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Aston Martin skids in stock market debut

LONDON — Shares in luxury automaker Aston Martin fell as much as 6.5 percent on their market debut in London on Wednesday as investors and analysts raised concerns over Aston's ability to deliver an ambitious rollout of new models. The company, which last year made its first profit since 2010 and has gone bankrupt seven times, had priced its shares at 19 pounds each, giving it a market capitalization of 4.33 billion pounds ($5.63 billion). The shares fell to as low as 17.75 pounds. Aston Martin has plans to launch a new model every year from 2016 to 2022. "(It) has very aggressive growth plans. The execution of that growth needs to be flawless — nothing eats cash more than a car company when the cycle turns. There is concern that it's more cyclical than the commentary has been," said James Congdon, managing director of cashflow returns specialist Quest. "The banks have done a good job for their client — but there's no bounce." Aston is going all-in Aston Martin — full name Aston Martin Lagonda Global Holdings Plc — expects to produce around 7,100 to 7,300 cars in 2019, and 9,600 to 9,800 cars in 2020. It aims to increase production to 14,000 cars in the medium term, helped by new models and improving its manufacturing process. The company is investing all of its cashflow to try to achieve this, leaving nothing for dividends or paying down debt. "In terms of execution risk — this is what I've done for all of my career. I'm an engineer: we mitigate risk," Chief Executive Andy Palmer, who has led a turnaround plan at the company since 2014, told Reuters. Palmer played down risks to the business from Britain leaving the European Union, even as other car manufacturers step up warnings over a disorderly Brexit. He said Aston Martin was "relatively well insulated" from the effects of Brexit because Europe is not its biggest market and it may actually benefit from exporting with a cheaper pound. However, 60 percent of its parts are imported from the EU and will be hit by tariffs if there is no trade deal. "Obviously we'd all prefer no tariffs to be frank, no doubt, but the industry has to learn to adapt, and it always has adapted to changes," Palmer said. Valuation In 2017, Aston Martin had adjusted earnings before tax interest, depreciation and amortization (EBITDA) of 206.5 million pounds, up from 100.9 million pounds in 2016.

Aston Martin previews new 5.2-liter twin-turbo V12

Depicted in the teaser video above is Aston Martin's new 5.2-liter twin-turbocharged V12. Beyond those basic specifications, Aston isn't saying much about this new engine or what it will power, but it does promise that the new engine will debut sometime this year. The bulk of Aston Martin's current lineup – basically everything but the V8 Vantage – is powered by a 6.0-liter V12 that dates back to the DB7 Vantage that debuted in 1999. Only where that model produced 420 horsepower, the latest version in the Vantage GT12 produces nearly 600 hp. Which just goes to show how much Aston has been able to do with the aging engine, but everything has its limits, and all good things must come to an end. While the switch to forced induction may mean a less revvy engine, it ought to deliver more torque (as well as lower emissions and fuel consumption). Aston has a new partnership with Mercedes-AMG that is slated to supply the British automaker with a twin-turbo V8. But the German outfit has considerable expertise with twin-turbo V12s as well. The production facility that recently relocated from Affalterbach to Mannheim produces the 6.0-liter twin-turbo V12 that motivates Mercedes' own SL65 roadster, G65 sport-ute, and S65 sedan, coupe, and cabrio, as well as the version for the Pagani Huayra.

'Top Gear' takes us inside the Aston Martin Project 003

"Top Gear" magazine's Jack Rix might be the ideal lad to lock in a room with a cool car and a camera. After taking us on tours of the Mercedes-AMG One and Honda Urban EV concept, he's wandered into another anteroom with the Aston Martin Project 003 and Vanquish. When we saw the mid-engined coupes at the Geneva Motor Show, it looked like Aston Martin programmed the Valkyrie family's design language to "softer" on the RMB-003 and "softest" for the Vanquish. We wanted more details. Cue Mr. Rix. The deputy editor fills us in on trivia like the combined weight of the Project 003 headlights and taillights being less than the weight of a single DB11 headlight. He also shows us how the NASA-aided FlexFoil wing works, and where the potential rear-view cameras would be mounted. Then he gets inside an interior that's "a bit more civilized" than that on the Valkyrie for not putting hip level beneath knee level. However, notice that here, too, the seat is built into the carbon fiber tub — the end of the seat bolster is flush with the footwell. And check out those vents that triple as speakers and ambient lighting. Rix can only walk around the Vanquish, since that car's not due until 2022, a year after the Project 003. Nevertheless, there are plenty of Easter eggs to share, like how design elements from front-engined Aston Martins have been integrated throughout the mid-engined bodywork. As a bonus feature, Aston Martin has taken a separate look at Valkyrie development through the eyes of high-performance test driver Chris Goodwin. The racer explains how he's using the Red Bull Formula 1 team's simulator to tune the Valkyrie road car's handling, active suspension, and aerodynamic systems. Goodwin was McLaren Automotive's test driver and worked on the Speedtail, so it could mean something when he says of the Valkyrie, "It's going to be a substantial gap between this car and what's currently available on the market."