2009 Aston Martin Vantage Convertible - Florida Vehicle - Extremely Low Mileage on 2040-cars

Auto blog

Aston Martin to cut up to 500 jobs to reduce costs

LONDON — British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come just days after Aston Martin's second-largest investor reduced its stake in the company, and a week after it confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer. The 107-year old firm said the job losses reflected lower than originally planned production volumes and improved productivity across the business. An employee and trade union consultation process will be launched in the coming days. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018. Last month it posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "The measures announced today will right-size the organizational structure and bring the cost base into line with reduced sports car production levels, consistent with restoring profitability," it said. It said its first sports utility vehicle (SUV), the DBX, which is key to boost volumes and appeal to new buyers including more women, remains on track for deliveries in the summer and has a strong order book. Aston Martin is also reducing costs and removing non-critical expenditure in other areas, including contractor numbers, site footprint, marketing and travel. It said the restructuring is expected to deliver total annual savings of about 38 million pounds ($47.6 million). Restructuring costs are expected to be about 12 million pounds. Shares in Aston Martin, down 78% over the last year, closed Wednesday at 68.9 pence, valuing the business at 1.05 billion pounds.  

Aston Martin confirms new platform under development

It's been thirteen years since Aston Martin introduced the original V12 Vanquish. The model was effectively been replaced twice over by the time it reached its Bar Mitzvah, but its underlying platform is still around. And not just around, either: it underpins everything Aston makes and has made ever since it came on the scene, save for the Cygnet and the One-77 supercar. That includes the V8 and V12 Vantage, the short-lived Virage, the new Vanquish, the DB9, DBS, V12 Zagato and even the four-door Rapide. But while it may seem like forever that Aston's been using the VH platform, it won't be around forever more. In announcing its positive financial results for 2013, Aston Martin CFO Hanno Kirner confirmed: "We are engineering a completely new architecture and technologies to ensure that our next generation of sports cars is at the forefront of design, performance and technology." The new platform is expected to underpin the next generation of Astons Martin, and will be powered by a new V8 engine being developed by Mercedes-AMG, similar to the arrangement that sees V12s furnished to Pagani for the Huayra. Whether an AMG-developed V12 is also in the cards for Aston Martin remains to be seen – the company ran on V8 power alone from the mid 70s (when its six-cylinder engine was retired) until the Ford-developed DB7 brought six- and then twelve-cylinder power. That aging but glorious 6.0-liter engine, by the way, still powers the vast majority of the company's lineup. The platform and associated technologies are being funded by the influx of capital from shareholders Investindustrial, Primewagon and Adeem Investment and by a 13-percent increase in revenue due to the launch of the new Vanquish Volante and V12 Vantage S, as well as the company's expansion into new markets like Mexico and Thailand. It wasn't long ago that upon spending a week with the company's Vanquish coupe that we fell just short of love, wondering aloud how long Aston could weather its uncertain financial picture while still relying heavily on elderly technology and drivetrains cradled in elderly platforms. We now appear to have our answer, and we like what we're hearing. Aston Martin Holdings (UK) Limited Full Year Results 2013 28 April 2014, Gaydon: Aston Martin Holdings (UK) Limited is today announcing full year results for the 12 months ended 31 December 2013.

Aston Martin Vanquish Zagato set to dazzle Villa d'Este

Aston Martin and iconic Italian design house Zagato teamed up to create a striking carbon-fiber-bodied concept set to debut at a glitzy concours on the shores of Lake Como, Italy, this weekend. The Vanquish Zagato will be on display at the Concorso d'Eleganza Villa d'Este, marking the fifth time that Aston and Zagato have collaborated on a car over five decades, beginning with the DB4 GT Zagato in 1960. The Vanquish Zagato concept has taillights that use traditional Zagato styling, but also use the bladed LED technology from the Vulcan supercar. The rear styling evokes the DB11 and features a quad-exhaust system and retractable rear spoiler. A carbon-fiber sill runs around the body. The roof has a double-bubble profile that's a hallmark of Zagato design that dates to the 1950s. The cabin is loaded with more carbon fiber and leathers, and the seats have a Z quilted stitch pattern with more Zs in the headrests and the center console. Power comes from a naturally aspirated V12 uprated to 592 horsepower. "We pride ourselves on our strong partnership, and the creation of the Vanquish Zagato concept was a true shared experience," Zagato CEO Andrea Zagato said in a statement. "It represents the essence of an important design relationship that dates back over 50 years." Related Video: Featured Gallery Aston Martin Vanquish Zagato View 10 Photos Design/Style Aston Martin Coupe Performance Supercars aston martin vanquish concorso deleganza villa deste aston martin vanquish zagato