Automotive News – Late July 2026
Creditors to Aston Martin have appointed investment bank Jefferies as financial adviser amid growing concern that the company could pursue a debt deal that leaves bondholders more vulnerable to losses.
Funds led by Arini Capital Management, BlackRock and Sculptor Capital Management hold the majority of Aston Martin’s $1.85bn equivalent of bonds due in 2029.
The group appointed Jefferies after reports emerged that the company was in talks to raise new financing backed by assets placed beyond the reach of existing creditors, a structure known as a drop-down.
The creditor group, which is also being advised by law firm Akin Gump, sent a letter to the Gaydon-based luxury carmaker stating it could provide fresh financing if needed, and entered a cooperation agreement binding members to act in concert in any debt discussions with the company.
Sourced from TheBusinessDesk
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Aston Martin has reported a 38% increase in revenue to £628.6m for the six months to 30 June 2026, up from £454.4m a year earlier, as deliveries of its Valhalla model boosted performance.
Gross profit rose 68% to £212.5m, with gross margin improving to 33.8% from 27.9% in H1 2025. Total wholesale volumes increased 21% to 2,331 vehicles, including more than 220 Valhalla deliveries.
Adjusted EBITDA turned positive at £62.7m, compared with a loss of £3m in H1 2025, giving an adjusted EBITDA margin of 10%.
The operating loss narrowed to £56.5m from £134.7m a year earlier, helped by a gain on the sale of Aston Martin’s Formula 1 naming rights to AMR GP.
However, net financing costs jumped to £97.7m from £6.1m, largely due to an £11m loss on foreign exchange movements from the revaluation of non-cash US dollar debt, compared with a £72m gain in the prior year period. As a result, the loss for the period widened slightly to £153.1m, from £148.7m in H1 2025.
Sourced from TheBusinessDesk
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UK vehicle production fell -7.5% in the first half of 2026, with factories turning out 385,979 cars and commercial vehicles, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). After a challenging start to the year, however, output stabilised in the second quarter, dipping by just 128 units (-0.1%) year on year as exports strengthened and car production returned to marginal growth.
Overall production for export reached 294,222 units in the first six months, down -5.6% on the same period last year, while output for the domestic market fell more sharply, down -13.2% to 91,757 units. In the second quarter, however, exports increased, rising by 5,075 units (+3.9%). June performance was particularly strong as car exports rose for the third consecutive month, up 4.5%, and commercial vehicle exports surged by 54.3%, albeit from a weak base. Overall output in June continued to steady, following a rise in May, easing by just -1.2% to 68,200 units.
Sourced from SMMT
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Jaguar Land Rover (JLR) plans to cut hundreds of jobs, less than a year after a cyber-attack brought production to a halt for more than a month.
In a statement, the firm said: “Impacted colleagues will be supported to find alternative roles wherever possible, alongside the option of voluntary early exit.”
The company said it expected fewer than 300 people would leave the firm under the plans.
JLR, which has its global headquarters at Whitley and manufacturing sites in Solihull, Wolverhampton, and Halewood on Merseyside, employs about 30,000 people in its UK operations, with approximately 10,000 people employed at plants overseas.
Sourced from BBC News website
