Tag: auto news now

LONDON — Aston Martin will reveal the first of its overhauled sports-car range at the end of this month, Chief Financial Officer Doug Lafferty said. The automaker has promised to reveal new versions of its three core sports-car models – the DB11, Vantage and DBS – over the next 12 months. The company has not said which will be first, but the DB11 is the oldest model in its lineup. Aston Martin will increase prices on all three cars as it looks to return to profitability with a target margin of 40 percent. “All the next-generation sports cars carry that…

Tesla missed market estimates for first-quarter total gross margin after cutting prices in the US and globally. The electric vehicle maker reported a total gross margin of 19 percent, compared with an expectation of 22 percent from analysts polled by Refinitiv, Reuters reported. Net income during the most recent period dropped 24 percent to $2.5 billion. Tesla reported global deliveries of 422,875 in the first quarter, a 4.3 percent increase compared with the previous quarter. That small growth suggests price cuts were necessary to maintain momentum amid rising EV competition and higher interest rates. The EV maker likely sold 161,630…