stronger,

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Speaker 2: starting with our DBXR suv. You know, in a couple

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Speaker 2: of years since we launched it, it's taken twenty percent

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Speaker 2: market share of high performance luxury SUVs, and most recently

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Speaker 2: we've announced that we're rolling out our next generation front

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Speaker 2: engine sports cars. We launched our dB twelve in the

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Speaker 2: south of France in May before the Monaco Grand Prix,

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Speaker 2: and the order book's never been strong, the strongest order

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Speaker 2: book cost that Martin's ever had. So I think as

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Speaker 2: long as you have the right product, the demand is

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Speaker 2: one hundred percent there, and again we're feeling great upside.

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Speaker 3: If anything at all now fair enough.

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Speaker 4: I mean, I would bet you the LBMA should probably

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Speaker 4: say they have the right product too. So I wonder

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Speaker 4: if you were to look at any cracks, where do

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Speaker 4: you think they would emerge?

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Speaker 2: First, Lawrence, Again, we're not feeling any I think a

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Speaker 2: lot of it does have to do when you're in

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Speaker 2: the car business that you roll out all new launches

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Speaker 2: of all new products after coming off of seven year

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Speaker 2: old products which still sold out in our dealerships. So again,

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Speaker 2: we're not feeling any any cracks whatsoever.

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Speaker 1: Lawrence. You've recently raised money, you're investing more into the business.

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Speaker 1: You got Gilley on board, you go Mercedes on board,

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Speaker 1: You've got technology coming therefore from those businesses as well.

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Speaker 1: We're seeing turbulence in financial markets. Raising money is going

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Speaker 1: to get harder and harder. It looks like from here,

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Speaker 1: do you have the money you need right now and

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Speaker 1: do you have the technology you need right now to

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Speaker 1: compete with brands like Ferrari.

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Speaker 3: We most certainly do.

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Speaker 2: Our last capital to raise money was raised to pay

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Speaker 2: down our mezzanine debt, which we're going to do very shortly. Otherwise,

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Speaker 2: the company is fully funded and we don't require any

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Speaker 2: further funding whatsoever. And as far as technology is concerned,

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Speaker 2: as we launch all of our new products, we're bringing

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Speaker 2: out all of our new technology. So if you look

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Speaker 2: at our dB twelve which we just launched, which is

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Speaker 2: our first of our next generation front engine sports cars,

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Speaker 2: it's the highest technology of any GT we're calling it

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Speaker 2: a super tour of any Grand Tourismo car on the market,

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Speaker 2: better vehicle driving dynamics, more horsepower, the highest technology in

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Speaker 2: the interior in.

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Speaker 3: Terms of HDMI infotainment.

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Speaker 2: So yes, we are perfectly I think, ahead of the

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Speaker 2: competition in terms of our technology as well as our performance.

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Speaker 4: So that car behind you, that's Evalkyrie, right and it's

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Speaker 4: going to be in Lamar, correct, What do you get

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Speaker 4: by being in Lamal?

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Speaker 1: What's the deal for you?

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Speaker 2: Well, it's a hugely commercial beneficial event. For the company one.

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Speaker 2: You you have millions of viewers around the globe watching

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Speaker 2: these cars. Not only l the mom but it's also

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Speaker 2: an America at IMSA, at Daytona, at seabring a very

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Speaker 2: historic tracks around the world.

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Speaker 3: This is our customer base. You know.

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Speaker 2: We sell these cars at a substantial profit. It's great

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Speaker 2: marketing to see us go around to La Mango, around

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Speaker 2: to Sebring, go around to Daytona, millions and millions of viewers.

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Speaker 2: It's extremely aspirational and as a trickle down effect over

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Speaker 2: the whole brand, the halo effect.

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Speaker 1: It's a different market there. For by the sounds of things,

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Speaker 1: Lawrence to F one, how are you seeing the F

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Speaker 1: one story developing from here? And what benefit do you

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Speaker 1: see coming from that over the next few seasons. The

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Speaker 1: number of teams looks like it's going to be increasing.

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Speaker 1: How do you feel about that? What do you see

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Speaker 1: the opportunity in Formula one is kind of just give

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Speaker 1: us a sense of how you think that brand is

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Speaker 1: going to develop for you as we see maybe more

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Speaker 1: teams coming in.

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Speaker 2: Formula one has truly transformed Aston Martin. It's introduced us

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Speaker 2: to a much younger customer base. We have data showing

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Speaker 2: fifty percent of the consumers today buying our product. We're

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Speaker 2: not askedon Martin customers before seeing us in Formula one.

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Speaker 2: So it's transformed us at the highest echelon of technology

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Speaker 2: in automotive, at the highest luxury in automotive, which is

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Speaker 2: very much our client base. So Formula one has really

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Speaker 2: been transform ormative for us as a marketing tool. Also

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Speaker 2: again we are bringing performance to aston Martin technology performance.

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Speaker 2: There's no better performance, no greater performance than Formula one.

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Speaker 3: So for us, it's just been absolutely fantastic.

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Speaker 2: And our largest market, our largest market being America.

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Speaker 3: You know, with now three races being held there.

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Speaker 1: Does that effect now get dileted though more teams come

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Speaker 1: in Andretti comes in, You've seen the effects. I'm a

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Speaker 1: dramatic effect that it's happened your business.

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Speaker 3: Yeah.

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Speaker 2: But by the way, Andretti has been approved by the FIA,

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Speaker 2: which is one of two of the bodies that have

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Speaker 2: to approve their entry. The second is FOM, who has

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Speaker 2: not approved their entry. So Andretta is far from entering

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Speaker 2: Formula one.

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Speaker 4: But if he does, same kind of question, are you

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Speaker 4: worried there's going to be too many cooks in that

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Speaker 4: F one kitchen.

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Speaker 2: I think that F one is in a great place

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Speaker 2: with ten teams, and I have a very strong suspicion

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Speaker 2: of main ten teams.

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Speaker 1: Okay, that's interesting, Lawrence. You're at a new campus having

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Speaker 1: an advantage, does it give you?

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Speaker 3: Oh, it's it's it's it's it's enormous.

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Speaker 2: It's it's it's over half a million square feet over

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Speaker 2: three buildings.

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Speaker 3: We moved in May into building number one.

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Speaker 2: Building number three is a new wind tunnel, which we

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Speaker 2: will have online next September. That again, transformative for a

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Speaker 2: Formula One team to have the latest and greatest win tunnel.

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Speaker 2: Last wind tunnel built in Formula One was in two

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Speaker 2: thousand and four. I think you can imagine how technology

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Speaker 2: has moved on in the last twenty years.

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Speaker 3: So it's it's it's a game changer.

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Speaker 2: There is no weather facility like this in Formula One

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Speaker 2: and it's again for us, it's it's totally a game changer.

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Speaker 4: Hi, Lawrence, Lawrence Stroll, I've aston Martin. We totally appreciate it.

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Speaker 4: Beautiful car, good luck. I appreciate your time today.

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Speaker 2: Thank you,