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Aston Martin shares plunge to new low following half-year loss

LONDON — Shares in Aston Martin plunged 17% to a post-flotation low on Wednesday after the luxury British carmaker slumped to a half-year loss, the latest automotive firm to be hit by falling demand in Europe. Aston Martin, best known as James Bond's favorite marque, has been undergoing a turnaround plan since Chief Executive Andy Palmer took over in 2014, designed to renew and boost its model line-up and move into new segments. The plan led to an autumn 2018 stock market flotation. But its shares have since fallen by around three quarters from their 19 pounds float price to below 5 pounds, hit most recently by the group's weak performance in Europe, the Middle East and Africa, where half-year demand fell by nearly a fifth. The group posted a pretax loss of 78.8 million pounds in the six months through June from a 20.8 million pound profit in the first half of 2018. Its shares were down 17% at 4.71 pounds by 0748 GMT. "We are disappointed that our projections for wholesales have fallen short or our original targets, impacted by weakness in two of our key markets as well as continued macro-economic uncertainty," Palmer said. Overall wholesale demand grew by 6% in the first six months as the group posted strong increases in the Americas and Asia, but a decline in Britain and the rest of the continent prompted the carmaker to cut its full-year forecast. Aston has also been hit by expansion costs as it builds a new factory in Wales to make its first sport utility vehicle, and a lower average selling price. The company said that if it requires some additional financing it would pursue the funds from sources such as the debt markets. The global car industry has been hit by weakening demand in China and a drop in demand for diesel vehicles in Europe, as well as the cost of electrification. Nissan reported plunging profits last week and said it would undertake its biggest restructuring plan in a decade, axing nearly a tenth of its workforce. But 106-year old Aston also faces the risk of a disorderly Brexit disrupting its wholly British production, as delays at ports due to new bureaucracy could slow down the movement of vehicles and components. "We do not want a no-deal Brexit because of the disruption that causes to issues at the border," said Palmer.

'Top Gear' takes us inside the Aston Martin Project 003

"Top Gear" magazine's Jack Rix might be the ideal lad to lock in a room with a cool car and a camera. After taking us on tours of the Mercedes-AMG One and Honda Urban EV concept, he's wandered into another anteroom with the Aston Martin Project 003 and Vanquish. When we saw the mid-engined coupes at the Geneva Motor Show, it looked like Aston Martin programmed the Valkyrie family's design language to "softer" on the RMB-003 and "softest" for the Vanquish. We wanted more details. Cue Mr. Rix. The deputy editor fills us in on trivia like the combined weight of the Project 003 headlights and taillights being less than the weight of a single DB11 headlight. He also shows us how the NASA-aided FlexFoil wing works, and where the potential rear-view cameras would be mounted. Then he gets inside an interior that's "a bit more civilized" than that on the Valkyrie for not putting hip level beneath knee level. However, notice that here, too, the seat is built into the carbon fiber tub — the end of the seat bolster is flush with the footwell. And check out those vents that triple as speakers and ambient lighting. Rix can only walk around the Vanquish, since that car's not due until 2022, a year after the Project 003. Nevertheless, there are plenty of Easter eggs to share, like how design elements from front-engined Aston Martins have been integrated throughout the mid-engined bodywork. As a bonus feature, Aston Martin has taken a separate look at Valkyrie development through the eyes of high-performance test driver Chris Goodwin. The racer explains how he's using the Red Bull Formula 1 team's simulator to tune the Valkyrie road car's handling, active suspension, and aerodynamic systems. Goodwin was McLaren Automotive's test driver and worked on the Speedtail, so it could mean something when he says of the Valkyrie, "It's going to be a substantial gap between this car and what's currently available on the market."

Aston Martin DBS Superleggera Concorde Edition celebrates airspeed

This year is the 100th birthday of British Airways, as well as the 50th anniversary of the first flight for the Aerospatiale/BAC Concorde supersonic passenger jet. Today marks the 16th anniversary of the Concorde's final hop, when Concorde 216 registered as G-BOAF flew from Heathrow to Bristol, England, with 100 BA employees on board, to roll into a display space at the Aerospace Bristol museum. That same plane was the last Concorde built, coming off the line in 1978 at BAC Filton Bristol. To celebrate the plane and BA and its aerospace neighbor, Aston Martin Bristol commissioned 10 special editions called the DBS Superleggera Concorde. Pieced together with the expertise of Q by Aston Martin, the coupe is the latest in Aston Martin's aviation-inspired Wings Series specials, following the Vanquish S Red Arrows Edition, Vantage Blades Edition, and V12 Vantage S Spitfire 80. Dressed in white, the coupe gets ornament in British Airways livery colors on the front splitter, roof strake, rear spoiler, rear diffuser, and inside the Aston Martin wings badge. A Concorde graphic decorates the black, carbon fiber roof, and a Concorde-shaped chunk of solid aluminum streaks through the side strakes. The British Airways "Speedmarque" logo is on the front fender above the black enamel Q by Aston Martin badge, the rear fenders wearing registration G-BOAF.    Printed Alcantara on the Superleggera's cockpit headliner displays a sonic boom graphic, the front visors get mach meter graphics, the front seats show off Concorde and Speedmarque logos. Pieces of titanium compressor blades from the supersonic bird have been turned into paddle shifters, and embossed solid aluminum seatbelt buckles shine the Concorde again. The floor mats adopt a design by Sir Terence Conran, he being one of three designers commissioned to upgrade the Concorde's interior not long before the jet went out of service. The 5.2-liter V12 engine holds steady at 710 horsepower and 664 pound-feet of torque, plenty of thrust for booming travel on the ground. Aston Martin Bristol says it will donate part of the proceeds from each sale to the Air League Trust, a nonprofit that teaches underprivileged children how to fly and helps open doors for them into engineering professions.