2001 Aston Martin Db7 Vantage Coupe on 2040-cars

Auto blog

Aston Martin shares plunge to new low following half-year loss

LONDON — Shares in Aston Martin plunged 17% to a post-flotation low on Wednesday after the luxury British carmaker slumped to a half-year loss, the latest automotive firm to be hit by falling demand in Europe. Aston Martin, best known as James Bond's favorite marque, has been undergoing a turnaround plan since Chief Executive Andy Palmer took over in 2014, designed to renew and boost its model line-up and move into new segments. The plan led to an autumn 2018 stock market flotation. But its shares have since fallen by around three quarters from their 19 pounds float price to below 5 pounds, hit most recently by the group's weak performance in Europe, the Middle East and Africa, where half-year demand fell by nearly a fifth. The group posted a pretax loss of 78.8 million pounds in the six months through June from a 20.8 million pound profit in the first half of 2018. Its shares were down 17% at 4.71 pounds by 0748 GMT. "We are disappointed that our projections for wholesales have fallen short or our original targets, impacted by weakness in two of our key markets as well as continued macro-economic uncertainty," Palmer said. Overall wholesale demand grew by 6% in the first six months as the group posted strong increases in the Americas and Asia, but a decline in Britain and the rest of the continent prompted the carmaker to cut its full-year forecast. Aston has also been hit by expansion costs as it builds a new factory in Wales to make its first sport utility vehicle, and a lower average selling price. The company said that if it requires some additional financing it would pursue the funds from sources such as the debt markets. The global car industry has been hit by weakening demand in China and a drop in demand for diesel vehicles in Europe, as well as the cost of electrification. Nissan reported plunging profits last week and said it would undertake its biggest restructuring plan in a decade, axing nearly a tenth of its workforce. But 106-year old Aston also faces the risk of a disorderly Brexit disrupting its wholly British production, as delays at ports due to new bureaucracy could slow down the movement of vehicles and components. "We do not want a no-deal Brexit because of the disruption that causes to issues at the border," said Palmer.

Sebastian Vettel signs with Racing Point for the 2021 F1 season

LONDON — Four-time Formula One champion Sebastian Vettel will drive for Racing Point starting next season. The team, which will be renamed Aston Martin, announced the move Thursday, a day after driver Sergio Perez said he was on his way out. The team said Vettel has signed for the 2021 season “and beyond" but did not reveal the length of the contract. “The signing of Sebastian is a clear statement of the teamÂ’s ambition to establish itself as one of the most competitive names in the sport," the team said in a statement. “As a four-time world champion, Sebastian brings a fresh mindset to the team." One of the most successful drivers in F1, Vettel is leaving Ferrari at the end of this season after he was not offered a new contract. He will be replaced by McLaren driver Carlos Sainz at Ferrari next year. Vettel has won 53 grand prix races, a tally only surpassed by Michael Schumacher and Lewis Hamilton. He won four consecutive titles with Red Bull from 2010-13 and joined Ferrari in 2015 with the aim to win another. But he never had a car really capable of challenging Mercedes during his stint with the Scuderia, where he lost his No. 1 status as teammate Charles Leclerc came to prominence. “ItÂ’s a new adventure for me with a truly legendary car company," Vettel said. “I have been impressed with the results the team has achieved this year, and I believe the future looks even brighter. I still have so much love for Formula One and my only motivation is to race at the front of the grid." Currently fourth in the constructors' standings, Racing Point was handed a 400,000 euro ($470,000) fine and docked 15 points last month for copying a Mercedes design for its brake ducts. The team, however, was allowed to continue to use the offending components this season. Racing PointÂ’s other driver is Lance Stroll, the son of co-owner Lawrence Stroll. Motorsports Aston Martin Ferrari F1 Sebastian Vettel

Aston Martin crafts one-off equestrian-themed DB9 Volante

Ask most people what kind of cars Aston Martin makes and they'll probably tell you it makes sports cars. But it doesn't. No, Aston Martin actually makes luxury GTs that focus at least as much on fine craftsmanship as they do on outright performance. In other words, any Aston Martin – from the 'entry level' V8 Vantage to the flagship Vanquish – packs an unrivaled attention to detail. But for those looking for that extra measure of exclusivity and intricacy, there's Q by Aston Martin. And this is its latest project. Similar to the Ferrari Tailor Made program, Lamborghini Ad Personam, Porsche Exclusive or Rolls-Royce Bespoke, Q by Aston Martin is dedicated to meeting the specific needs of individual customers who want their luxury GT crafted just so. We've seen several specially crafted and eye-catching Q projects at auto shows around the world, created to showcase what the division can do. This one was commissioned by a dealership in Los Gatos, CA. Starting with a DB9 Volante, the Q division gave it an equestrian theme with saddle tan leather with diamond-quilted ivory Alcantara trim, light burlwood veneer, specially-embroidered horse-head logos and saddle-style luggage fitted to the rear console. The exterior is finished in Ashen Blonde metallic with ten-spoke diamond-turned wheels in satin champagne and Howlite stone-inlaid logos. This one-off DB9 will be auctioned off at the Menlo Charity Horse Show, held August 5-10 at the Menlo Circus Club in Atherton, CA, with proceeds to benefit the Vista Center for the Blind & Visually Impaired.