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Aston Martin eyes US market for growth

Aston Martin chief executive Andy Palmer is sitting in a rustic Tuscan villa on a sweltering summer night, but his mind is thousands of miles away. He's ruminating on the United States, a lucrative market that could secure Aston's future as an automaker that has proved elusive for decades. The reason? Aston has an identity crisis. Sure, Americans know what Aston Martin is. Mostly. Palmer compares it to the British game of cricket. Many Americans have heard of it. They might even have a vague notion of what it is, but that's about as far as things go. It's the same with Aston. Candidly, Palmer places the blame squarely on his company, admitting Aston executives have been complacent about America. "We've got some work to do in the United States. I think we have assumed that you guys get it because you speak our language," he told a group of mostly US journalists at the launch of the 2017 DB11. That ends now, Palmer said, and Aston's plan to fix the problem will come into sharper focus with the launch of the DBX crossover for 2019. The utility vehicle was designed for an American buyer because the US market is SUV heavy. The target consumer? Someone named Charlotte, a 42-year-old from Southern California. Palmer describes her as someone who wants an elevated ride height and functionality. "She's looking for that safe, secure feeling," Palmer said. The company is adding 750 people and building a factory in Wales to produce the DBX. The site will be able to make 7,000 units annually, which dovetails with Aston's goal of making 7,000 sports cars per year. It's an ambitious plan for a company that made 3,615 cars in 2015 and posted an operating loss. This potential growth is still a few years off, meaning the brand's new DB11 must be a success. Early signs are trending well, and Aston had taken 2,000 orders by the end of June. After that, the company will redesign the Vanquish and Vantage and add the usual open-top variants. Aston's investors have already funded the sports cars and the DBX, and product development spending rose 40 percent in 2015. Aston's ownership group includes a Kuwaiti consortium, Italian backers, and a minority stake held by Daimler, which provides technology like infotainment and V8 engines. In total, Aston plans seven new vehicles in six years.

Spectre shreds $37 million in cars

Much as you can't make an omelet without breaking a few eggs, you apparently can't film a James Bond movie without trashing a few cars. And by "a few cars," we actually mean $37 million worth. That's how much the producers of the all-new 007 flick, Spectre, trashed in the process of filming. And yes, that's a record. "We set the record for smashing up cars on Spectre," stunt coordinator Gary Powell told The Daily Mail (with what we can only imagine was a very boastful grin). "In Rome, we wrecked millions of pounds worth. They were going into the Vatican at top speeds of 110 [miles per hour]. We shot one entire night for four seconds of film." But because this was Bond, producers didn't just destroy $37 million worth of budget hatchbacks. Instead, seven out of ten specially produced Aston Martin DB10s were sacrificed in the name of cinema, including a major crash sequence featuring Rome's Colosseum, River Tiber, and the Vatican. American filmgoers will be waiting until November 6 to see if the destruction of all those Aston Martins was worthwhile. Somehow, we don't think anyone is going to be disappointed. Related Video: News Source: Daily Mail via Vanity FairImage Credit: Angelo Carconi / AP TV/Movies Aston Martin Coupe Luxury Performance spectre aston martin db10

Geely in talks to take a stake in Aston Martin

China’s Geely Automobile Holding held talks with Aston Martin management and investors as it considers investing into the British luxury carmaker, the Financial Times reported on Friday. Geely is conducting due diligence as it looks at taking a stake in the 107-year-old UK firm, which warned earlier this week its 2019 profits would by cut nearly in half due to weak European markets. Another report out today said that Aston had canceled its RapidE electric car because of its financial situation. Geely owns controlling stake in another British car company, Lotus, and also the London EV Company, which makes London cabs. It also owns Volvo and a nearly 10% stake in Daimler. Aston Martin was not immediately available for comment. Geely did not immediately respond to a request for comment.  Related Video:     Earnings/Financials Green Aston Martin Geely