2009 Aston Martin Db9 Volante on 2040-cars

Auto blog

Aston Martin's lifeline buys carmaker time as SUV hits road

Canadian billionaire Lawrence Stroll and investors have rescued Aston Martin with a 500 million pound cash injection that analysts say will help stabilize the British carmaker whose first sport utility vehicle (SUV) is set to hit the road. Stroll agreed to buy up to 20% of the 107-year-old company and will become executive chairman of James Bond's automaker of choice, which has gone bankrupt seven times in its checkered history. A consortium led by Stroll will invest 182 million pounds($239 million), whilst major existing shareholders - primarily Italian and Kuwaiti private equity groups - will be part of a rights issue to raise 318 million pounds. "It likely gives them enough liquidity to tide them over for a couple of years," said Charles Coldicott, Redburn equity research analyst. Outgoing chairwoman Penny Hughes, who will be replaced by Stroll, spelt out the degree of trouble the firm has been in after core sales fell last year. "The difficult trading performance in 2019 resulted in severe pressure on liquidity which has left the company with no alternative but to seek substantial additional equity financing," she said. "Without this the balance sheet is not robust enough to support the operations of the group." Now Aston will need to turn the financial lifeline into part of a sustainable plan as it delays investment in electric vehicles and cuts its operating costs. A key future milestone includes around 1 billion pounds worth of debt due to mature in 2022. The company also suffers from lower gross margins than rival Ferrari, according to analysts at Jefferies, who have said scaling up is just as important as extra capital. Key to the company's success is its first foray into the lucrative SUV market, a late entrant compared to many rivals such as Volkswagen-owned Bentley and BMW's Rolls-Royce. Aston has built a new factory in Wales to make the model, known as the DBX, which it hopes will attract more women to the brand and some buyers to purchase both it and a vehicle from its traditional line-up. With the DBX model not due to roll off the production line until the second quarter of this year, the firm has taken the cost with only some of the benefit so far. Based in central England, Aston said earlier this month that it already had around 1,800 orders for the car which will retail for 158,000 pounds in Britain, a "materially better" rate than for any previous models.

2016 Pebble Beach Concours d'Elegance: It's all in the details

It's no secret that Pebble Beach is an ode to gorgeous, and mostly, classic cars. The car show may be a place for automakers to showcase extremely expensive cars to wealthy buyers, but it's also one of the go-to places for enthusiasts that love automobiles and culture. While it's easy to be overwhelmed by the overall beauty of a car, the real magic often needs closer inspection to be realized. Every car at Pebble Beach is a work of art, but the true beauty of the vehicles lies in the details. And Autoblog's photographer, Drew Phillips, managed to capture the details on some gorgeous cars. From the Lamborghini Miura's exquisite steering wheel to Rolls-Royce's Spirit of Ecstasy, it's all at Pebble Beach. We think the details on some of the cars are prettier than the cars themselves, but don't take our word for it. Check out the beautiful gallery above and enjoy the tiny bits and pieces behind some of the prettiest cars in the world. Related Video: Featured Gallery 2016 Pebble Beach Concours d'Elegance Details View 75 Photos Image Credit: Copyright 2016 Drew Phillips / Autoblog Misc. Auto Shows Aston Martin BMW Ferrari Lamborghini Rolls-Royce Pebble Beach

Aston Martin Vantage V12 Zagato goes back into limited production

To celebrate the 50th Anniversary of the Aston Martin DB4 GT Zagato in 2011, Aston Martin worked with Zagato Milano to create the Vantage V12 Zagato. Aston Martin made 101 of the special editions, available only as a coupe. This year, to celebrate the 100th anniversary of the Milanese design house, Swiss motorsport company AF Racing has commissioned 38 examples of the Vantage V12 Zagato, consisting of 19 coupes and 19 roadsters. The official name of the redux is Aston Martin Vantage V12 Zagato Heritage TWINS by R-Reforged. When Aston Martin originally announced production they planned to build 150 units, but for unknown reasons that number fell to 101 units. Since no specs have been mentioned, our guess is that the 6.0-liter V12 with 510 horsepower and 420 pound-feet of torque goes unchanged. As far as we can tell, the only differences between these new versions and the previous builds is that the coupe omits the rear spoiler, there's a wider selection of colors, and you can alternatively choose to take the top off. As for the entities behind this, the press release lays out a web of connections we're not totally clear on. The relevant matters are that AF Racing is a Swiss motorsport company that's a project partner on the Aston Martin Valkyrie, and it has a sub-brand called R-Reforged devoted to production-car projects. AF Racing owns a subsidiary in Germany called Vynamic that oversees four Aston Martin Vantage race cars competing in the German DTM Series. Vynamic will actually build the new V12 Zagatos. The rest of the tangled web doesn't matter. AF Racing says deliveries of the new coupes and speedsters will commence at the end of this year. No price has been mentioned, but the original coupes went for 330,000 pounds at the time, which would be $429,000 right now, and probably a good place to start.