Aston Martin CMO: We Have No Interest in Making Cheaper Cars
*By Michael Teich*
Brexit could be a major bump in the road for Aston Martin if it disrupts trade with the automaker's European partners, said the company's CMO Simon Sproule.
"The biggest threat to us of Brexit is non-tariff barriers, because if you end up getting import duties on Astons going into Europe, then you're going to get import duties on Ferraris coming into the UK. So it's a zero-sum game," Sproule said Tuesday in an interview on Cheddar.
The Brexit withdrawal process began March 29, 2017 after a countrywide vote, and the UK is set to depart from the European Union on March 29, 2019.
A new report from the Federation of German Industries said a "hard Brexit" ー meaning in the absence of a deal between the EU and the UK ー could cause exports to Britain from the rest of the EU to drop by as much as [57 percent](https://www.dw.com/en/german-industry-warns-against-hard-brexit/av-45818058).
That kind of trade disturbance would not be good for business, Sproule said.
"What we're lobbying the government most strongly about is to ensure the free flow of parts and obviously completed vehicles," he added.
Aston Martin ($AML.L) is the latest luxury automaker to make its market debut. Despite a rough start on the London Stock Exchange since its Oct. 3 IPO ー shares are down 16 percent since ー Sproule said patient investors will benefit from the company's future growth.
"The IPO was effectively a marker in our evolution," he said. "People that have been buying into us are buying in for the long term. They buy into the equity story, they buy into the future potential of Aston Martin."
For full interview [click here](https://cheddar.com/videos/aston-martin-cmo-we-have-no-interest-in-making-cheaper-cars).
According to a new report from the ECMC Group, only 48% of high schoolers are considering attending a four-year college. That number is 23% points less than it was in May 2020. After being forced to study remotely from home due to the pandemic, a number of Gen Z are thinking of other alternatives to a successful career. CEO and President of the ECMC Group Jeremy Wheaton, joined Cheddar to discuss more.
In an upcoming new series on Fuse, activist and actor Amara La Negra is taking viewers along with her on the streets of Miami to break down some of the hottest issues in America. The new show 'Don't Cancel Me' will follow a round table format and focus on topics including parenting, colorism, sex and relationships, and so much more. She joined Cheddar's None Of The Above to discuss more.
a.k.a Brands, an accelerator for next-gen, direct-to-consumer fashion brands like Princess Polly, released its first earnings report as a publicly-traded company with strong results. CEO Jill Ramsey joined Cheddar's "Opening Bell" to discuss the company's recent quarter and how the company has grown since its IPO in September.
Wood modification technology company Kebony recently raised $34 million in its latest funding round. The company's patented technology transformed sustainable softwood using leftover materials and makes it into a product that behaves like premium hardwood. The process has the potential to transform the global construction industry, as it is cost-effective and eco-friendly. Kebony CEO Norman Willemsen joined Cheddar News' Closing Bell to discuss.
Lito MC Cassidy, a nominee for Best Rap/Hip Hop Song for his song 'La Vendedora De Placer,' joins Cheddar News to discuss his Latin Grammy nomination and his return to music.
After a year hiatus due to COVID, the LA Auto Show is back in-person from November 19-28. The event will feature automakers from around the world as they introduce their latest concepts and production vehicles. David Fortin, head of consumer marketing for the LA Auto Show, joins Cheddar News to preview the event.
"Anything Is Possible," a documentary about NBA superstar Kevin Garnett recounting his career from being drafted out of high school to a championship with the Boston Celtics, is set to premiere on Showtime. Executive producer Marc Levin and co-directors Daniel Levin and Eric Newman joined Cheddar to provide some background on the project and discuss Garnett's legacy. With KG considered a pioneer for modern NBA draftees straight out of high school (the fifth pick in 1995), the filmmakers also discussed the possibility of the league reversing course on its current rule that requires a player to be at least 19-years-old and a year removed from high school to play.
