F1 News: Aston Martin CEO Reveals How The Sport Made Him $80 Million

The safety car has more than one use!

During the Financial Times Future of the Car Summit, Lawrence Stroll, CEO of Aston Martin and a prominent figure in the Netflix F1 documentary series "Drive to Survive," discussed the secret financial impact of the carmaker's involvement in Formula One racing.

Stroll highlighted the expression "race on Sunday, sell on Monday," revealing the tangible benefits of showcasing Aston Martin in the F1 paddock. When asked about the impact on sales from featuring in the sport, considering that most customers were already familiar with the brand, Stroll emphasised the influence of their participation.

The CEO specifically mentioned the significance of Aston Martin supplying F1's safety car, which leads the racing pack at a reduced pace during accidents. Stroll revealed that the company sold between 300 and 400 of its Vantage F1 edition cars due to their appearance in these races.

While the number may seem modest, Stroll doubled down on its importance for a company of Aston Martin's size. Each Vantage F1 edition carries a price tag of £159,500 ($200,000), suggesting that the carmaker has generated sales worth approximately $60 million to $80 million through its safety car.

In the last full financial year, Aston Martin sold approximately 6,400 units, generating revenues of around $1.74 billion.

Lawrence Stroll's son, Lance Stroll, is a driver on the Aston Martin team, alongside two-time world champion Fernando Alonso. Forbes reported that the billionaire led a $235.6 million investment to gain control of the company in early 2020.

However, Aston Martin's stock performance has been disappointing since its initial public offering on the London Stock Exchange five years ago. The company's value has plummeted by about 63% since October 2018, erasing much of the resurgence following Stroll's takeover.

Despite the challenges, Stroll expressed confidence during the summit that he would eventually see a return on his initial investment, indicating a positive outlook for the future of Aston Martin.