2000 Aston Martin Db7 Vantage Convertible on 2040-cars

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Aston Martin skids in stock market debut

LONDON — Shares in luxury automaker Aston Martin fell as much as 6.5 percent on their market debut in London on Wednesday as investors and analysts raised concerns over Aston's ability to deliver an ambitious rollout of new models. The company, which last year made its first profit since 2010 and has gone bankrupt seven times, had priced its shares at 19 pounds each, giving it a market capitalization of 4.33 billion pounds ($5.63 billion). The shares fell to as low as 17.75 pounds. Aston Martin has plans to launch a new model every year from 2016 to 2022. "(It) has very aggressive growth plans. The execution of that growth needs to be flawless — nothing eats cash more than a car company when the cycle turns. There is concern that it's more cyclical than the commentary has been," said James Congdon, managing director of cashflow returns specialist Quest. "The banks have done a good job for their client — but there's no bounce." Aston is going all-in Aston Martin — full name Aston Martin Lagonda Global Holdings Plc — expects to produce around 7,100 to 7,300 cars in 2019, and 9,600 to 9,800 cars in 2020. It aims to increase production to 14,000 cars in the medium term, helped by new models and improving its manufacturing process. The company is investing all of its cashflow to try to achieve this, leaving nothing for dividends or paying down debt. "In terms of execution risk — this is what I've done for all of my career. I'm an engineer: we mitigate risk," Chief Executive Andy Palmer, who has led a turnaround plan at the company since 2014, told Reuters. Palmer played down risks to the business from Britain leaving the European Union, even as other car manufacturers step up warnings over a disorderly Brexit. He said Aston Martin was "relatively well insulated" from the effects of Brexit because Europe is not its biggest market and it may actually benefit from exporting with a cheaper pound. However, 60 percent of its parts are imported from the EU and will be hit by tariffs if there is no trade deal. "Obviously we'd all prefer no tariffs to be frank, no doubt, but the industry has to learn to adapt, and it always has adapted to changes," Palmer said. Valuation In 2017, Aston Martin had adjusted earnings before tax interest, depreciation and amortization (EBITDA) of 206.5 million pounds, up from 100.9 million pounds in 2016.

Porsche wins the 2015 24 Hours of Le Mans

The question going into this year's 24 Hours of Le Mans was whether or not the Porsche 919 Hybrid would be able to combine its qualifying pace with race reliability. After battling neck-and-neck with Audi's R18 for most of the race, the answer is a resounding yes. Not only did Porsche drivers climb the first two spots on the podium, they did so without any major mishaps on track. This win is the first overall trophy for Porsche since 1998. Audi previously won the last five races, and 13 of the last 15. Corvette also returned to the winner's circle, with the No. 64 C7.R taking winning the GTE Pro division. The victory is the first class win for Corvette since 2011. KCMG won the LMP2 class in ninth overall. With 45 minutes to go the No. 98 Aston Martin crashed out of first place in GTE Amateur, giving the class win to SMP Racing's Ferrari and second place to the Patrick Dempsey Racing Porsche 911 RSR. For the full list of official results, click here. The GTE Pro class proved to be just as exciting as the P1 class, with a four-way battle for first after four hours into the race. For most of the race, the battle at the top went back and forth between the two German manufacturers. An tire puncture in the No. 7 Audi gave up the lead to Porsche, and moments later a crash forced the No. 8 into the garage. But a three-minute replacement of the front and rear bodywork kept the Audi in contention. As the race wore into the night, Porsche maintained a slightly faster pace than Audi. Nick Tandy took the lead on Lap 253 early Sunday morning, and car No. 19 never gave up the top position. The win is the first for all three drivers of the No. 19 – Nico Hulkenberg, Earl Bamber, and Nick Tandy. A lap behind in second was the No. 17 Porsche. The Audis fought reliability problems late in the race but still finished third with the No. 7 R18. The GTE Pro class proved to be just as exciting as the P1 class, with a four-way battle for first after four hours into the race. As the Aston Martin cars dropped away, the lone Corvette Racing entry took over, followed by a charging AF Corse team Ferrari 458 Italia. The Corvette and Ferrari continued to trade places in the final hours until gearbox trouble forced the No. 51 Ferrari out of contention. It was eventually passed by the other AF Corse car, No. 71. Nissan experienced all the pain of a first-year effort with its front-wheel-drive GT-R LM Nismo.

Aston to show $99k V8 Vantage GT, special editions in NY [w/video]

Aston Martin has never been touted for the affordability of its cars, but with its new V8 Vantage GT, it's at least taking a stab at the concept. Priced at $99,900, the company probably feels like it's giving them away. Aston Martin says its Vantage GT is inspired by its long history in motorsports. Available as either a coupe or convertible (at extra cost), the GT packs the automaker's 4.7-liter V8 pumping out 430 horsepower and 361 pound-feet of torque capable of getting it to 60 miles per hour in 4.6 seconds and to a top speed of 190 miles per hour. Buyers can choose between either a seven-speed automated manual with magnesium paddle shifters or a traditional six-speed manual. Despite the stripped-down price, buyers aren't going to be missing many amenities in the GT. It comes standard with graphite-painted alloy wheels and black trim around the headlights side windows, exhausts and taillights. An optional graphics pack recalls Aston Martin's 24 Hours of Le Mans success with contrasting colors on the grille, mirror caps, rear diffuser and – on coupes – the A-pillar. The interior gets carbon-fiber sill plates, Alcantara door panels and sport seats from the V12 Vantage S. North American sales begin in the third quarter. The other new Aston slated for reveal at this week's New York Auto Show is the DB9 Carbon Edition, which is aimed at carbon fiber lovers. It adds loads of the stuff inside and out in a traditional mix of luxury and high performance. It begins as a standard DB9 with a 6.0-liter V12 rated at 510 hp and 457 lb-ft and a six-speed automatic transmission. The big engine cruises to 60 mph in 4.6 seconds and to a top speed of 183 mph. The Carbon Edition is actually separated into two different editions. Carbon Black models come in Carbon Black II exterior paint, and Carbon White models use Stratus White. Both come with a wide variety of carbon trim, including on the side strakes and taillight trim, with a black mesh grille and window trim accentuating the look. Buyers can also add an optional carbon fiber front splitter rear diffuser and mirror caps. Prices start at $199,995 and deliveries begin in the third quarter. Scroll down to get all of the details on the new Astons, and to see a Bloomberg video with Julian Jenkins, Aston Martin's president of the Americas, talking up his company's new entry-level baby. The video meant to be presented here is no longer available. Sorry for the inconvenience.