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ECD Automotive Design, Inc. (NASDAQ: ECDA) stands as a premier custom-car builder, specializing in the restoration and modernization of classic British motor vehicles such as the Land Rover Defender, Land Rover Series IIA, Range Rover Classic, and Jaguar E-Type. Founded in 2013 by three British automotive enthusiasts, ECD has grown into the world's largest Land Rover and Jaguar restoration company, known for its bespoke luxury builds.
Main Operations:
- Restores and modernizes classic vehicles with a focus on Land Rovers and Jaguars.
- Customization includes engine upgrades, including Chevrolet V8s, Land Rover V8s, Cummins diesel engines, and new electric drivetrains.
- Every vehicle is hand-built in 2,200 hours by master-certified craftsmen at their 100,000-square-foot facility in Kissimmee, Florida.
Recent Achievements:
- Launched a mobile design studio to bring the customization experience directly to clients across the U.S.
- Introduced the ECD Beach Runner, a versatile vehicle based on the Land Rover Defender 110 platform.
- Expanded into the classic American muscle car market by acquiring assets from Brand New Muscle Car, enabling ECD to produce bespoke Ford Mustangs among other classic models.
- Increased production capacity through manufacturing efficiencies and a third production line focused on classic Ford Mustangs.
- Generated $15.1 million in revenue in 2023, a 22.5% increase from the previous year.
Customer Experience:
- Clients design their vehicles through an immersive luxury experience, choosing every detail from the powertrain to the upholstery.
- Launched a state-of-the-art vehicle configurator, allowing customers to design their dream vehicle from any device.
Financial Condition:
- Reported a net loss of $1.6 million for 2023, compared to $1.4 million in 2022, with improved gross margins due to efficiency gains.
- Operating income improved to $(1.6) million in 2023 from $(1.9) million in 2022.
- Cash and equivalents increased to $8.1 million as of December 31, 2023.
Future Outlook:
Eager to tap into the $15 billion market ecosystem for high-end and collectible cars, ECD aims to consolidate the luxury classic car market and expand its product base. With its strong brand and innovative approach, ECD is poised to become a leading player in the resto-mod industry, offering not just restored vehicles but complete luxury experiences.
ECD Auto Design has commenced production of its custom Ford Mustang restomod program, focusing on 1966-1970 models. The project represents the company's first venture into American muscle cars, expanding beyond their traditional Land Rover Defender, Range Rover Classic, and Jaguar E-Type restoration business.
Each ECD Mustang is built as a one-of-one vehicle, featuring modern Roush V8 engine options, custom interior work with hand-stitched leather, and integrated modern technology. The vehicles combine classic design elements with contemporary performance upgrades and luxurious customization options.
ECD Automotive Design (Nasdaq:ECDA), the largest Land Rover and Jaguar restoration company, announced a partnership with Ten Easy Street of Nantucket, a luxury concept showroom. The collaboration aims to expand ECD's retail presence by showcasing their custom vehicles in Nantucket's high-end shopping district near the Boat Basin.
The partnership will enable ECD to display vehicles for sale on Nantucket in 2025 and host exclusive client events throughout the season. This strategic retail expansion is designed to increase the company's sales funnel by providing potential customers with hands-on experience of their custom builds in a luxury setting.
ECD Automotive Design (NASDAQ: ECDA), a leader in restored and modified luxury vehicles, has received a delisting notice from Nasdaq due to failing to file its Form 10-Q for Q3 2024 on time. The company has 60 calendar days to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant up to 180 calendar days (until May 19, 2025) to regain compliance. ECD states it is working to complete and file the delayed Q3 2024 Form 10-Q within the initial 60-day period.
ECD Auto Design has launched its new 'Boutique' Studio, expanding beyond its traditional production lines to create highly specialized one-of-one restored and modernized classic vehicles. The studio will cater to clients seeking unique vehicles like classic Ferraris, Aston Martins, and Porsches, operating with a dedicated facility and specialized team.
The Boutique Studio will produce 18 vehicles in its first year, offering expanded options for materials, finishes, and design features. Each vehicle will be assigned its own team of craftspeople in a single bay, maintaining ECD's standards of precision engineering and craftsmanship.
The initiative represents ECD's philosophy of 'If you can dream it, we can build it,' targeting visionary collectors who understand the company's craftsmanship and seek unprecedented levels of customization.
ECD Automotive Design (NASDAQ: ECDA) announces its first retail venture through a strategic partnership with One Drivers Club in West Palm Beach. The company will establish a 4,800-square-foot showroom near 'Billionaire's Row,' serving as a shared clubhouse, sales showroom, and design center. The space will allow clients to personalize custom builds across ECD's vehicle lineup, including Land Rover Defenders, Jaguar E-Types, Mustangs, and Toyota FJs. The collaboration leverages One Drivers Club's high-traffic location and national membership base, providing ECD access to car collectors and enthusiasts. The facility will feature a curated display of One Drivers Club's vehicle collection and host joint events.
ECD Auto Design unveils Project Skywood, a custom Land Rover Defender 110 featuring a GM LS3 430 HP engine with 6-speed automatic transmission. The vehicle showcases an Olive Yellow exterior with Rice Grain roof, custom 18-inch Sawtooth wheels, and a full-length panoramic sunroof. The interior boasts a 2+2+4 seating configuration with RECARO Orthoped seats, premium Spinneybeck Amalfi leather, and custom wood paneling. Advanced features include heated/cooled seats, touchscreen stereo with CarPlay, blind spot assistance, and backup cameras.
ECD Automotive Design (Nasdaq: ECDA) has appointed Kevin Kastner as Chief Revenue Officer (CRO). Kastner, an experienced marketing executive, will focus on driving sales and price point growth through new market channels, managing revenue streams, and developing the company's upcoming retail strategy. His previous experience includes director roles at Moss Motors , marketing management at AMSOIL, Inc., and CEO positions at Iron Dog and MacKinnon Marine. The appointment aims to strengthen ECD's sales organization and help fill factory capacity.
ECD Auto Design unveils 'The Farmington Hills Commission', a one-of-one Classic Jaguar E-Type restomod heading to Michigan. The vehicle features a GM LT1 V8 engine with an 8-speed automatic transmission, Fosseway braking system, and GAZ adjustable sport suspension. The exterior showcases a Narvik Black gloss finish with chrome accents and 16-inch wire wheels. The interior boasts Amalfi Black leather seats, brushed aluminum finishes, and a mahogany wood-rimmed MOMO steering wheel. Modern upgrades include LED lighting, Bluetooth connectivity, and digital gauges while maintaining the classic E-Type aesthetic.
ECD Auto Design announces expanded collaboration opportunities for luxury brands, offering joint marketing initiatives featuring their custom-built vehicles, including classic Land Rover Defenders, Range Rover Classics, Jaguar E-Types, Toyota FJs, and Ford Mustangs. The partnership program includes joint product placement, complimentary use of ECD vehicles for brand campaigns, and co-hosted luxury events. These initiatives aim to create cross-industry connections in the ultra-luxury segment, allowing premium brands to showcase their products alongside ECD's bespoke automotive designs.
ECD Auto Design has unveiled its first built-for-inventory custom Land Rover 4x4, marking a significant shift in meeting client demand for immediately available restored vehicles. This new offering, starting at $249,995, combines iconic design with modern luxury and reduced wait times. The vehicle features:
- Santorini Black exterior paint
- LS3 6.2L V8 engine with 6-speed automatic transmission
- Heavy-duty axles, disc brakes, and extended-range fuel tank
- 6-point full external roll cage and NAS-style rear bumper
- Custom dashboard with modern technology integrations
- Luxurious black leather interior with heated front seats
ECD plans to expand this range to include later Defender models, maintaining their commitment to quality and craftsmanship while offering a convenient solution for clients seeking premium restomods without the standard build time.
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