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Aston Martin seeks ‘big brother’ despite first profit in years, IPO talk

Aston Martin just reported that it earned $121 million (or GBP87 million) in 2017, its first profit in eight years, and it's preparing for a possible initial public offering, eyeing a valuation as high as $6.95 billion (GBP5 billion). It has a strategy to begin converting its fleet to hybrid and electric powertrains. Nevertheless, the low-volume British luxury marque says it needs a helping hand to survive the wave of autonomous driving technology sweeping the automotive industry. CEO Andy Palmer tells Bloomberg it's looking for a "big brother" partner to help it with the billions of dollars in capital requirements posed by the dawn of driverless cars. "We are making a new kind of company, a company that can survive on 7,000 to 14,000 very highly priced, very profitable cars a year, but it can survive because of its partnerships," Palmer told Bloomberg TV. "It can be very profitable on that 7,000 to 14,000 cars a year but only by having a big brother that can help it out." Palmer said Aston Martin already has a partnership with Daimler AG, which owns a 5-percent stake in the company, to develop autonomous capabilities, but more help is needed. One assumes he is envious of competitors like Rolls-Royce and Bentley, which benefit from the corporate parentage and financial resources of BMW and Volkswagen, respectively. Sales grew 48 percent in 2017 to nearly 5,100 units, Aston's highest sales volume in nine years, on the strength of the DB11 sports car, which starts at $211,995. It was enough for Palmer to proclaim in a release, "The financial turnaround of Aston Martin is now complete." While it shops around for a sugar daddy, Aston Martin is busy building a new factory in Wales, set to open in 2019. It has launched new models like the DB11 Volante and Vantage, plus the limited-production DB4 GT Continuation model. Further out, the company is building 155 examples of its first electric car, the RapidE, due in 2019, and it's developing an electric version of the DBX crossover, also for 2019. Palmer has said Aston Martin will offer all six of its vehicles in hybrid variants by 2025, with 25 percent of its vehicles to be fully electric by the end of the 2020s. Related Video: Image Credit: Aston Martin Aston Martin Autonomous Vehicles Electric Luxury aston martin rapide aston martin vantage aston martin db11 aston martin dbx aston martin db11 volante

Aston Martin’s Valkyrie looks ready to melt ice in new photos

Aston Martin took to Instagram to release a trio of official images of its forthcoming Valkyrie hypercar bathed in a graduated, nose-to-tail ice blue color scheme befitting its mythological Nordic name and making it look sleek, fast and aggressive. Built from a partnership with Red Bull Racing, the Formula 1-inspired but road-legal car appears to have been further refined since we last saw comprehensive images of a prototype last year. CEO Andy Palmer last month tweeted a 20-second teaser clip to show off the high-revving, F1-like sound of its 6.5-liter V12 engine, which is loosely based on Cosworth's 2.4-liter V8 but rumored to hover above 1,000 horsepower, plus more from a kinetic energy recovery system working the front axle, making it likely the fastest street-legal production car. Taking inspiration from today's #F1 race cars, Aston Martin Valkyrie features a reclined 'feet up' position, ensuring the driver feels at one with the car for the ultimate drive experience #BeautifulToDrive #AstonMartin #AstonMartinValkyrie A post shared by Aston Martin (@astonmartinlagonda) on Nov 1, 2018 at 11:30am PDT The F1 influence is clear from the shot of the cabin, which is swathed in carbon fiber and where the seats are positioned in a reclined "feet up" position. It also features six-point harnesses for driver and passenger, and a steering wheel that will display all information for the driver. There are also two screens visible — one centered on the console, the other positioned near the door jamb, which is likely a camera-monitor replacement for side mirrors, meaning there's almost certainly a third screen on the driver's side that isn't visible in the photo. Motor 1 reports that the Valkyrie is in the final stages of simulation, with an actual car set to begin testing late this year or early in 2019, though the final version will likely weigh a bit more than its targeted 2,204 pounds. All 150 models have been sold out and are scheduled for delivery in 2019. A track-only Valkyrie AMR Pro said to make 1,100 hp and do a top speed of 225 mph is also planned for 2020. Related Video: Featured Gallery Aston Martin Valkyrie Image Credit: Aston Martin Aston Martin Coupe Luxury Racing Vehicles Performance supercar Red Bull Racing hypercar Aston Martin Valkyrie aston martin valkyrie amr pro

Aston Martin may be forced to stop selling DB9, Vantage in US [w/poll]

There are any number of factors that are making it increasingly difficult for a small-scale, independent automaker like Aston Martin to stay competitive in today's automotive marketplace, from purchasing power to R&D capacity. But the latest factor endangering Aston's viability on the marketplace seems to be coming down to tighter government safety standards. The National Highway Traffic Safety Administration is enacting new side-impact crash regulations that require vehicles to better withstand the impact from running into a pole or tree – narrow-gauge fixed objects you're likely to find lining public streets. The standard has been phased in over the last few years, but while an exemption to the gradual phase-in was granted to low-volume manufacturers, even those automakers will have to meet the cut-off next month. And convertibles (which were granted a further extension) will have to meet them by September 2015. Unfortunately for Aston Martin, two of its core models – the Vantage and DB9 – do not pass the test. That would mean that it would have to stop selling both those model lines (which just also happen to be its oldest), but a spokesman for the brand's US dealers is petitioning the government body to grant them an exception. According to James R. Walker, chairman of Aston's US dealer advisory panel and owner of the dealership in Washington, DC, losing the V8 Vantage coupe, V12 Vantage coupe and DB9 coupe next month would cost dealers about 25 percent of its gross profits, and losing the convertible versions of the same next year would cut another 40 percent of their profits. The combined 65 percent drop in sales (assuming, of course, that sales of the recently updated but more expensive Vanquish and Rapide wouldn't rise to make up for it) would mean that many of the 35 dealers across the US would have to close, putting the 230 people who work at the dealers (and another 300 related personnel) out of work. On that basis, Walker is asking the government to grant an exemption for the DB9 through August 2016 and for the Vantage through August 2017. By then, we're lead to assume, their replacement (or replacements) will have arrived, meeting the new crash standards. We've reached out to Aston Martin for comment on the issue and will update you as soon as we hear back. In the meantime, voice your opinion on the issue in our online poll below.