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Aston Martin speeds ahead with October IPO worth perhaps $6.7 billion

LONDON — Luxury British carmaker Aston Martin is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from its stock market flotation and has taken steps to prepare for any eventuality over Brexit, it said on Thursday. The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so for decades. The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct. 3. It expects its shares to be admitted to the London Stock Exchange on or around Oct. 8. Carmakers have warned about the impact of any customs checks introduced as a result of a no deal or hard Brexit which could slow down production and add costs when Britain leaves the bloc in March 2019. The boss of Aston, which builds all its cars in Britain, said the company had boosted its stock of engines and components in case free and unfettered trade with the European Union ends in a few months' time. "We're up to five days of engine stock for example and we've got a very large warehouse in Wellesbourne (in central England) where we have at least five days of car stock," Chief Executive Andy Palmer told Reuters, an increase from the previous three days' worth of components held by the firm. "If there are tariffs ... for every car we lose because of a 10 percent tariff into Europe, we presumably pick up from Ferrari and Lamborghini in the other direction because obviously their cars become more expensive in the UK," he said. London and Brussels hope to conclude a Brexit agreement by the end of the year, but fellow carmakers such as BMW and Jaguar Land Rover (JLR) are worried that failure to agree could lead to snarl-ups at motorways and ports, disrupting production. JLR boss Ralf Speth warned last week that the wrong Brexit deal could cost tens of thousands of car jobs and risk production at the firm, Britain's biggest carmaker. Aston, which has set a price range of 17.50 pounds to 22.50 pounds per share for the 25 percent of stock it is floating, is targeting a market capitalization of between 4.02 and 5.07 billion pounds. The carmaker, which has long said it could pursue a listing, has undergone a turnaround plan since Palmer took over in 2014 as it boosts its volumes and expands into new segments with a new factory due to open in 2019.

Weekly Recap: Aston Martin to add another sports car, new Lagonda sedan, EVs

Aston Martin will revamp and expand its lineup as part of a five-year plan laid out by the company's new executives. If it succeeds, the strategy will position Aston for growth as an independent automaker with a more stable future in its second century. Aston will replace all of the cars in its current lineup and add a fourth sports car to its stable. It currently has three: the DB9, Vanquish and Vantage. The unnamed sports car will be joined by a production version of the DBX concept – an all-wheel-drive electric car that treads near crossover territory – that was revealed at the Geneva Motor Show. Aston's electric strategy also includes a potential electric-powered Rapide. Eventually, Aston plans to build a new four-door Lagonda. Though Aston will diversify its portfolio and the range could expand to seven vehicles, it will limit production to around 7,000 units annually, said Aston Martin marketing and communications director Simon Sproule, who described the company's strategy in an interview with Autoblog. CEO Andy Palmer, who joined Aston last year from Infiniti, has also spoken recently about remaking the company for the future. EVs are a major part of Aston's future, Sproule stressed, because they allow the automaker to "balance" its portfolio. Aston is studying the feasibility of an electric Rapide and is working with an undisclosed engineering firm. It's likely to use a plug-in setup and would cost $200,000 to $250,000 or more. It could use either a rear-wheel or all-wheel-drive configuration. View 14 Photos "It's a study, but we're serious about it," Sproule said. He added for emphasis: "If not this, there will be an electric Aston Martin in the future." Aston has taken note of what Tesla has done with the brisk-driving Model S and decided that's the dynamic it wants for some of its own cars. Even though EVs don't emit the same sonorous note as a V12 – they're better than the alternative, Sproule said. "The sound of silence is much more preferable than the sound of a four-cylinder whining away under the hood of an Aston Martin," he said. Speaking of V12s, they're not going away. Aston will continue to make its own V12 engine, but will source its V8 from Mercedes-AMG (whose parent, Daimler, owns a small stake in Aston). While the V12 is sure to please the faithful, Aston admits EVs and the crossover-like DBX will rankle many. Sproule argues those are the moves that will keep Aston relevant.

Aston Martin Vantage AMR is road-going follow-up to AMR Pro

Two months ago, Aston Martin launched its new AMR line of vehicles with a pair of limited-edition cars. One was a slightly warmed-up Rapide sedan called the Rapide AMR, and the other was a track-only Vantage with a race-car-derived V8 called the Vantage AMR Pro. Now the company has released a third, or third and fourth depending on how you're counting, model that splits the difference. The new Vantage AMR, sans the Pro part, is available with either a V8 or a V12, and can be had as either a coupe or convertible. What make the Vantage AMR special are limited production and aesthetic upgrades. Only 300 examples will be made, 200 of which will have the V8, while the other 100 have the V12. The V8 doesn't make any more power than the standard model, but the V12 produces an extra 30 horsepower over the standard model for a total of 595. Aston Martin also offers an optional titanium exhaust to improve the sound of these engines and reduce weight, but it doesn't change output. Observers of these Astons will be able to spot them by their special paint schemes with a center stripe down the middle. The cars can be had in white with an orange stripe, black with a blue stripe, blue with a red stripe, or silver with a gray stripe. There's also a "Halo Pack" that includes a green paint scheme similar to Aston Martin's GT racing cars, complete with a lime green stripe. There's also a no-cost option to add an Aston Martin badge painted in the colors of the Union Jack. Every color combination comes with a color-coordinated interior, too. Just because this is a very rare Aston Martin doesn't mean there aren't any options. On the contrary, there are quite a few, mostly concerning appearances. On the outside, carbon fiber side skirts, headlight housings, and grille are all available. An aerodynamics kit is also available that adds a big rear wing, front splitter, and front canards for additional downforce. Lightweight forged wheels are also available. Inside, the carbon fiber decoration continues with available seats, instrument surround, window sills, and grab handles. Depending on whether you're converting Euros or British pounds, an Aston Martin Vantage AMR will start between about $125,000 or $143,000. That doesn't really matter, though, since the Vantage AMR won't be offered in the US. It will only be available in the UK, Europe, China, and the Asia Pacific region. Middle Eastern buyers can also pick one up, but only the V12 variant.