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Aston Martin DB11 already has over 1,400 pre-orders

It's barely been a month since Aston Martin revealed the new DB11 at the Geneva Motor Show. The company hasn't even announced all the details yet, but it reportedly has already topped 1,400 pre-orders for the new model. "I think we're at more than 1,400 orders now," Aston chief Andy Palmer told the Motor Report, "which is great for a car that we've not really released the whole details about, and isn't available to be purchased until September." That's impressive considering that the company only sells around 4,000 vehicles each year. View 42 Photos Aston plans to ramp up production to 7,000 units annually, and the arrival of the new DB11 represents a major step forward for the niche automaker. It replaces the DB9 that's been on the market since 2004 and has – alongside the Vantage that's nearly as old – served as the basis for most of the vehicles the company has made over the past decade. However, the DB9 is built on a new platform and uses a new engine and transmission (among other components) supplied by Mercedes-AMG. Its 5.2-liter twin-turbo V12 drives 600 horsepower and 516 pound-feet of torque to the rear wheels through an eight-speed automatic. Aston's latest is slated to reach US dealers in the fall, with a price tag starting at $211,995. That represents only a small increase over the base price for the DB9 GT, which starts at just under $200,000. Rival Bentley's Continental GT tops out in Speed spec just a bit higher at $227,600. Related Video:

Major Aston Martin shareholder cuts stake in British carmaker

A top Aston Martin shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday. Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake of 14.99% in Aston Martin as of May 29, compared with its previous stake of 19.92%. It was not immediately clear why the fund cut its stake.  Investindustrial is the company's second-biggest shareholder after Canadian billionaire Lawrence Stroll, according to Refinitiv Eikon data. The 107-year old luxury carmaker in May posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. Aston Martin and the PE firm did not immediately respond to requests for comment. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva) Related Video:

Aston Martin announces $306M in funding to build DBX, 'other new luxury vehicles'

Aston Martin has just gotten one step closer to building a crossover, as the British outfit has secured a 200-million-pound (about $306 million at today's rates) infusion of capital from its leading shareholders. The money will allow Aston Martin to develop "a new vehicle based on the DBX concept," although just how closely the production model will adhere to the concept's styling is unclear. Andy Palmer, the company's CEO, also hinted at other models being added, thanks to the funds. "This additional long-term funding, will enable us to add extra model lines and broaden our presence in the luxury market segment by the end of the decade. The DBX concept has generated interest far beyond our expectations," Palmer said in the attached statement. "The additional investment announced today will allow us to realize the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history." It's unclear what these "other new luxury vehicles" will include. Previous reports have indicated a Lagonda-badged replacement for the aging Rapide will be added to the range, although considering the age of the rest of Aston Martin's lineup, it's a safe bet that at least some of this money will also be put towards vehicles beyond the new CUV and sedan. Scroll down for the full press release from Aston Martin. Related Video: ASTON MARTIN LAGONDA ISSUES GBP200 MILLION FUNDING FOR PRODUCT EXPANSION • Investindustrial and Tejara Capital led a further GBP200 million in investment capital in the form of preference shares • Enables production of DBX luxury crossover, building on range of iconic luxury sports cars • FY 2014 revenues of GBP468 million and adjusted EBITDA of GBP66 million announced 30 April 2015, Gaydon: Aston Martin Lagonda today announced that with the leadership of its major shareholders, it has arranged additional committed funding of GBP200 million, enabling the 102-year old luxury sports car manufacturer to develop significant new luxury models that will drive the future of the company under its strategic business plan. The additional capital investment comes in the form of GBP200 million of preference shares; GBP100 million of which were issued on 29 April 2015 with the remaining GBP100 million – already subscribed for - to be issued in the next twelve months, and will further expand the previously announced investment plan. This major investment in new luxury models is at the core of Aston Martin's strategic vision.