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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.

Comedians in Cars Getting Coffee teases return with a Countach

Unless you have an intense aversion to Jerry Seinfeld, it's hard not to find something to like about his show Comedians in Cars Getting Coffee. After all, the series combines funny people telling often hilarious stories while riding in ridiculously cool vehicles. The trailer for the sixth season is now online, and based on this tease, this definitely looks worth watching no matter what part of the videos interest you. Of course, it's the automotive portion that really grabs us, and Seinfeld has quite a fleet to showcase for season six. The trailer shows off a Lamborghini Countach, a '57 Chevrolet Bel Air convertible, a classic Volkswagen Beetle in the green and white German Polizei livery, a Morgan, an Aston Martin DB5, and a Ferrari 308. On the more humorous side of things, the guest list at least includes Julia Louis-Dreyfus, Jim Carrey, Steve Harvey, Stephen Colbert, Bill Maher and upcoming host of The Daily Show Trevor Noah. Season six of Comedians in Cars Getting Coffee premieres on Crackle on Wednesday, June 3, at 11:30 PM ET.

Aston Martin bringing Vantage GT12, Lagonda to Goodwood

Over the past 22 years, the Goodwood Festival of Speed has become one of the premier classic car events in the world. It's a place where incredibly rare vehicles are dusted off and are actually driven up the estate's famous hill. In addition to all of the wonderful things on display there this year, Aston Martin is giving the public a look at two of the brand's rarest current models – the Vantage GT12 (pictured above) and Lagonda Taraf. Goodwood is actually the first time the Vantage GT12 will be displayed on British soil, and all 100 units of it are already sold out. Aston originally debuted the stripped-out, 592-horsepower, V12 coupe at the 2015 Geneva Motor Show as the Vantage GT3, but a legal dispute with Porsche over the name forced the switch to the current moniker. Rather than just a static display, Aston CEO Andy Palmer has also decided to drive a GT12 up the hill. If race-inspired, limited-edition coupes somehow aren't your thing, Aston Martin is also putting the Lagonda Taraf on display. Once exclusively available in the Middle East, the 200 examples of the carbon-fiber sedan are now for sale only by invitation, and this outing at Goodwood actually marks its global, public debut, outside of a major auto show. Each one is assembled by hand at the same dedicated facility responsible for vehicles like the One-77. Beyond the company's latest and most limited production models, visitors to Goodwood also have the opportunity to watch the hillclimb by the #97 Vantage GTE racer from Le Mans with a mind-bending livery. Rarities like the CC100 are going to be making runs, as well. As usual, if you can make it the UK, this sounds like a must-see event. Related Video: ASTON MARTIN TO THRILL GOODWOOD WITH ITS BIGGEST-EVER PRESENCE 18 June, 2015, Gaydon: Aston Martin arrives at the 22nd Goodwood Festival of Speed next week with a superb line-up of exclusive and exciting sports cars and super saloons which, together, represent its biggest presence yet at the world-renowned celebration of motoring and motorsport. The luxury British sports car maker will treat the Goodwood patrons to a feast of 'firsts', including the UK debut of the motorsport-inspired, and now sold-out, Vantage GT12 and the global dynamic debut of the strictly-limited luxurious new Lagonda Taraf super saloon.