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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, known for bespoke vehicle restorations, has launched a new product line featuring the classic Toyota FJ retromod. This announcement marks a significant milestone for ECD, blending the rugged heritage of the iconic Toyota FJ with modern luxury and innovation. The first FJ models are set to begin production in late Q3 2024, with deliveries expected in Q1 2025. Each FJ will feature customizable options, including a Chevrolet 6.2L V8 engine, upgraded suspension, and hand-stitched leather seats. This expansion aligns with ECD's mission to create one-of-a-kind luxury vehicles, leveraging their expertise from building Defenders and Range Rovers.
ECD Auto Design (NASDAQ: ECDA), the largest Land Rover and Jaguar restoration company, announced its financial results for Q1 2024, highlighting a 207% revenue increase to $8.3 million. Gross profit surged to $2.5 million with a margin expansion to 30.1%. However, net loss widened to $1.6 million compared to $1.1 million the previous year. Adjusted EBITDA improved to $0.4 million. Operating expenses rose due to growth and public company costs. The company acquired Brand New Muscle Car and a licensing agreement with Black Dog Trading. ECD reaffirmed its full-year 2024 revenue guidance at $33.0 million.
On June 25, 2024, ECD Auto Design unveiled its new Beach Runner 2, a luxurious and stylish vehicle targeting beach and coastal living enthusiasts. Based on a Land Rover Defender 110 platform, the Beach Runner 2 features a striking pink Porsche Frozen Berries gloss exterior, pink parfait leather interiors with pink plaid wool inserts, and a formidable GM 455 HP 6.2L LT1 engine. This model includes premium upgrades such as power retractable side steps, a 21-in-1 accessories carrier, integrated air compressor, and detachable portable sound system. ECD continues to expand its inventory for immediate delivery, solidifying its position as a leader in custom luxury vehicle restoration.
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.
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