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The exterior of an Aston Martin store.

Jeremy Moeller | Getty Images News | Getty Images

LONDON — British luxury carmaker Aston Martin Lagonda forecasts better profitability this year, after widening its 2022 pretax losses on the back of a weakening U.K. currency.

The company more than doubled year-on-year pretax losses to £495 million ($598 million) in 2022, from £213.8 million in 2021, saying earnings were “materially impacted” by a revaluation of some U.S. dollar-denominated debt, “as the GBP [U.K. currency] weakened significantly against the US dollar during the year.”

Adjusted operating losses also swelled to £118 million last year, from £74 million in 2021. Revenues rose by 26% on the year to £1.38 billion, with gross profit up by 31% year-on-year to £450.7 million.

Despite acknowledging supply chain and logistics disruptions — which have been pervasive in the automotive industry, notably as a result of semiconductor shortages — the company said its wholesale volumes increased by by 4% year-on-year to 6,412. The figure included more than 3,200 of vehicles from the Aston Martin DBX range, of which more than half were driven by the launch of the DX707 SUV model unveiled in February last year.

Aston Martin Lagona shares soared, up 14% at 10 a.m. London time, after Aston Martin Lagonda issued more optimistic guidance for this year.

“For 2023 we expect to deliver significant growth in profitability compared to 2022, primarily driven by an increase in volumes and higher gross margin in both Core and Special vehicles,” it said Wednesday, flagging a pick-up in activity in the second half of 2023.

“In addition to the ramp up of the already sold-out DBS 770 Ultimate, we expect deliveries of the first of our next generation of sports cars to commence in Q3.”

The company expects wholesale sale volumes to pick up to 7,000 units in 2023, anticipating its adjusted earnings before interest, taxes, depreciation and amortization to add roughly 20%.

It noted the ongoing pressures of a volatile operating environment, high inflation rates and “pockets of supply chain disruptions.”

“Our order book’s never been stronger,” Aston Martin Lagonda Executive Chairman Lawrence Stroll told CNBC last month. “The future is fantastic, the cars are coming, fundamentals of the business are extremely strong. And demand has never been stronger.”

Aston Martin Lagonda's Lawrence Stroll: Order book has never been stronger

Stroll on Wednesday reiterated the company’s target to deliver 10,000 wholesale units over the coming years, as well as the target to become “sustainably free cash flow positive from 2024,” after raising £654 million of equity capital in a move that also saw Saudi Arabia’s Public Investment Fund become an anchor shareholder.

“Over the last three years, I have consistently referenced our target to deliver around £2bn of revenue and £500m of adjusted EBITDA by 2024/25,” Stroll said. “I am extremely proud that given the strong progress we have made to transform Aston Martin into a truly ultra-luxury business, demonstrated by the trajectory of our ASP and gross margin, we are on track to meet these financial targets, but with significantly lower volumes than I originally envisaged.”

“2022 in line with consensus is already positive news for AML,” Jeffrey analysts said in a Wednesday note, flagging the upside of the company’s guidance on units and EBITDA margin.

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Trump says he will revoke Biden offshore drilling ban on first day in office

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Trump says he will revoke Biden offshore drilling ban on first day in office

A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California. 

Mario Tama | Getty Images

President-Elect Donald Trump said Tuesday that he will reverse President Joe Biden‘s ban on offshore drilling along most of the U.S. coastline as soon as he takes office.

“I’m going to have it revoked on day one,” Trump said at a news conference, though he indicated that reversing the ban might require litigation in court.

Biden announced Monday that he would protect 625 million acres of ocean from offshore oil and gas drilling along the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea. The president issued the ban through a provision of the 1953 Outer Continental Shelf Lands Act.

An order by Trump attempting to reverse the ban will likely end up in court and could ultimately be struck down.

During his first term, Trump tried to issue an executive order to reverse President Barack Obama’s use of the law to protect waters in the Arctic and Atlantic from offshore drilling. A federal court ultimately ruled that Trump’s order was not lawful and reversing the ban would require an act of Congress.

The Republican Party has a majority in both chambers of the new Congress.

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ZEEKR to deliver multiple EVs in 2025 with NVIDIA Thor tech, including a US model for Waymo

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ZEEKR to deliver multiple EVs in 2025 with NVIDIA Thor tech, including a US model for Waymo

Chinese EV Automaker ZEEKR is marking its third consecutive presence on the display floors of CES. During this year’s event, ZEEKR began teasing at least three new models scheduled to launch in 2025, some of which will feature an NVIDIA DRIVE Thor-based smart driver domain controller. In addition to those codenamed models, ZEEKR is also planning to launch another NVIDIA DRIVE Thor-equipped EV called “RT” in the US to be used by robotaxi developer Waymo.

ZEEKR wasted no time touting its latest EV and autonomous driving technology at CES 2025, which kicked off in Las Vegas earlier this week. As noted above, 2025 marks ZEEKR’s third consecutive participation in the annual tech event, which is notable considering the company was founded less than four years ago.

During last year’s event, ZEEKR showcased its 007, which had just launched in China days before. It offers a 540-mile range and a starting price below $30,000. At CES 2023, ZEEKR made its public debut in the US, showcasing its flagship 001 shooting brake and a purpose-built EV designed for robotaxi network Waymo, which we saw up close later that fall. 

The Waymo BEV has become known as the ZEEKR RT, which is mentioned alongside several exciting announcements that the Chinese automaker teased last month.

ZEEKR Waymo
ZEEKR’s booth at CES 2025 / Source: ZEEKR/Weibo

ZEEKR shares plans for new models, plus Waymo BEVs

ZEEKR kicked off CES 2025 today with news of a new domain controller built using NVIDIA’s DRIVE Thor next-generation centralized computer. NVIDIA unveiled DRIVE Thor in the fall of 2022, announcing ZEEKR as its first customer and initial production of vehicles featuring the technology planned for early 2025.

As such, ZEEKR is hailing itself as the first OEM to integrate NVIDIA’s next-gen system-on-chip (SoC) into a domain controller to handle a wide range of smart driving, autonomous scenarios, and parking functions. Per NVIDIA during the DRIVE Thor debut, the computer “achieves up to 2,000 teraflops of performance, unifies intelligent functions — including automated and assisted driving, parking, driver and occupant monitoring, digital instrument cluster, in-vehicle infotainment (IVI) and rear-seat entertainment — into a single architecture for greater efficiency and lower overall system cost.”

As NVIDIA’s first DRIVE Thor customer, ZEEKR said its domain controller will soon be mass-produced and integrated into a new large SUV model to be launched this year. That SUV will be one of three new BEVs ZEEKR plans to launch in 2025. According to ZEEKR CEO Andy An, those vehicles have been internally codenamed “EX,” “DX,” and “CC.”

In addition to those passenger EVs in the works, ZEEKR shared that its RT van, based on the MIX and explicitly designed as a robotaxi for Waymo, is undergoing real-world testing and is expected to arrive as the world-first mass-produced purpose-built vehicle for autonomous rides.

ZEEKR RT deliveries to Waymo are expected later this year for further testing ahead of a future public robotaxi network launch. If that happens, ZEEKR could become the first Chinese EV brand to enter the US market, although it’s a bit of a loophole.

ZEEKR’s 009 MPV, MIX van, and 001 FR shooting brake are on display at CES at booth #5640 in the West Hall of the Las Vegas Convention Center. Go check them out.

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Hyundai is selling vehicles on Amazon? ‘You’re gonna need a bigger cart’

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Hyundai is selling vehicles on Amazon? 'You're gonna need a bigger cart'

How about a new EV with your next Amazon order? As the first brand to sell vehicles on Amazon, Hyundai says, “You’re gonna need a bigger cart.” Hyundai is now selling cars directly on Amazon, including popular EVs like the IONIQ 5. Here’s how you can snag one.

How can you buy Hyundai EVs directly on Amazon?

Buying a new Hyundai is now as easy as adding it to your next Amazon order. However, you might need a bigger cart.

Amazon revealed plans to expand into vehicle sales in 2023, starting with Hyundai. After making it official at the 2023 LA Auto Show, Hyundai began selling vehicles on the platform just before the end of 2024.

Buying a new vehicle on Amazon Auto is as easy as buying a new laptop or outfit. You can browse through available Hyundai vehicles near you, secure financing, checkout, and schedule a pick-up time directly using Amazon’s trusted platform.

You can easily find the vehicle you’re looking for with the option to sort by model, trim, color, features, and more. After you find it, you can secure financing, sign the paperwork electronically, and complete the process in just a few clicks.

Hyundai-EVs-on-Amazon
How to buy Hyundai vehicles on Amazon (Source: Hyundai)

The best part is the haggle-free pricing. What you see at checkout is the price you will pay. Once finalized, you can pick the day and time to pick up your new ride at a local dealership.

If you have a trade-in, you can get an instant quote by answering a few questions and uploading images of the car. Then, you can apply the credit toward your new vehicle on Amazon Autos. When you go to pick up your new vehicle, the dealership will be ready for it.

Hyundai-EVs-on-Amazon
2025 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai plans to expand the program by adding more dealers throughout the year and offering more leasing and financing options. On the Amazon Auto website, you can view Hyundai vehicles at participating dealers near you.

You can already find top-selling Hyundai EVs on Amazon Auto, including the updated 2025 IONIQ 5 and IONIQ 6. With new models, like the three-row IONIQ 9 rolling out, expect to see more EVs available soon.

Hyundai-EVs-Amazon
2025 Hyundai IONIQ 5 (Source: Hyundai)

The new IONIQ 5 starts at $42,500. With a bigger (84 kWh) battery, the updated model has a range of 318 miles, up from 303 miles in the outgoing IONIQ 5. It also has an NACS port, so it can be charged at Tesla Superchargers.

After kicking off production at its new EV plant in Georgia late last year, Hyundai’s electric vehicles now qualify for the $7,500 EV tax credit for the first time.

For those of you who don’t have access to the program yet, we’ve got you covered. With the new 2025 models rolling out, Hyundai is offering 2024 IONIQ 5 SUVs for next to nothing while they are still in stock. You can use our links below to find the best deals on Hyundai EV models in your area.

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