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Aston Martin will make a profit for the first time since 2010

LONDON — Aston Martin is on course to post its first annual pre-tax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance. Pre-tax profit reached 22 million pounds ($29 million) in the first nine months of 2017, reversing a loss of 124 million pounds in the same period in 2016, Aston said on Wednesday. "Our strong financial performance and continued profitability reflect the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year," Chief Executive Andy Palmer said. Asked on Monday whether the firm would be in the black this year, Palmer told Reuters: "It's our intention to be." Aston Martin, which is mainly owned by Kuwaiti and Italian private equity firms, last posted a profit in 2010. Its losses then grew, partly due to lack of new models, a high-profile recall and an extended period without a chief executive. Since Palmer's appointment in 2014, the firm has pursued a turnaround plan designed to boost its model lineup, quadruple volumes and produce its first SUV at a new plant in Wales, setting up a possible stock market flotation. Volumes rose 65 percent to 3,330 cars in the first nine months of the year, prompting the firm to raise its full-year guidance to expect core earnings of at least 180 million pounds on revenue of over 840 million pounds. Third-quarter profit stood at 0.8 million pounds, reflecting a quieter period across the car sector when demand falls as people take holidays and some customers prefer to wait until after the vacation period to have their cars delivered. On Tuesday, the firm launched its new Vantage model, which will take its output to 7,000 sports cars in 2019, its highest level in a decade. Related Video:

Aston Martin wants to be the Hermes of the car world

Aston Martin doesn't want its wealthy potential customers to perceive the brand as just another sports car maker. The company wants to transform those perceptions so that buyers see its products as luxury goods on par with high-end accessories. If this change can successfully bring in more cash, the business could consider an initial public offering in the coming years. "We seek to position ourselves as the automotive equivalent of Hermes, not as the counterpart of Ferrari." CEO Andy Palmer explained the change to Bloomberg, referencing the boutique French brand. The desire to change buyer impressions comes as Aston Martin pivots away from a focus predominantly on sports cars and more towards high-performance luxury vehicles. For example, the company already has sedans in the lineup like the Rapide and Lagonda Taraf. The future range will also reportedly include an electric Rapide and another Lagonda. The production version of the DBX crossover (concept above) will add one more segment around 2019. However, Aston Martin won't completely abandon coupes because the DB11 will arrive in 2016, and a new Vanquish and Vantage will eventually follow. For Aston Martin to have a future, Palmer believes the company needs to look in new directions, especially with models like the DBX. According to Bloomberg, execs there hope that appealing to more customers could help the business see a net profit in the next three years, which hasn't happened since 2010. To save even more money going forward, the business recently cut 15 percent of its workforce mostly from white collar employees. Featured Gallery Aston Martin DBX: Monterey 2015 View 16 Photos News Source: BloombergImage Credit: Copyright 2015 Drew Phillips / AOL Aston Martin Crossover Luxury Performance Sedan aston martin rapide aston martin lagonda aston martin dbx

Aston Martin and Airbus reveal ACH130 AM helicopter collaboration

The Aston Martin DBX is one of the brand's several recent forays into novel territory. In November, the carmaker unveiled a motorcycle co-created with Brough Superior, the AMB 001. A month later, the brand teased a liaison with Airbus Corporate Helicopters with the ACH130 model at its heart. Here we have the result after 12 months of planning, the ACH130 Aston Martin Edition. The exterior lines of the six- or seven-seat chopper most often used for "sightseeing services, charter operators, and emergency medical services" are unchanged. Aston Martin's creative hand came in composing four exterior color combinations and an interior embellished with the carmaker's hallmarks. The pictured ACH130 AM wears livery in Stirling Green that fades into Jet Black underneath, accented with Skyfall Silver cowlings. The remaining three choices use Xenon Grey, Arizona, or Ultramarine Black as their primary colors. Seats profiled to recall Aston Martin road cars can be dressed in hides of colored Oxford Tan, Pure Black, Cormorant, or Ivory. Brogue detailing decorates the strip of Pure Black ultra-suede running down the center of the front seatbacks, stopping at hand-crafted leather satchels affixed to the lower portions. The rest of the interior is trimmed in matching leather and Pure Black ultra-suede, with embossed Aston Martin wings "tastefully positioned throughout the cabin," and a plaque inscribed with the edition number of the particular ACH130 AM. The bird can be ordered as of now, with deliveries to begin this quarter. Aston Martin and Airbus didn't release the price, but a standard ACH130 costs $3.3 million before frills. That makes the ACH130 AM the most wallet-friendly offering among Airbus' carmaker collaborations; the Mercedes-Benz ACH145 costs about $8.5 million, the ACH160 developed with Peugeot's design consultancy requires roughly $18 million. Related Video: