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Major Aston Martin shareholder cuts stake in British carmaker

A top Aston Martin shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday. Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake of 14.99% in Aston Martin as of May 29, compared with its previous stake of 19.92%. It was not immediately clear why the fund cut its stake.  Investindustrial is the company's second-biggest shareholder after Canadian billionaire Lawrence Stroll, according to Refinitiv Eikon data. The 107-year old luxury carmaker in May posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. Aston Martin and the PE firm did not immediately respond to requests for comment. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva) Related Video:

Aston Martin Brough Superior AMB 001 starts testing, shows off new color

Aston Martin announced last fall it would be dipping a toe into the motorcycle world with the help of bike builder Brough Superior. The first bike is the AMB 001, and it's finally undergoing track testing and development. The turbocharged 180-horsepower motorcycle is shown on video powering around a race track. It offers a good look at the bike's double-wishbone girder-style front end in action, a signature of Brough Superior bikes. Aston Martin Brough Superior AMB 001 View 5 Photos Besides a look at the bike on track, the two companies showed a version of the bike with dark red tinted carbon fiber panels. It also has some spiffy red brake disc spokes. We also get a close look at the instrument display, which actually appears to be on a smartphone that fits in a slot on the tank. Not many other details have been revealed. The companies announced they would only build 100 examples of the AMB 001. Each one will cost 108,000 Euros — or just shy of $120,000 — and they'll be delivered at the end of the year. Related Video:

Aston Martin opens new factory to build key first SUV

ST ATHAN, Wales — Aston Martin opened a new factory in Wales on Friday to build the British automaker's first sport utility vehicle, key to its hopes of a turnaround after a poor performance this year sent shares tumbling. Aston launched its DBX model last month, hoping that more female buyers will help boost sales after a year in which it has so far posted a pre-tax loss due to weaker-than-expected demand for its sports cars, particularly in Europe. "The opening ... is a hugely important milestone in the companyÂ’s growth plan and integral to our ambitions as a global luxury brand with a presence in all major sectors of the market," said Chief Executive Andy Palmer. The St Athan site near Cardiff in south Wales is the 106-year-old firm's second car plant after its existing site in Gaydon, central England. Aston has seen its share price fall by around 75% since a stock market flotation in October 2018 as the global automotive industry faces the challenge of falling demand in several important markets and the need to spend more electrification. On Thursday, Autocar magazine reported that Canadian billionaire Lawrence Stroll, owner of Formula One team Racing Point, is preparing a bid for a major stake in Aston Martin, prompting its shares to rally. Aston declined to comment on the report.   Featured Gallery 2021 Aston Martin DBX: L.A. 2019 View 40 Photos Plants/Manufacturing Aston Martin SUV