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Aston Martin shares plunge to new low following half-year loss

LONDON — Shares in Aston Martin plunged 17% to a post-flotation low on Wednesday after the luxury British carmaker slumped to a half-year loss, the latest automotive firm to be hit by falling demand in Europe. Aston Martin, best known as James Bond's favorite marque, has been undergoing a turnaround plan since Chief Executive Andy Palmer took over in 2014, designed to renew and boost its model line-up and move into new segments. The plan led to an autumn 2018 stock market flotation. But its shares have since fallen by around three quarters from their 19 pounds float price to below 5 pounds, hit most recently by the group's weak performance in Europe, the Middle East and Africa, where half-year demand fell by nearly a fifth. The group posted a pretax loss of 78.8 million pounds in the six months through June from a 20.8 million pound profit in the first half of 2018. Its shares were down 17% at 4.71 pounds by 0748 GMT. "We are disappointed that our projections for wholesales have fallen short or our original targets, impacted by weakness in two of our key markets as well as continued macro-economic uncertainty," Palmer said. Overall wholesale demand grew by 6% in the first six months as the group posted strong increases in the Americas and Asia, but a decline in Britain and the rest of the continent prompted the carmaker to cut its full-year forecast. Aston has also been hit by expansion costs as it builds a new factory in Wales to make its first sport utility vehicle, and a lower average selling price. The company said that if it requires some additional financing it would pursue the funds from sources such as the debt markets. The global car industry has been hit by weakening demand in China and a drop in demand for diesel vehicles in Europe, as well as the cost of electrification. Nissan reported plunging profits last week and said it would undertake its biggest restructuring plan in a decade, axing nearly a tenth of its workforce. But 106-year old Aston also faces the risk of a disorderly Brexit disrupting its wholly British production, as delays at ports due to new bureaucracy could slow down the movement of vehicles and components. "We do not want a no-deal Brexit because of the disruption that causes to issues at the border," said Palmer.

Aston Martin's project 003 could have a name: Valhalla

When Aston Martin unveiled the Valkyrie at the 2017 Geneva Motor Show, the carmaker's chief designer told Drive, "We have a bunch more V names that we've thought of and haven't used." Earlier this year, AutoGuide discovered a trademark application for the name Varekai, which Aston Martin will use for its crossover. Now the same site has found another trademark application at the with World Intellectual Property organization, this time for Valhalla, which it expects to be applied to the "Son of Valkyrie," formerly known as 003. The automaker made the filing on October 12, 2018. If you're unclear on all the connections, the Valkyrie was codenamed AM-RB 001, denoting the first collaboration between Aston Martin and the Red Bull Racing Formula 1 team. The Valkyrie AMR Pro was AM-RB 002. That makes the Valhalla, nee 003, next in the chute. The naming inverts Norse myth, since the legends say Valkyries escorted fallen warriors to the Hall of the Slain in Valhalla. In Aston Martin's working, you need to go through Valhalla to get to the ferocious women with the swords. Although not thought to be co-developed with Red Bull Racing, the Valhalla will retain lightweight, carbon-fiber-intensive construction and active aerodynamics like its larger siblings, as well as an active suspension. As a road-legal and more practical step below the Valkyries, the Valhalla includes "space for luggage," and a quieter cabin. Instead of a naturally-aspirated V12, the third member of the family goes with a turbocharged V6 with hybrid help. Anticipated to be a full-on hypercar, the competitive set is thought to include the McLaren Speedtail and whatever succeeds the Ferrari LaFerrari. Aston Martin will make 500 Valhallas, deliveries commencing in late 2021. Before then, don't be surprised to see the Vanquish name return on the company's Ferrari 488 and McLaren 720S challenger. Related Video:

Aston Martin DB9 GT breaks cover

Based on recent spy shots, it appears that the Aston Martin DB9 might be nearing retirement. Thankfully, the British sportscar brand isn't letting the high-performance grand tourer wither on the vine until a replacement arrives. Instead, the company is launching the most powerful version of the model yet with the introduction of the DB9 GT at this year's Goodwood Festival of Speed. With its tuned 6.0-liter V12 getting an extra 30 ponies to push output to 540 horsepower, the DB9 GT certainly doesn't lack for power, and that muscle routes through the brand's six-speed Touchtronic II gearbox. The potent powertrain can launch the luxurious model to 60 miles per hour in a claimed 4.4 seconds and to a reported top speed of 183 mph. The latest model offers more than just a performance upgrade, though. On the outside, the DB9 now wears a black front splitter and rear diffuser. It also rides on new 10-spoke, 20-inch wheels, and you can spot black-anodized brake calipers just behind them. For a further flourish, GT is engraved on the aluminum fuel cap, and if all of that isn't enough, buyers can spec a plethora of optional, carbon-fiber trim. Inside, the GT's big upgrade is a switch to Aston Martin's latest AMi II infotainment system. It features a revised menu structure that the company claims makes working the tech more user-friendly. This DB9 delivers on luxury too with fluted-leather seats and an Alcantara-wrapped steering wheel. The DB9 GT is available for order now, and the price for the additional power and luxury in the US starts at $199,950. It's not the only Aston Martin receiving some attention, though, because the 2016 model year examples of both the V8 Vantage and Rapide S also get the AMi II system. They benefit from new color and upholstery options, as well. Aston Martin reveals DB9 GT – the ultimate in bespoke grand touring New GT model showcases the very best of DB9 Most powerful DB9 to date with 540 bhp from 6.0-litre V12 engine Colour, trim and equipment additions for Vantage and Rapide S models 24 June, 2015, Gaydon: Aston Martin is today revealing the DB9 GT – the luxury British sports car maker's most compelling production 'DB' to date. Designed to offer the best of what DB9 can be, the new car delivers world-class grand touring and hand-built excellence.