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Aston Martin CFO departs as stock hits a record low, losses deepen

LONDON — Aston Martin shares slumped to a record low on Thursday after the British luxury carmaker said its losses ballooned last year and its chief financial officer would leave by the end of April. The firm, famed for being fictional agent James Bond's car of choice, posted a pretax loss of 104 million pounds ($135 million) last year compared with 68 million pounds in 2018 following a 9% decline in sales to dealers. Aston Martin is in the midst of restructuring after announcing last month that a consortium led by Canadian billionaire Lawrence Stroll would buy up to 20% of the company and existing shareholders would inject more cash. Its shares, which were listed in October 2018, have been on a steady downward trajectory ever since and hit a record low of 328 pence following the announcements on Thursday, more than 80% lower than their flotation price. "The big difference between last year and this year is the strength of the balance sheet," Chief Executive Andy Palmer told Reuters. "We're in a very different place and have therefore an ability to properly ... destock and that means get the balance right between supply and demand." Chief Finance Officer Mark Wilson will step down from his role no later than April 30 but had not been fired, said Palmer. Coronavirus impact China, Aston's fastest growing market, was a rare bright spot last year with sales rising 28% but the company, like the rest of the industry, has seen demand drop due to the coronavirus outbreak. The virus has infected more than 80,000 people and killed about 2,800, the majority in China, confining millions to their homes, disrupting businesses and delaying the reopening of factories after the extended Lunar New Year holiday break. Aston has seen disruption to the arrival of certain parts but said it had not had to stop production at its factories, with components secured until at least the end of March because it has no direct suppliers in China. "Since almost the first weeks of the New Year we've had issues with those Tier 2 and Tier 3 (suppliers) which have meant that our supply chain guys have had to be on it constantly," said Palmer. "We're ironically benefitting from the fact that we built up a Brexit stock," he said, in a reference to extra components the firm held in case Britain's departure from the European Union led to additional delays in the movement of goods.

Wingsuits are somehow involved in new season of 'Top Gear'

It's a shame that Matt LeBlanc is leaving "Top Gear," but there's a bit of solace in the situation: There's still one more season of him as frontman. BBC just released the new trailer for series 26, and it shows LeBlanc, Chris Harris and Rory Reid getting into all sorts of shenanigans around the globe. "Top Gear" announced LeBlanc's imminent departure back in May 2018, but he still had to finish one more season before leaving. Thus, the upcoming series will be his last, and it looks like he'll go out in a whirlwind of dust, bent metal, water spray and burnt rubber. The trailer shows everything expected from a season of the storied automotive show (well, everything except Hammond, May, and Clarkson, if you're one of those people). There will be precision driving, dubious stunts, name-calling and gobs of stunning videography. In the short one-minute clip, there are flashes of numerous attention-piquing vehicles. The new Bentley Continental GT, a Bentley Le Mans racer, Porsches, Ferraris, the Aston Martin Vantage, and the Mercedes-AMG GT all make appearances. And for some random fun, the boys are seen in wingsuits (doubtful it's actually them), and playing polo in some three-wheel rickshaws (before wrecking said rickshaws). We'll update with more information as soon as we know when the show will start. Related Video: News Source: BBC Celebrities TV/Movies Aston Martin Bentley Ferrari Mercedes-Benz Porsche Videos Top Gear chris harris matt leblanc rory reid

Aston Martin Vantage AMR equipped with a stick shift to honor Le Mans win

Where and how a car debuts can say a lot about that vehicle. With the newest Aston Martin, the message is clear: It's all about the lasting visceral connection between driver and automobile. The Vantage AMR, with a manual transmission and a twin-turbocharged V8, debuted today at the 6 Hours of Spa-Francorchamps, the second-to-last race in the 2018-2019 FIA World Endurance Championship. Of the 200 examples, 59 will be available with special "Vantage 59" trimmings. We've known a manual-transmission Vantage was on the way for some time, but as our previous report said, this is the first time the Mercedes-AMG-sourced engine has been paired with a stick. So it expectedly took some time to develop. The brawny power source beneath the Vantage's hood is a 4.0-liter twin-turbocharged V8. It is rated at 503 horsepower at 6,000 rpm and 461 lb-ft of torque at 2,000 rpm. It has a top speed of 195 mph and has a claimed zero-to-60 time of 3.9 seconds. The AMR's stats are slightly down from the base Vantage due to use of the Graziano-developed seven-speed transmission. The automatic Vantage offers 505 lb-ft of peak torque and has a listed zero-to-60 time of 3.6 seconds. In part due to the change from automatic transmission to manual, the AMR is significantly lighter than the regular Vantage. Switching to standard carbon ceramic brakes also helped the AMR come in 209 pounds lighter, yet Aston says the car maintains its nearly even 50-50 weight distribution. Several technologies aim to keep the AMR's motorsport-inspired driving feel as smooth, quick and efficient as possible. The AMR has a limited-slip differential, adaptive damping (with Sport, Sport+, and Track modes), and AMSHIFT, Aston Martin's version of heel-toe-mimicking rev-matching. The driver selectable transmission aid also allows for full-throttle upshifting. Although Aston Martin is earning the attention and admiration of purists by building a Vantage with a manual transmission, not everybody will be lucky enough to get one. Production is limited to 200 units, with 59 of those cars offered in an extra-limited-edition "Vantage 59" spec (this was similarly done to the DBS). Honoring 60 years since the DBR1's win at the 1959 24 Hours of Le Mans, all Vantage 59 cars will wear Stirling Green and Lime suits. Inside, they get Dark Knight leather, Alcantara trim, and Lime accents. The remaining 141 cars are offered in Sabiro Blue, Onyx Black, China Grey, or White Stone.