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Aston Martin stock price shaken and stirred by latest weak outlook

Aston Martin warned its 2019 profits would almost be cut in half due to weak European markets, sending its shares sharply lower as rivals Bentley and Rolls-Royce powered ahead. Tuesday's downgrade is the latest from the British luxury carmaker, whose shares have now plunged about three quarters in value since their 2018 listing. The 107-year-old firm, famed for being fictional agent James Bond's brand of choice, cut its forecast for wholesale volumes and profit margins in July, and reduced its volume forecast again in November. It has blamed weak UK and European markets and subdued demand for its Vantage model and said on Tuesday those conditions continued through December, leading to a 7% drop in wholesale volumes for 2019. "From a trading perspective, 2019 has been a very disappointing year," Chief Executive Officer Andy Palmer said, as the company's shares plunged as much as 16%. While Aston spent 2019 ploughing money into a new factory to build its first SUV, the highly lucrative market a number of carmakers have entered, rivals such as BMW-owned Rolls-Royce and Volkswagen-owned Bentley appear one step ahead. Bentley on Tuesday said its Bentayga SUV boosted the brand's performance in 2019 as it returned to profitability, while Rolls-Royce's Cullinan helped drive a 25% increase in sales to an all-time high of 5,152 vehicles. "Cullinan has proven to be an outstanding hot seller for the brand," Chief Executive Torsten Mueller-Oetvoes told Reuters. "We are sitting now on an order bank reaching even far into 2020." Aston hopes its first SUV, the DBX, will emulate this success and revive its fortunes next year. About 1,800 orders have been booked since its launch in November, the company said. "The order rate is materially better than any other car that we have ever launched before," Palmer told Reuters. For 2019, Aston expects adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 130-140 million pounds ($171 million to $184 million). The company reported 247.3 million pounds in core profit a year earlier, while analysts' average forecast was 196 million pounds for 2019, according to a company-compiled consensus. Aston said it was also in talks with investors for a potential equity investment and would draw down $100 million in bond notes. Its shares, which have lost nearly 3 billion pounds in market value since their listing, were down 11.1% to 464.8 pence at 1136 GMT.  

Aston Martin reveals the open-air Vantage Roadster

Aston Martin has tweeted the first official image of its Vantage Roadster in prototype form, following a promise made earlier this year to unveil a convertible version by year's end of the all-new coupe that was unveiled almost two years ago. As is clearly illustrated on the door, you’ll be able to buy the droptop next spring. ThatÂ’s about the extent of information on offer from the company, but, well, look at the thing! ItÂ’s presented in matte black paint, which suits it well and shows off the side gills, sculpted sidelines and the ducktail rear spoiler with the arching, full-length LED taillight. It may also be instructive to look at the DB11 Volante, the convertible version of AstonÂ’s higher-slotting sports car, for clues. It required tweaks to stiffen the chassis and redistribute the added weight as a result of chopping off the top. That droptop is also more expensive than the DB11 coupe, something we can also expect from the Vantage Roadster (the Vantage coupe starts at $149,995 and weighs in at 3,373 pounds). The Vantage features an AMG-sourced 4.0-liter twin-turbo V8 that makes 503 horsepower and 505 pound-feet of torque and sends that to the rear wheels via a rear-mounted ZF eight-speed automatic transmission. In the coupe version, that setup helps produce a 0-to-60 mph time of 3.5 seconds and top out at 195 mph, though of course weÂ’ll have to wait for more from Aston closer to the soft topÂ’s launch. But before that, of course, weÂ’re likely to see the DBX sport-utility vehicle, which is set for a December reveal.

Aston Martin values electric propulsion over downsizing

Not even small-volume manufacturers are being exempt from the automotive industry's pursuit of higher efficiency and lower emissions. At present, that means either electric propulsion (whether in part or in whole) or downsizing conventional engines, and for Aston Martin, the future apparently lines in the former. "I see in our future obviously V12s, V8s and probably battery-electric cars," Aston's CEO Palmer revealed to Autocar. "As time evolves, there's probably an inevitability to hybridisation, simply because, car by car, you can only downsize so much. I'd rather put a hybrid in there than an in-line four-cylinder." So just how does the company envision implementing electric or hybrid propulsion? "Imagine something like a 4x4, 1,000-bhp silent Rapide. I think 'Power, Beauty, Soul' doesn't say it has to be a gasoline engine. It just needs to be really powerful, really beautiful and set your heart on fire," Palmer explained. "I'd argue that 1,000 bhp on the ground would probably do that for you. So that's the route we could go." The British automaker demonstrated the DBX concept with an all-wheel-drive electric powertrain at the Geneva Motor Show a few months ago, and is currently in the process of revitalizing and expanding its current product range. Of course Aston isn't the only high-end niche automaker faced with the decision to either downsize or add hybrid propulsion. Ferrari is taking both approaches, using smaller turbocharged engines in its V8 models and moving towards hybrids with its V12s. Porsche offers an array of plug-in hybrids and is in the process of downsizing and turbocharging its naturally aspirated engines. Pagani switched from a big V12 in the Zonda to a smaller turbo V8 in the Huayra. Bugatti is expected to use electric turbochargers in its Veyron successor. And Lamborghini was recently reported to be considering a turbo five for the Huracan.