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Aston Martin to open test center at Silverstone, British racing's Mecca

LONDON — Aston Martin will open a test and development center at Silverstone, the home of British Formula One racing, as the luxury carmaker continues to expand ahead of a possible stock market offering. James Bond's car brand of choice is undergoing a turnaround plan designed to boost its model lineup, quadruple volumes and produce its first sport utility vehicle at a new plant in Wales. The firm, which sponsors the Red Bull Formula One team, said its Silverstone site would open in October and employ 60 people. Many Formula One teams have been based close to Silverstone in central England, leading the area to become known as motorsport valley. Silverstone hosted the first Formula One championship race in 1950. "The company is now investing for growth across the Aston Martin and Lagonda brands," said Chief Executive Andy Palmer in a statement, also announcing the opening of a central London office. Aston said the new locations would help increase the firm's total workforce by over half to 5,000 by the end of 2022. After six years of losses, Aston Martin swung to a pretax profit in 2017, and the company has said it is considering a stock market IPO, which sources have told Reuters could come as soon as this year. Reporting by Costas PitasRelated Video:

What we'd buy in 1985 (if extremely rich and nutty): the Aston Martin Lagonda

The Barn Miami, a Florida specialty dealer in unique and exotic cars, has just listed this 9,000-mile, two-owner, 1985 Aston Martin Lagonda. Priced at $75,000, it seemingly represents not only a bargain (original list price was $150,000, or around $360,000 in today’s money) but an investment opportunity, and a chance to own one of the most iconic and controversial designs in all of automotive history. When the Lagonda was launched in 1976, the storied British marque had fallen on hard times. Sales figures, build quality and employee morale were at a nadir, and the brand needed a big new idea. Aston turned to in-house designer William Towns, who had taken the brand out of the debonair, if increasingly anachronistic, DB2/4/5/6 styling paradigm with his creasy DBS of 1969. Towns delivered an outrageous wedge of ultra-luxury sedan, with a miniscule rectangular grille, a plank-like prow, steeply angled pillars, and a truncated trunk. A 280-horsepower quad-cam, quad-carb 5.3-liter V8 put power to the rear wheels via a Chrysler three-speed automatic transmission, yielding single digit fuel economy. And the lunacy continued on the inside, with one of the industryÂ’s first digital dashboards, the first application of touch-sensitive controls, and an odd sunroof above the rear passenger compartment. “I think this was the way of the company getting itself back on track with a completely new and revolutionary model,” says Paul Spires, the director of Aston Martin Works, the brandÂ’s in-house heritage and restoration shop, housed at the factory in Newport-Pagnell where the Lagonda was originally built. “In the second half of the 1970s, Rolls-Royce was enjoying success with its Silver Shadow and Bentley models, but there were very few other true high luxury sedans to choose from, and there was definitely a demand for something different and modern.” Different and modern, indeed. The Lagonda was at the hemorrhaging edge of the eraÂ’s electronic capabilities, featuring systems that are still getting the bugs worked out of them 40 years later. “When we look at many modern cars with touchscreen technology, you can perhaps see where the far-sighted and ambitions designers and engineers who created this car were looking,” says Spires.

Weekly Recap: New bosses try to jump-start Cadillac and Lincoln

Both of America's domestic luxury brands seem to be stuck in neutral.
It's ironic that Cadillac and Lincoln got new bosses within days of each other this month. It's also a commentary on the fact both of America's domestic luxury brands seem to be stuck in neutral.