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UK car output falls 14% in March, may get worse with no-deal Brexit

LONDON — British car output fell for the 10th month in a row in March, hit by a slowdown in key foreign markets, and the sector stands to suffer a lot more if the country leaves the European Union without a deal, an industry body said on Tuesday. Output tumbled by an annual 14.4 percent to 126,195 cars in March, the Society of Motor Manufacturers and Traders said. Exports, which account for nearly four out of every five cars made in Britain, were down by 13.4 percent. The SMMT said analysis it had commissioned predicted output would fall this year to 1.36 million units from 1.52 million in 2018, assuming London can secure a transition deal with the EU. If Britain has to rely instead on World Trade Organization rules for its trade with the bloc, which include import tariffs, output is forecast to fall by around 30 percent to 1.07 million units in 2021, returning to mid-1980s levels, the SMMT said. The forecasts were produced for SMMT by AutoAnalysis, a consultancy. Prime Minister Theresa May has secured a delay to the Brexit deadline until Oct. 31, giving her more time to try to break an impasse in parliament over the terms of Britain's departure from the EU. Foreign minister Jeremy Hunt traveled to Japan earlier this month to try to persuade the Japanese government and Toyota, which has a big presence in Britain, that London was determined to avoid a no-deal Brexit. "Just a few years ago, industry was on track to produce 2 million cars by 2020 — a target now impossible with Britain's reputation as stable and attractive business environment undermined," SMMT chief executive Mike Hawes said. "All parties must find a compromise urgently so we can set about repairing the damage and diverting energy and investment to the technological challenges that will define the future of the global industry." (Reporting by William Schomberg, editing by David Milliken)

Aston Martin makes RapidE electric car a limited edition after LeEco pulls out

Aston Martin was forced to scale back production plans for its first electric model after cash-strapped investment partner LeEco pulled out of the project, Chief Executive Andy Palmer told Reuters on Monday. The result, though, may be an even more exclusive car, aimed at customers who consider Tesla's top of the range $130,000 Model S to be a little too run of the mill. Aston Martin will build only 155 of its RapidE, about a third of the initial plan, and lean more heavily on Formula One engineering specialist Williams after the withdrawal of Chinese TV and smartphone vendor LeEco, Palmer said. The setback and Aston's response underscore the challenges and risks niche carmakers face as they scramble to address future demand for electrification from consumers and regulators. While the privately held Aston Martin brand benefits from the endorsement of fictitious spy James Bond, it lacks the backing of a large automotive parent that many rivals enjoy. "We've decided to make this car rare, which will obviously tend to push the price higher," Palmer said. "Aston Martin now plans to proceed independently, funding further development of RapidE by ourselves." Palmer agreed to be interviewed after sources told Reuters Aston Martin's partnership with LeEco had unraveled. Unveiling the alliance in February last year, LeEco and Aston pledged to launch an all-electric version of the Rapide S sedan in 2018. But the Chinese conglomerate has since slashed its electric car investments, including its U.S. startup Faraday Future's planned $1.3 billion factory in Nevada. Some Faraday suppliers, including seat maker Futuris and media provider Mill Group, have sued the company for non-payment, according to court records. Spokesmen for LeEco and Faraday did not respond to requests for comment on the end of the Aston partnership. Aston Martin declined to discuss its partner's business. $250,000 PRICE TAG Aston returned to profit in the first quarter, a decade after it was sold by Ford. Now owned by private equity groups Investindustrial and Kuwait's Investment Dar, the company is rolling out a new model each year under a taut recovery plan drawn up by Palmer, who joined from Nissan in 2014. Without LeEco's backing, the sports carmaker, based in Gaydon, Warwickshire, is pushing ahead as sole investor in the electric car, after paring down production and pushing back the launch date to 2019. The plan won board approval on June 21.

Aston Martin Vantage with a manual transmission due next year

In 2016, Aston Martin CEO Andy Palmer told Car and Driver that that Aston Martin would continue to offer manual transmissions and will always have at least one hand-shaker in the lineup. For the keepers of the dying manual light, it's been a long wait since the V12 Vantage S went out of production last year, but dawn will break over Gaydon in summer 2019. Aston Martin chief engineer Matt Becker told Road & Track at the Goodwood Festival of Speed that there'd be a stick shift in the V8 Vantage by "this time next year." That might seem like a long wait when there are already prototypes on the road, but the small company has a large engineering job. The Mercedes-AMG 4.0-liter twin-turbo V8 sitting in the Vantage's engine bay has never been paired with a manual gearbox, so Aston Martin has to create the software and the driveline hardware from scratch to make it work. On top of that, the company wants to make sure the package delivers the thrills the row-your-own crowd seeks. Becker said the car won't be a pushover, tuned so that "It reminds you that you have to know how to drive." Depending on uptake, one could hope that the DB11 using the same Mercedes-AMG engine would also undergo a manual transformation. Road & Track didn't get the details on what kind of transmission we could expect. We figure the options are a traditional six-speed, a Corvette-style seven-speed, a Porsche-style seven-speed, or the dogleg seven-speed used last in this year's V12 Vantage V600, of which there were only 14 units. Speculation on product plans puts the manual transmission first in the V8 Vantage pipeline, followed by a Vantage roadster and a V12 Vantage. Other models will certainly fill out the portfolio, Becker saying this first Vantage "is the starting point." Having applied the hardcore AMR moniker to the Valkyrie AMR Pro, DB11 AMR, and Rapide AMR, the Vantage seems a lock for the same extreme makeover. Related Video: