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Aston Martin posts deep quarterly loss as coronavirus pandemic dents sales

LONDON — Aston Martin posted a deep first-quarter loss after sales dropped by nearly a third due to the impact of the coronavirus crisis, though the luxury car maker said production of a crucial sport utility vehicle was on track. Aston Martin, popular for being James Bond's carmaker of choice, suffered a torrid time since it floated in October 2018, seeing its share price tumble from 19 pounds to around 40 pence. Dire conditions forced the company to bring in Canadian billionaire Lawrence Stroll to invest in the firm, while Aston said it will continue to review future funding and refinancing options to boost liquidity. The pandemic hit demand and forced factories around the world to suspend production. However, Aston resumed operations as its Welsh plant last week but not at its other site located in southern England as yet. "We were obviously fairly significantly hit by COVID-19, starting with China in January but more clearly in what we saw as it came across towards Europe and the United States," Chief Executive Andy Palmer told Reuters. The company posted a pre-tax loss of 119 million pounds ($145 million), compared with a loss of 17 million pounds ($21 million) last year, and said it could no longer provide an annual outlook. Its full-year loss in 2019 came in at 104 million pounds. Shares were down 5% at 36 pence, as of 07:35 GMT on Wednesday. The carmaker said production of its DBX SUV, which is key to boost volumes and appeal to new buyers including more women, was on track and had a strong order book. The luxury brand, which has seen core retail sales slump by an annual 31%, has furloughed staff, introduced additional safety measures and cut the pay of its senior management as part of measures to handle the crisis caused by the pandemic. Stroll, who hopes to pursue a turnaround partly by sharing Formula One technology with the firm's range of road cars, leads a consortium that took a 25% stake in the company earlier this year as part of a capital raise worth 536 million pounds. "Given the ongoing uncertainties, as is prudent, the company continues to review all future funding and refinancing options to increase liquidity," the company said on Wednesday.   (Reporting by Costas Pitas; Editing by James Davey and Sherry Jacob-Phillips)

Aston Martin DBS GT Zagato previewed in renderings

Last fall, Aston Martin and Zagato announced that they would be building special continuation versions of the DB4 GT Zagato to celebrate the Italian design house's 100th anniversary. But the two companies wouldn't stop there, as each DB4 would come with an yet-to-be-revealed DBS variant. Now the companies have released detailed renderings and information about what is officially called the Aston Martin DBS GT Zagato. The car will be based on the hottest DB11 model, the DBS Superleggera. That means it should have a twin-turbo V12 making at least 715 horsepower and 664 pound-feet of torque with all of that going to the rear wheels through an eight-speed automatic. Outside of the bones, the DBS GT Zagato will have a thoroughly revised exterior. As shown in the photos, the front grille is one piece and is more reminiscent of what's found on the smaller Aston Martin Vantage. An exaggerated double-bubble roof is a highlight, and it stretches out to the pointy tip of the tail. The hood echoes the double bubble in its center. The taillights have an afterburner shape that Zagato has favored lately. Neither Aston nor Zagato has said when we'll see the actual car, but we expect it will be shown sometime this year. Buyers will start getting their DBS GT Zagatos at the end of 2020, a year after their DB4 GT Zagato continuation cars are delivered. As a reminder, the price for each of the 19 pairs of cars is 6 million pounds, or $7.93 million at current exchange rates and before taxes.

Aston Martin DB10 spied in action on James Bond Spectre set

Spectre, the next film in the James Bond franchise, is due for release on November 6 of this year. That means there's filming happening right now all over Europe as scenes are stitched together, and one of them involves the Aston Martin DB10 shuffling through maneuvers at Blenheim Palace in Oxfordshire, England. Our guess is that Bond has become an unwelcome guest at a fancy event – there's a Porsche 959 and a Bugatti EB110 in the courtyard – which is why he is forced to make one of his quick-reversing escapes under fire. While that was being captured last week, the Spectre production crew put together another behind-the-scenes clip from filming in Austria, which gives us a look at the Range Rover Sport SVR and Land Rover Defender "Bigfoot" crushing it up some snowy mountain passes. That clip is below. Yes, we're excited. News Source: L Verse Studios via YouTube, Motor Trend TV/Movies Aston Martin Land Rover Coupe SUV Luxury Off-Road Vehicles Performance Videos spectre aston martin db10