Welcome to our dedicated page for ECD Automotive Design news (Ticker: ECDA), a resource for investors and traders seeking the latest updates and insights on ECD Automotive Design stock.
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 (Nasdaq: ECDA), a top company in Land Rover and Jaguar restorations, announced its participation in the iAccess Alpha Buyside Best Ideas Summer Conference 2024. The event will occur virtually on June 25 and 26, 2024. CEO Scott Wallace and Chairman Ben Piggott will present at 1:30 PM EST on June 25, followed by one-on-one meetings on June 26. The conference gathers investors and presenting companies for live webcasts and personalized meetings. Interested parties can register or request meetings through the conference website. The presentation will be available live and on-demand on ECD Auto Design's website under Calendar Events.
ECD Auto Design celebrates the 60th anniversary of the Ford Mustang by starting production on custom, one-of-a-kind Mustangs. ECD's bespoke vehicles combine the classic Mustang design with modern performance upgrades, safety features, and luxurious handcrafted interiors. CEO Scott Wallace emphasizes the company's commitment to maintaining the Mustang's legacy while incorporating advanced technology. ECD's unique client-focused process allows for personalized design experiences, ensuring customers are involved from concept to delivery.
The custom-built Mustangs offer high-performance engine, driveline, and suspension options, including EV powertrains. This launch marks a significant moment in automotive history, merging nostalgia with contemporary innovation for car enthusiasts and collectors alike.
ECD Auto Design has launched the Shawnee Commission, a bespoke classic Jaguar E-Type, meticulously restored and customized for modern performance and luxury. The vehicle retains its iconic design with Porsche Graphite Blue exterior and chrome accents. Inside, it features luxurious tan and brown Spinneybeck leather seats and French Oak wood flooring in the cargo area. The car is powered by a GM LT1 455 HP engine with an 8-speed automatic transmission, and high-performance brakes. This unique creation is a testament to ECD's craftsmanship and commitment to customer satisfaction.
ECD Auto Design recently showcased two bespoke luxury vehicles, the classic Land Rover Defender and the ECD Beach Runner, in a grand tour from Rodeo Drive to Malibu, California. The Defender, equipped with a custom GM LT4 650 HP supercharged engine, epitomized rugged sophistication among Beverly Hills' elite. Meanwhile, the Beach Runner, designed for beach and coastal cruising, appealed to Malibu's stylish and sophisticated beachgoers. Both vehicles highlight ECD's commitment to unique craftsmanship and personalized luxury, with over 2 million customization options available. The tour underscored the vehicles' fit for the sophisticated, adventurous lifestyle of the West Coast.
ECD Automotive Design, the world's largest Land Rover and Jaguar restoration firm, announced its participation in the Sidoti Microcap Conference on June 12-13, 2024. The company, known for its luxury custom builds, will be represented by CEO Scott Wallace and Chairman Ben Piggott. They will present at 9:15 AM EST on June 12 and engage in one-on-one meetings. The presentation will be webcast live and available for replay. For more details or to schedule a meeting, contact conference@sidoti.com. The webcast will also be accessible on ECD's website under Calendar Events.
ECD Automotive Design, known for restoring luxury Land Rovers and Jaguars, has entered a licensing agreement with Black Dog Traders to produce classic Toyota FJ SUVs. This agreement allows ECD to access Black Dog Traders' intellectual property, branding, and marketing support for a fee and royalties per sale. The collaboration aims to scale operations and expand ECD's market reach, particularly among classic car enthusiasts. ECD anticipates over 100% revenue growth in 2024 and expects its production backlog to extend into Q2 2025, maintaining high gross margins comparable to luxury brands like Ferrari. The company also plans to integrate its Generation Two EV kit into these classic vehicles.
ECD Auto Design has unveiled its latest project, 'Project Homecoming,' featuring a custom electric Land Rover Defender 110. This vehicle blends classic design with modern technology, showcasing a second-generation direct drive electric powertrain and versatile driving modes. Key features include fast charging, regenerative braking, and an array of luxury interior enhancements such as Garrett Caressa Coffee leather seats, a custom MOMO steering wheel, and a touchscreen infotainment system. The vehicle will be used in diverse terrains across Florida and Rhode Island, highlighting its rugged and refined capabilities.
ECD Automotive has unveiled Project Red Phoenix, a custom-built Defender 110, delivered to a new owner in Denver, Colorado. This high-performance SUV features a GM 6.2L LS3 V8 engine with 430 HP, a 6-speed manual transmission, and heavy-duty axles. Its rugged design includes a 6-point external roll cage, top-mounted spotlights, and a 10,000 lb. winch.
The interior boasts luxury with Corbeau Trailcat seats in brown leather, a MOMO custom steering wheel, and advanced electronic upgrades like a touchscreen infotainment system, JL audio speakers, and Apple CarPlay. The vehicle also offers safety features such as a backup camera and blind spot assistant.
ECD highlights its new online vehicle configurator, allowing users to design their custom vehicles from any device, marking a step forward in their industry-leading solutions.
ECD Auto Design, known for luxury builds, integrates cutting-edge EV powertrains into classic Mustangs, highlighting innovation and customization. The Mustang EV model offers a range of powertrain configurations, fast charging, cruise control, changeable drive modes, and an interactive touchscreen display.
ECD Auto Design (ECDA) announced its 2023 financial results, showcasing a 22.5% revenue increase to $15.1 million and a 150% rise in gross profit to $4.2 million. The company also achieved an adjusted EBITDA of $1.1 million and reiterated its 2024 revenue expectation of $33 million, a 118% jump over 2023. The recent acquisition of Brand New Muscle Car assets further expands ECD's product line. Despite a net loss of $(1.6) million, ECD remains optimistic about its profitable growth strategies, focusing on production efficiency, market consolidation, and branding in the luxury classic car sector.
FAQ
What is the current stock price of ECD Automotive Design (ECDA)?
What is the market cap of ECD Automotive Design (ECDA)?
What does ECD Automotive Design specialize in?
Where is ECD Automotive Design located?
What makes ECD's vehicles unique?
What recent achievements has ECD Automotive Design accomplished?
What engine options does ECD offer?
How does ECD engage with its clients?
What is ECD’s financial outlook?
How does ECD ensure the quality of its builds?
What is the ECD Beach Runner?
What are ECD's future plans?
