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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 previews new 5.2-liter twin-turbo V12

Depicted in the teaser video above is Aston Martin's new 5.2-liter twin-turbocharged V12. Beyond those basic specifications, Aston isn't saying much about this new engine or what it will power, but it does promise that the new engine will debut sometime this year. The bulk of Aston Martin's current lineup – basically everything but the V8 Vantage – is powered by a 6.0-liter V12 that dates back to the DB7 Vantage that debuted in 1999. Only where that model produced 420 horsepower, the latest version in the Vantage GT12 produces nearly 600 hp. Which just goes to show how much Aston has been able to do with the aging engine, but everything has its limits, and all good things must come to an end. While the switch to forced induction may mean a less revvy engine, it ought to deliver more torque (as well as lower emissions and fuel consumption). Aston has a new partnership with Mercedes-AMG that is slated to supply the British automaker with a twin-turbo V8. But the German outfit has considerable expertise with twin-turbo V12s as well. The production facility that recently relocated from Affalterbach to Mannheim produces the 6.0-liter twin-turbo V12 that motivates Mercedes' own SL65 roadster, G65 sport-ute, and S65 sedan, coupe, and cabrio, as well as the version for the Pagani Huayra.

Aston Martin Vanquish S gets harder, better, faster

Now in its second generation, the Aston Martin Vanquish has finally earned a red "S" badge. That means a subtle revamp of the Vanquish's shape, speed, suspension, and interior specification to separate the new coupe from both the previous model and the new hotness, the incoming DB11. A meaner front fascia and a racy rear diffuser, both in exposed carbon fiber, reduce frontal lift. The new black quad exhaust pipes tucked into triangular cutouts just look mean. For those who want to go further, the already considerable option sheet gets new elements like carbon-fiber engine louvers and a new diamond-turned wheel design. Aston Martin also talks up an array of "striking painted graphics packs," which likely lean toward the subtle sky blue accents in the car pictured above as opposed to a purple and yellow Indy Pace Car package. The 6.0-liter V12 adds 12 horsepower for a total of 580. Larger inlet manifolds and a freer-breathing intake bestow finer throttle response for an anxious right foot. The eight-speed Touchtronic III gearbox adds refinement at the same time as it swaps cogs more quickly than before. Changes made throughout the suspension, from spring rates to damper internals, should do the trick when driving calls for more hammer than velvet. Not that you need to drive anywhere in the Vanquish S to enjoy it fully, since the cockpit is a reward unto itself. Chopped carbon fiber drenched in a satin sheen comprises the waterfall center console, in high-tech brutalist contrast to the new "Filograph" quilted seats in Bridge of Weir leather. One unsubtle aspect of the Vanquish S: the $294,950 price for the coupe, and a cool $312,950 for the Volante. Deliveries commence in December. Related Video: Featured Gallery 2017 Aston Martin Vanquish S View 16 Photos LA Auto Show Aston Martin Convertible Coupe Luxury Performance aston martin vanquish 2016 LA Auto Show aston martin vanquish s