2007 Aston Martin Db9 Volante on 2040-cars

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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 to cut 15 percent of workforce

Aston Martin has announced it will slash nearly 300 jobs, or about 15 percent of its total workforce, as part of a cost-cutting bid. The changes aren't going to come on the factory floor, though. Instead, according to the Unite trade union, the majority of firings will involve white collar employees – administrators, managers, and the like – at the company's headquarters in Gaydon, England, Bloomberg reports. In an emailed statement to the business outlet, Aston Martin said eligible employees will be offered early retirement options. While Aston said there'd only be 295 employees released, Unite put the number at no more than 314. "Collective consultation with employee representatives, including Unite, has begun and the company is working with them to minimize the risk of compulsory redundancies," the union told Bloomberg. Aston Martin added that this move will have no impact on the company's production figures, although it's unclear what it could mean for future vehicles, like the production DBX and upcoming DB11. Related Video:

Airbus and Aston Martin tease helicopter collaboration

Aston Martin is working on a new partnership in a different part of the transportation sector. This week, the British company known for its beautiful car designs announced a collaboration with Airbus Corporate Helicopters (ACH) that is set to launch in 2020.  ACH and Aston Martin are working on a helicopter, and this short video is the first official teaser of the partnership. The project has been under design development for the past 12 months, and Aston Martin Lagonda Vice President and Chief Creative Officer Marek Reichman said the project will be a blending of automotive and aeronautical design principles.  Although the teaser did not give away much info about the helicopter, the name of the video might. It's titled, "ACH130 AM TEASER 16x9." The 16x9 part is just the dimensions of the video, but ACH130 AM likely indicates a nod to the Airbus H130 helicopter, which is most often used for "sightseeing services, charter operators, and emergency medical services, among others." It comes in six- or seven-passenger configurations.  This is not the first time Airbus has collaborated with an automaker on a helicopter design. Peugeot previously worked with Airbus on an H160. The ACH130 AM debuts in the French Alps on January 3, 2020. And this is not the first time Aston has collaborated on transportation beyond a car. Last year, Aston put its luxury imprint on a submarine. Auto News Design/Style Aston Martin