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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.

Aston Martin's Vanquish S Red Arrow aerobatics special edition is a stunning tribute

Aston Martin's in-house custom car division, Q, has just revealed its latest model, the Aston Martin Vanquish S Red Arrows Edition. The Vanquish is themed around the Red Arrows, a British aerobatics team like the American Blue Angels. The connection to the team starts from the outside, with a bright, gloss red paint job with white and blue accents on the carbon fiber trim to replicate the look of the Red Arrows' planes. The badges have red, white, and blue enamel to evoke the Union Jack flag, and a white stripe along the side is meant to look like the smoke trails left by the planes. Inside, the interior is finished in black leather with khaki green leather inserts and matching seatbelts. According to Aston Martin, this color scheme echoes the flight suits worn by the Red Arrows team. The flight team's logo, which shows their diamond-shaped flight formation, is embroidered into the seat backs. The door panels also receive custom embroidery, which shows the "Vixen Break" maneuver. This particular Vanquish S loses its rear seats to make space for a pair of racing helmets that come with the car. The helmets are painted in Red Arrows colors. In addition to the helmets, Aston Martin will include scale models of the car and a Red Arrows plane, a racing suit, embroidered bomber jacket, and a custom luggage set. In keeping with the Red Arrows theme, only nine of these cars will be sold, one for each member of the aerobatics team. Each car will also be signed by the corresponding Red Arrows pilot. Aston will build a tenth car that will be donated to the RAF Benevolent Fund, which helps support veterans and their families. Related Video:

Final Spectre trailer drops, still looks awesome

Well, here we are. After all the teasers, behind-the-scenes photos and videos, and wrecked Aston Martins, we have the final trailer for the newest James Bond flick, Spectre. Through all the leaks and other trailers, we've got a pretty good idea as to how many vehicular set pieces there will be when Spectre hits trailers. Obviously, the premiere spot will be the chase between 007's Aston Martin DB10 and the Jaguar C-X75 of baddy Mr. Hinx, while there looks to be a wintry exchange featuring a Range Rover Sport SVR, some Defenders, and a plane. This trailer also shows some kind of pickup truck – we're guessing it's a Toyota Hilux – t-boning an older Jaguar XJ, which we think is new footage. Of course, there's a lot more action beyond the automotive variety. There's a helicopter sequence, gunfights, a building collapse, and we get our very best look at the film's main villain, played by a Max von Sydow/Blofeld-channeling Christoph Waltz. Check out the trailer, available at the top of the page. Spectre hits US theaters on November 6.