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Aston Martin's lifeline buys carmaker time as SUV hits road

Canadian billionaire Lawrence Stroll and investors have rescued Aston Martin with a 500 million pound cash injection that analysts say will help stabilize the British carmaker whose first sport utility vehicle (SUV) is set to hit the road. Stroll agreed to buy up to 20% of the 107-year-old company and will become executive chairman of James Bond's automaker of choice, which has gone bankrupt seven times in its checkered history. A consortium led by Stroll will invest 182 million pounds($239 million), whilst major existing shareholders - primarily Italian and Kuwaiti private equity groups - will be part of a rights issue to raise 318 million pounds. "It likely gives them enough liquidity to tide them over for a couple of years," said Charles Coldicott, Redburn equity research analyst. Outgoing chairwoman Penny Hughes, who will be replaced by Stroll, spelt out the degree of trouble the firm has been in after core sales fell last year. "The difficult trading performance in 2019 resulted in severe pressure on liquidity which has left the company with no alternative but to seek substantial additional equity financing," she said. "Without this the balance sheet is not robust enough to support the operations of the group." Now Aston will need to turn the financial lifeline into part of a sustainable plan as it delays investment in electric vehicles and cuts its operating costs. A key future milestone includes around 1 billion pounds worth of debt due to mature in 2022. The company also suffers from lower gross margins than rival Ferrari, according to analysts at Jefferies, who have said scaling up is just as important as extra capital. Key to the company's success is its first foray into the lucrative SUV market, a late entrant compared to many rivals such as Volkswagen-owned Bentley and BMW's Rolls-Royce. Aston has built a new factory in Wales to make the model, known as the DBX, which it hopes will attract more women to the brand and some buyers to purchase both it and a vehicle from its traditional line-up. With the DBX model not due to roll off the production line until the second quarter of this year, the firm has taken the cost with only some of the benefit so far. Based in central England, Aston said earlier this month that it already had around 1,800 orders for the car which will retail for 158,000 pounds in Britain, a "materially better" rate than for any previous models.

Supercar parade entering highway is mesmerizing

In what must have looked and sounded to motorists on the M6 like an invasion of The Swarm, a parade of 50 enthusiast gems leaving a charity event were caught shooting down the on-ramp and merging into traffic. There were plenty of Porsches joining the 959 and Ducktail above, Aston Martins going back to the badboy V8 of the last millennium, a Ferrari Testarossa, a TVR and numerous other Easter eggs.
There were not, however, plenty of turn signals, with someone counting just five among the fifty engaging in proper use of the blinker. One reason put forth for that is the same reason we're posting this video, which is from last Summer, below: "because supercar." Enjoy.

What's better than a garage with a lift and a kitchen? Not much, UK owners say

Some folks look to change houses because they need more room, or perhaps their current home's basement floods. Others want a “perfect garage” with a hydraulic lift. In the United Kingdom — where priorities may be different from those in the United States — research from eBay indicates that nearly two-thirds of UK motorists (65 percent) would consider moving for the ideal garage, and theyÂ’d be prepared to pay about 5% over asking price to have one. Reporting the results of a survey among 2,000 car enthusiasts, eBay says the lift and custom toolboxes would satisfy the need to makes repairs to the Aston Martin DB5 or the Jaguar E-type (the cars respondents said theyÂ’Â’d most want installed in the garage). Certainly a built-in drain would be a nice touch for washing the vehicles, as well as proper ventilation for those paint touch-ups. A small kitchen in the garage and a jukebox would be lovely, also. Those polled were also asked to make a list of nifty additions to the garage space. Among the suggestions: a snooker table, decorative lighting, a La-Z-Boy recliner, and engine hoists. According to the research, more than 4-in-10 homeowners feel that their current garage stops them from fulfilling their passion for cars. More than half would be more likely to own a classic car if they had a garage to store it in. Said Oliver Bindloss of the Bindloss Dawes Architects firm that worked with eBay on the poll: “Garages are so much more than just a functional space for cars, they must be tough and work hard, but also be enjoyable spaces to relax in. For us as architects, the perfect garage has to start with the cars themselves.” Aston Martin Jaguar Car Buying Ownership Parts and Accessories Classics