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Aston Martin sues dealer over $3.5 million Valkyrie supercar

Aston Martin Lagonda Global Holdings said it’s suing a company affiliated with one of its dealers in Switzerland, alleging that it withheld customer deposits collected for the $3.5 million Valkyrie supercar. The automaker accused Nebula Project AG of failing to pass some deposits taken from customers along to Aston Martin and said it has terminated an unconventional commercial arrangement its previous management team entered in 2016. Under the now-dissolved deal, Nebula had agreed to fund development of the Valkyrie and other mid-engine cars in exchange for royalty payments. As a result of terminating the agreement with Nebula, Aston Martin is no longer liable for any potential royalty payments, which could have been “significant” over time, the carmaker said in a statement Tuesday. The company also cut off its dealer arrangements with AF Cars AG, the company that operates Aston Martin St. Gallen in Switzerland, whose board members manage Nebula. A spokeswoman for the cantonal prosecutorÂ’s office in St. Gallen said they are expecting a lawsuit to be filed but hadnÂ’t received it as of noon Tuesday. A spokesman for Aston Martin St. Gallen was not immediately available to comment, according to a receptionist. The canton of St. Gallen in eastern Switzerland is home to just 510,000 people but generates gross domestic product of almost 39 billion Swiss francs ($42 billion), making it a natural fit for wealthy fans of supercars. The Valkyrie, which Aston Martin expects to start shipping in the second half of the year, is intended to compete with mid-engine models made by the likes of Ferrari and McLaren. While Aston Martin believes the net impact of its actions against Nebula will be positive over time, itÂ’s expected to reduce cash flow and earnings before interest, taxes, depreciation and amortization by as much as 15 million pounds this year. The automakerÂ’s shares traded down 1.9% as of 11:50 a.m. in London, paring an earlier decline of as much as 4.9%. Valkyrie customers will still receive their cars as scheduled, Aston Martin said, despite the company not having received all the deposited funds. The company said it will take deposits for special vehicles directly from customers going forward instead of through dealers. Aston Martin racked up significant losses after going public in 2018 and has spent the last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll, who took over as chairman.

Aston Martin CEO plans for seven-vehicle lineup

Aston Martin which has survived for the last hundred or so years with a remarkably tiny vehicle lineup, is now making preparations for its next seven vehicles, according to the company's CEO, Andy Palmer. The CEO elaborated on the company's "Second Century Plan" explaining that it'd feature a three-pillar product road map that is apparently "crystal clear." Pillar one, sports cars, should surprise no one. The three-pronged lineup will continue, with the new DB11 sandwiched between the Vantage and Vanquish replacements. But don't expect more than three Aston sports cars – Palmer shut down the idea of a car below the Vantage. Next, we have "saloons," which means sedans, if you prefer coffee to tea and Hershey's to Cadbury. This is trickier, of course. In April of 2015, we reported that the Rapide sedan would die and that the DBX would be its replacement. But in October, we reported that the Rapide name may live on as an all-electric model. That same April report also claimed we'd see a Lagonda-badged sedan, which now seems like a virtual certainty following the success of the rare Lagonda Taraf. The tea leaves of pillar three – crossovers and "specials" – are the most difficult to read. We know the rakish DBX crossover is coming. But we're wagering that Aston will complement its CUV/SUV lineup with something more traditional that could combat stuff like the Bentley Bentayga. But rather than badging it as an Aston, we think it's more likely this hypothetical vehicle would be badged as a Lagonda. Here's why. The last thing we wrote about a Lagonda SUV came in July 2014, when reports indicated that plans for such a vehicle had been abandoned. But with the explosion in CUVs at virtually every price point, it seems impossible for Aston Martin to ignore the segment. This would give the company a two-pronged approach. We doubt Aston would reestablish the Lagonda brand to just sell a single vehicle. What about the specials, though? That sounds like low volume and high performance to us, which could mean a One-77 successor. Aston has gone on record as saying it'd be open to aerodynamic god Adrian Newey penning a hypercar design. In fact, regarding a Newey-designed Aston, Palmer himself said, "There is rarely smoke without fire." If this were to ever happen, though, we're betting it won't be for some time. The DB11, Vantage/Vanquish replacements, and DBX will be the first new vehicles from the brand, Palmer indicated.

Jay Leno drives James Bond's new Aston Martin DB10

With only ten examples made exclusively for use in the latest James Bond movie, the Aston Martin DB10 is exceedingly rare. So we counted ourselves as fortunate to have seen one up close at Pebble Beach this past summer, and another on a recent visit to the UK. But Jay Leno has done one better. For the latest episode of Jay Leno's Garage, the former talk show host and consummate car collector had Aston's design chief Marek Reichman stop by with one of the DB10s built for the filming of Spectre, which will hit theaters in just a few weeks. Reichman and company actually let the denim-clad celebrity drive the thing on the open roads around his warehouse. That's something that only a few people (namely Daniel Craig and his stunt doubles) usually get to do. Fortunately, Leno being the world-class showman that he is, he and his crew caught the whole experience on video, and you can see the results in the sixteen-minute installment above. Of course this isn't the first Aston that Leno has had by the garage and driven. Nor is it even the rarest, for that matter, having previously hosted the one-of-a-kind CC100 speedster concept almost exactly two years ago. But as far as harbingers of things to come, the DB10 will likely go down in history as a turning point for the company, which is on the verge of launching a whole new lineup based on new architecture and components and with a new design language previewed by the vehicle you see here. Related Video: