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Aston Martin skids in stock market debut

LONDON — Shares in luxury automaker Aston Martin fell as much as 6.5 percent on their market debut in London on Wednesday as investors and analysts raised concerns over Aston's ability to deliver an ambitious rollout of new models. The company, which last year made its first profit since 2010 and has gone bankrupt seven times, had priced its shares at 19 pounds each, giving it a market capitalization of 4.33 billion pounds ($5.63 billion). The shares fell to as low as 17.75 pounds. Aston Martin has plans to launch a new model every year from 2016 to 2022. "(It) has very aggressive growth plans. The execution of that growth needs to be flawless — nothing eats cash more than a car company when the cycle turns. There is concern that it's more cyclical than the commentary has been," said James Congdon, managing director of cashflow returns specialist Quest. "The banks have done a good job for their client — but there's no bounce." Aston is going all-in Aston Martin — full name Aston Martin Lagonda Global Holdings Plc — expects to produce around 7,100 to 7,300 cars in 2019, and 9,600 to 9,800 cars in 2020. It aims to increase production to 14,000 cars in the medium term, helped by new models and improving its manufacturing process. The company is investing all of its cashflow to try to achieve this, leaving nothing for dividends or paying down debt. "In terms of execution risk — this is what I've done for all of my career. I'm an engineer: we mitigate risk," Chief Executive Andy Palmer, who has led a turnaround plan at the company since 2014, told Reuters. Palmer played down risks to the business from Britain leaving the European Union, even as other car manufacturers step up warnings over a disorderly Brexit. He said Aston Martin was "relatively well insulated" from the effects of Brexit because Europe is not its biggest market and it may actually benefit from exporting with a cheaper pound. However, 60 percent of its parts are imported from the EU and will be hit by tariffs if there is no trade deal. "Obviously we'd all prefer no tariffs to be frank, no doubt, but the industry has to learn to adapt, and it always has adapted to changes," Palmer said. Valuation In 2017, Aston Martin had adjusted earnings before tax interest, depreciation and amortization (EBITDA) of 206.5 million pounds, up from 100.9 million pounds in 2016.

Aston Martin Valhalla project rebooted with Mercedes-Benz technology

Aston Martin will leverage its access to the Mercedes-Benz parts shelf to revise the Valhalla it plans to release in the coming years. Specifications haven't been finalized yet, but the supercar will most likely arrive with a German heart. Announced in early 2019 as the Project 003, and named Valhalla later that year, the Ferrari-punching model was on track to make its debut with a 3.0-liter turbocharged V6 mounted behind its passenger compartment. Aston Martin proudly pointed out that the six was the first engine it developed in-house since the Tadek Marek-designed 5.3-liter V8 entered production in 1969. These plans changed after Daimler purchased a 20% stake in the firm, however. Aston Martin boss Tobias Moers (whose last position was at the head of Mercedes-AMG) told investors that his team is "re-assessing" the Valhalla, and that it will "probably have a different drivetrain" than the concept. He didn't reveal what the model will be powered by, and he stressed that nothing is off the table. Mercedes-Benz has a wide range of four-, six-, eight-, and 12-cylinder engines in its parts bin, plus hybrid technology and electric motors. Electrification remains in the pipeline regardless of the path the company chooses to take. "With the transformational technology agreement with Mercedes-Benz, there are other chances for us regarding combustion engines, but we still have an electrified drivetrain," he said without providing more specific details. It sounds like Aston will make visual tweaks to the Valhalla, too, because Moers revealed that buyers will be shown an updated version of the car in the next four months. It's unclear whether it will be presented to the public, too. Regardless, the car's introduction is tentatively scheduled for late 2023, so it will likely arrive here as a 2024 model. Moers confirmed that a plug-in hybrid model with what he described as "a reasonable electric range" will join the Aston Martin range in the coming years, too. He added that three new variants of the DBX, the firm's first SUV, are on their way as well. One is a plug-in hybrid. Details about the others aren't known, but another could be a sportier version positioned at the top of the range. Finally, the first electric Aston Martin will arrive in about 2025.

Pre-Race notes from the 2015 Nurburgring 24-Hours

Autoblog has come to the German countryside to watch the Nurburgring 24-Hour race, and just one day in, we have to say it's outstanding. Le Mans has been the highlight of our summer racing schedule for the past few years, the 'Ring 24-Hour event being the appetizer we always skipped. Earlier this year, however, while visiting Miami to check out the Cigarette Racing 50 Marauder GT S, we met Scott Preacher. He oversees digital marketing for both Cigarette and AMG during the week, then comes to Germany to compete in the VLN race series on the weekends, driving an Aston Martin Vantage GT4 for Team Mathol. If Le Mans is the Oscars of endurance racing, the Nurburgring 24-Hour race is the Screen Actors Guild award – the one voted on by the actors, for the actors. In this case it's the race by the teams and fans, for the teams and fans, even though the increasing manufacturer presence has altered the team equation. We were told that it wasn't so long ago that true privateers could win the overall, but that's not really the case anymore. Front-running teams have heavy factory involvement – Audi Sport Team Phoenix, for instance, which finished in first and third last year, has its own 'Ring race center and is running the 2016 R8; Aston Martin is represented by Aston Martin Racing and Aston Martin Test Center, and Bentley has a Bentley Motors team and uses HPT to run another team. The fan component hasn't changed, though, and you can't talk about the race for more than 60 seconds before someone brings up the battalions of spectators. Every driver we spoke to cited them as the most incredible part of this race after the track itself. It feels to us like a giant German Sebring, with thousands of people camped out in the ginormous, forested infield, many of whom have been here since Monday erecting their ornate camping compounds. There will be parties everywhere Saturday night, and so much bratwurst on the grill that the drivers can smell it when as they're blasting full speed through Wehrseifen. Even when we drove a Mercedes S63 AMG Coupe on a lap before the race, the fans waved like it was a competition. Scott Preacher's Australian co-driver Robert Thompson said, "You come around a corner and it's like you're driving full speed through the middle of a carnival." The race field itself could also be called a carnival, with an officially invited field of more than 170 cars. Even on a track that's 24.4-km long, that's like racing on the 405 at midday.