2001 Aston Martin Db7 Vantage Coupe on 2040-cars

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Aston Martin to cut up to 500 jobs to reduce costs

LONDON — British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come just days after Aston Martin's second-largest investor reduced its stake in the company, and a week after it confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer. The 107-year old firm said the job losses reflected lower than originally planned production volumes and improved productivity across the business. An employee and trade union consultation process will be launched in the coming days. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018. Last month it posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "The measures announced today will right-size the organizational structure and bring the cost base into line with reduced sports car production levels, consistent with restoring profitability," it said. It said its first sports utility vehicle (SUV), the DBX, which is key to boost volumes and appeal to new buyers including more women, remains on track for deliveries in the summer and has a strong order book. Aston Martin is also reducing costs and removing non-critical expenditure in other areas, including contractor numbers, site footprint, marketing and travel. It said the restructuring is expected to deliver total annual savings of about 38 million pounds ($47.6 million). Restructuring costs are expected to be about 12 million pounds. Shares in Aston Martin, down 78% over the last year, closed Wednesday at 68.9 pence, valuing the business at 1.05 billion pounds.  

The mood at this year’s Paris Motor Show: Quiet

The Paris Motor Show, held every other year in the early fall, typically kicks off the annual cavalcade of automotive conclaves, one that traverses the globe between autumn and spring, introducing projective, conceptual and production-ready vehicle models to the international automotive press, automotive aficionados and a public hungry for news of our increasingly futuristic mobility enterprise. But this year, at the press preview days for the show, the grounds of the Porte de Versailles convention center felt a bit more sparsely populated than usual. This was not simply a subjective sensation, or one influenced by the center's atypically dispersed assemblage of seven discrete buildings, which tends to spread out the cars and the crowds. There were not only fewer new vehicles being premiered in Paris this year, there were fewer manufacturers there to display them. Major mainstream European OEM stalwarts such as Alfa Romeo, Fiat, Nissan and Volkswagen chose to sit out Paris this year, as did boutique manufacturers like Bentley, Aston Martin and Lamborghini. This is not simply based in some antipathy on the part of the German, British and Italian manufacturers toward the French market — though for a variety of historical and societal reasons that market may be more dominated by vehicles produced domestically than others. Rather, it is part of a larger trend in the industry. Last year, Mercedes-Benz announced that it would not be participating in the flagship North American International Auto Show in 2019 — and that it might not return. Other brands including Jaguar/Land Rover, Audi, Porsche, Mazda and nearly every exotic carmaker have also departed the Detroit show. Some of these brands will still appear in the city in which the show is taking place, and host an event offsite, to capitalize on the presence of a large number of reporters in attendance. And even brands that do have a presence at the show have shifted their vehicle introductions to the days before the official press opening in an attempt to stand out from the crowd. In many ways, this makes sense. With an expanding number of automakers, with diversification and niche-ification of models and with wholesale shifts that necessitate the introduction of EV or autonomous sub-brands, there is a growing sense that, with everyone shouting at the same time, no one can be heard.

Aston Martin V12 Speedster will ditch roof and windshield

If your hunger for supercars with no windshields wasn't satiated with the McLaren Elva, we have good news. Aston Martin has one of its own to be revealed later this year. It's simply called the Aston Martin V12 Speedster, and sounds like it will be entertaining. Though the car hasn't been fully revealed, the teaser image gives us a good look at the profile. The nose is pointy with a huge grille like the Aston Martin Vantage. The short deck with tall rear spoiler is also Vantage-esque. Between the wheels appear to be some very aggressive air vents and character lines. And of course, there's no roof or windshield. There are cowls behind the seats, which are fitting since Aston says this car is inspired by the Le Mans-winning 1959 DBR1 race car and the 2013 Aston Martin CC100 concept car, both open sports cars. Powering the V12 Speedster is, obviously, a V12 engine. It's a version of the twin-turbocharged 5.2-liter that's been used in different versions of the DB11. In the Speedster it will produce 690 horsepower and 516 pound-feet of torque, which is less than the 715 horsepower and 664 pound-feet of torque in the monster DBS Superleggera. The engine is matched to an eight-speed ZF automatic transmission and rear-wheel drive. Only 88 V12 Speedsters will be built, and Aston is taking orders now. Completed cars will be delivered in early 2021. Pricing hasn't been announced, but we doubt that will be an issue for those ordering one. Related Video: