Latest news with #Stroll
Daily Mirror
14 hours ago
- Automotive
- Daily Mirror
Aston Martin reserve driver plan for Canadian GP after update on Lance Stroll
With Lance Stroll in a race against time to be fit for the Canadian Grand Prix, Aston Martin need a backup plan - made more difficult by both its reserve drivers planning to race at Le Mans that same weekend Aston Martin could turn to a veteran Formula 1 star to partner Fernando Alonso at the Canadian Grand Prix. That's one of the options available to the team with Montreal native Lance Stroll in a race against time to be fit for his home race. Stroll withdrew from Sunday's Spanish Grand Prix the night before the race, citing pain in his hand and wrist that he had been suffering for some time. Aston Martin said he had experienced discomfort for around six weeks, suggesting he had driven the Saudi Arabian, Miami, Emilia Romagna and Monaco Grands Prix with the issue. He is no stranger to pain in that area – he missed pre-season in 2023 after undergoing surgery following a cycling accident while training in Spain. He broke his wrist and a toe but, just over two weeks later, raced at the Bahrain Grand Prix and, incredibly, finished sixth. But it's possible that the accelerated recovery period he went through then, in order to not miss the start of that season, may have led to this recurrence of pain. The team said his issue was "related to the procedure he underwent in 2023", but was no more specific. An Aston Martin spokesperson did not wish to comment on Stroll's personal medical situation. But it is understood that the surgery he skipped the Barcelona race for has been carried out, by Dr Xavier Mir and his team – the same expert who treated him two years ago. Aston Martin chief trackside officer Mike Krack has said that their 'Plan A' is for Stroll to race at the Canadian Grand Prix, a week on Sunday. If he cannot, then they will need an alternative plan – though the timing makes that process a little trickier than it might have been. The Montreal F1 race clashes with another major motorsport event, the famous 24 Hours of Le Mans. And both Aston Martin reserve drivers – Felipe Drugovich and Stoffel Vandoorne – are currently set to take part in the latter, representing Peugeot and Cadillac respectively. If they need to, Aston Martin have the power to pull either of them away from Le Mans to race in Canada. Drugovich in particular likely won't need much convincing, given he has waited patiently for his first chance to race an F1 car, having been stuck on the sidelines since winning the 2022 Formula 2 title. But they are also not Aston Martin's only options. As a current Mercedes engine customer, they also have access to their pool of reserve drivers including Valtteri Bottas, who has made himself available for all 24 F1 races this year in the hope that it might give him the chance to race and audition for a permanent 2026 seat elsewhere. Aston Martin won't want to rush Stroll and risk another recurrence down the line, nor do they want to rush into a decision over their Montreal driver line-up. "We wait to see what the next days are bringing and then we take a decision," said Krack.
Yahoo
a day ago
- Automotive
- Yahoo
Aston Martin faces pressure from Fitch
Fitch Ratings has maintained Aston Martin Lagonda Global Holdings Plc's long-term issuer default rating at 'B-', with a Negative Outlook, citing increased liquidity risk and weaker-than-expected free cash flow in 2024. The credit update, published on 2 June, follows continued financial pressure on the luxury carmaker, despite a recent capital injection and relief from proposed US automotive tariffs. The rating action comes two months after Aston Martin's executive chairman Lawrence Stroll told Bloomberg News (1 April) that he does not rule out taking the company private. Stroll described the carmaker's market valuation — around £650 million — as a 'joke', noting it is now roughly equal to the amount his Yew Tree consortium has invested since 2020. After the latest £52.5 million capital raise, Yew Tree's stake will increase to around 33%. While Stroll insists the company is 'severely undervalued', Fitch's view underscores the difficulty of turning around the carmaker's financial performance. Fitch highlighted a larger-than-anticipated free cash flow deficit in 2024 and ongoing execution risks linked to Aston Martin's turnaround strategy. These concerns persist despite a £125 million capital boost announced at the end of March, comprising a share issue and the sale of the company's stake in its Formula 1 team, which temporarily eases liquidity pressures. Aston Martin, which has declared its goal to become EBIT-profitable in 2025, has consistently struggled to achieve sustainable performance. Car sales fell 9% year-on-year to around 6,000 in 2024, while the group reported a pre-tax loss of £290 million. Analysts have questioned the company's ability to deliver on revised profitability targets, particularly given ongoing supply chain constraints and past delays in model launches. The company's US exposure adds further complexity. The US accounted for 37% of group revenue in 2024, and earlier proposals from the Trump administration to impose 25% tariffs on UK car imports raised concerns. However, a new UK–US trade agreement, whose implementation date remains unclear, will reduce duties to 10% for the first 100,000 vehicles exported annually, roughly equivalent to the UK's 2024 export total, according to the Society of Motor Manufacturers and Traders (SMMT). While management has downplayed the impact, noting the tariff hike is 'not catastrophic,' Fitch notes that the pricing implications are uncertain. To mitigate near-term tariff effects, Aston Martin accelerated US-bound shipments in Q1 2025, providing inventory cover for the second quarter. Management has also indicated that passing on higher costs may be feasible for high-margin, limited-run models, but Fitch notes that long-term margin effects remain unclear. Tariff-related cost pressure adds to existing inflationary challenges, though the company continues to pursue cost-saving initiatives. Since its 2018 IPO at a £4.3 billion valuation, Aston Martin has undergone several strategic resets. The latest, under new CEO Adrian Hallmark, who joined from Bentley Motors Ltd, prioritises profit over volume, scrapping previous sales targets and focusing instead on customised, high-margin models and derivatives of existing platforms. Hallmark previously led Bentley to record profitability, increasing its operating margins to over 20% by 2023. Still, Fitch warns that Aston Martin's 'rating headroom remains constrained,' with profitability dependent on effective execution, shareholder support, and resilience to external risks including weaker demand, particularly in China, and potential delays to new launches. "Aston Martin faces pressure from Fitch" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mirror
3 days ago
- Automotive
- Daily Mirror
Why F1 team can't replace injured driver as little-known rule explained
Just 19 drivers were left to start the Spanish Grand Prix after Aston Martin confirmed after qualifying that Lance Stroll had withdrawn with pain in his hand and wrist Aston Martin were only able to field one driver at the Spanish Grand Prix after it became clear that Lance Stroll was unable to race. The Canadian qualified 14th for the Barcelona race but did not start, his team confirming on Saturday night that he was not going to take to the grid. Stroll is set to undergo a procedure on his hand and wrist after experiencing increased pain in both. It is believed that the problem is related to the operation he had two years ago, after an accident while cycling in Spain during pre-season training ahead of the 2023 campaign. Within just a few weeks, Stroll was back racing and impressed by finishing sixth despite both wrists not being fully healed. But it seems one of those hands has not properly recovered and now he must undergo another operation to fix the problem. An Aston Martin team statement read: "Over the course of the past six weeks, Lance has been experiencing pain in his hand and wrist, which his medical consultant believes is in relation to the procedure he underwent in 2023. "As a result his medical team have confirmed that he will not race tomorrow and he will undergo a procedure to rectify these issues before focusing on his recovery." As a result, Fernando Alonso was left as the only driver to represent Aston Martin in the Barcelona race. The two-time Formula 1 champion started 10th on the grid and was seeking his first points of the season after a terrible run of luck which had denied him a top 10 finish. Aston Martin have one of their reserve drivers, Felipe Drugovich, with them in Barcelona this weekend. However, the rules do not allow the Brazilian racer to take Stroll's place – because anyone who wants to race must have taken part in at least one other session that weekend. Stroll had intended to race and so took part in all three practice sessions and qualifying. As Drugovich did not, he is unable to fill in for the Canadian and so Aston Martin were left with no choice other than to field just the one car. Stroll's result will officially be recorded as DNS – Did Not Start. But Stroll's misfortune could still provide Drugovich with the opportunity he has been waiting for. With the Canadian Grand Prix coming up in two weeks, should the Montreal-born racer be unable to compete in his home city, then Aston Martin will need to call up one of their reserves. Drugovich will most likely get the nod in that case. And if that were to happen, it would mean an F1 race debut for the 2022 Formula 2 champion whose career has stalled since that feeder series success, unable to find a way onto the grid since signing with Aston Martin.
San Francisco Chronicle
3 days ago
- Automotive
- San Francisco Chronicle
Lance Stroll to miss Spanish GP due to pain in hand and wrist
MONTMELO, Spain (AP) — Aston Martin says that Canadian driver Lance Stroll won't race in the Spanish Grand Prix on Sunday due to pain in his hand and wrist. Aston Martin won't be able to replace Stroll since he qualified for the race. That means Fernando Alonso will be the only driver in an emerald green car. The team did not specify which hand was hurting Stroll. It said that he had been 'experiencing pain in his hand and wrist' for six weeks and that doctors believe it is related to a medical procedure he underwent in 2023 following a cycling accident to treat fractures and a broken toe.
Hamilton Spectator
3 days ago
- Automotive
- Hamilton Spectator
Lance Stroll to miss Spanish GP due to pain in hand and wrist
MONTMELO, Spain (AP) — Aston Martin says that Canadian driver Lance Stroll won't race in the Spanish Grand Prix on Sunday due to pain in his hand and wrist. Aston Martin won't be able to replace Stroll since he qualified for the race. That means Fernando Alonso will be the only driver in an emerald green car. The team did not specify which hand was hurting Stroll. It said that he had been 'experiencing pain in his hand and wrist' for six weeks and that doctors believe it is related to a medical procedure he underwent in 2023 following a cycling accident to treat fractures and a broken toe. Aston Martin said Stroll 'will undergo a procedure to rectify these issues before focusing on his recovery.' Stroll has scored all 14 of Aston Martin's points this season while Alonso has struggled . Stroll's home race, the Canadian GP, is next up in two weeks. ___ AP auto racing:
