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Mercedes-Benz to boost stake in Aston Martin to 20%, lend it some tech

Daimler unit Mercedes-Benz is to lift its stake in Britain's Aston Martin to up to 20% by 2023, making it one of the struggling British carmaker's largest shareholders, Aston said on Tuesday. Aston Martin, popular for being James Bond's carmaker of choice, has suffered a torrid time since it went public two years ago, with its shares losing two-thirds of their value this year. The 107-year-old firm hired Tobias Moers, former CEO of Mercedes-AMG, as its new boss from August. Aston said the increase in Mercedes-Benz's stake, from 2.6% currently, would take place in several stages as part of a wider issue of 250 million shares at 50 pence each. The stock issued to the German group will have a maximum value of 286 million pounds ($372.7 million), it said. The deal will see an existing supply agreement between the two firms, in place since 2013, expanded to give Aston Martin access to key Mercedes' technology, including hybrid and electric drive systems. "We take another major step forward as our long-term partnership with Mercedes-Benz AG moves to another level, with them becoming one of the company's largest shareholders," said Aston's chairman and biggest shareholder Lawrence Stroll. The German firm will get the right to nominate one non-executive director to Aston Martin's board after its first shareholding increase, the London-listed firm said. Aston, which has started deliveries of its first sport utility vehicle, the DBX, said on Tuesday it swung into an adjusted core loss of 29 million pounds in the third quarter, versus a profit of 43 million pounds last year. Revenue in the period nearly halved to 124 million pounds, it said. Aston Martin is targeting annual capex of 250 million pounds to 300 million pounds per year between 2021 and 2025. It envisages production volumes of about 10,000 units, revenues of about 2 billion pounds and adjusted core profit of 500 million pounds by financial years 2024 or 2025.

Aston Martin rules out going downmarket

When Aston Martin sat alongside Jaguar under the Ford umbrella, the two had to be careful not to step on each other's toes. That kept the top end of Jaguar's sports and GT lineup at bay, and in the years since they parted company, Jaguar has steadily moved up-market with new versions of the XK and now with the new F-Type. But does that mean Aston Martin will in turn start offering cheaper models? "No, not at this stage," Aston's US chief Julian Jenkins told AutoGuide.com. "If there is an opportunity that we can sit comfortably within we will go after it." But for the time being, the V8 Vantage will remain the brand's entry-level model, coming in just under the $100K mark in base Vantage GT trim. Enthusiasts will remember the Cygnet, a version of the Toyota/Scion iQ which Aston reskinned and sold to customers looking for a more compact, economical mode of transportation without skimping on luxury. But that model never made it to North America, and lasted only a few years before being discontinued in 2013. More recently, Aston branched into the four-door market, first with the Rapide and now with the Lagonda Taraf. The Lagonda Taraf is a four-door luxury sedan initially launched in the Persian Gulf, but under consideration for additional markets. The company has been on and off the fence regarding launching a crossover SUV like the Lagonda concept it showcased at the 2009 Geneva auto show to lukewarm reception. If Aston were to proceed with such plans, it would be up against the likes of the upcoming Jaguar F-Pace, Bentley Bentayga and Maserati Levante.

This Aston Martin DBS has lived in a barn since 1986

For a moment, think of every major event that has occurred in your life since 1986 (if you're old enough, of course). Many birthdays have come and gone, children have grown to become adults, and we went from listening to "Rock Me Amadeus" to well... Justin Bieber. In a nutshell, things have changed quite a bit, but not for everything. In 1986, this Aston Martin DBS was rolled into a barn and locked safely away from prying eyes, and for the last 30 years, that is exactly where it has remained, until now. The dusty yet gorgeous Aston will cross the Silverstone Auctions block in May, where it's expected to fetch upwards of GBP60,000 (about $87,000). New in 1968, it would have cost about GBP4,470. RELATED: See More Photos of this Barn Find Aston Martin DBS Few words can describe the emotional weight of these barn find images, but "haunting" seems to fit. The Aston's three decades of shed isolation have written their story across its fastback bodywork, which now comes layered thick with dust, dirt, and a spot of bird dirt or two. Peer beneath the grime though and the DBS still wears its original coat of Mink Bronze paint. Inside the grand tourer's cabin, time has stood equally still, however the elements have been a bit less fair. The rich leather front seats and upholstery have grown grey and mottled with age. And while no one has sat in the back seat of this DBS for ages, it would appear critters haven't long given up roost there. Even so, it's utterly jaw-dropping to see in its untouched state. RELATED: Check Out James Bond's Actual 1964 Aston Martin DB5 According to the auction house, the Aston Martin was sold new on November 5th, 1968, to its first owner in Surrey, England, who held onto it for a little under two years. In April 1970, the DBS passed to its second owner—a 'Mr. Pasqua'—who relocated the car to the island of Jersey (the largest of the UK's Channel Islands). For the next 16 years it would accumulate a scant number of miles before getting tucked away in a barn on the island, and to this day, the odometer reads just 30,565 miles driven. Then again, how far can you really drive on an island that's only five miles wide and eight miles long. RELATED: This '66 Porsche Barn Find Looks Ravishing in Red As for its model history, the DBS was the rather radical successor to the storied and much more sweeping Aston Martin DB6.