2022 Aston Martin Dbx on 2040-cars

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Aston Martin CFO departs as stock hits a record low, losses deepen

LONDON — Aston Martin shares slumped to a record low on Thursday after the British luxury carmaker said its losses ballooned last year and its chief financial officer would leave by the end of April. The firm, famed for being fictional agent James Bond's car of choice, posted a pretax loss of 104 million pounds ($135 million) last year compared with 68 million pounds in 2018 following a 9% decline in sales to dealers. Aston Martin is in the midst of restructuring after announcing last month that a consortium led by Canadian billionaire Lawrence Stroll would buy up to 20% of the company and existing shareholders would inject more cash. Its shares, which were listed in October 2018, have been on a steady downward trajectory ever since and hit a record low of 328 pence following the announcements on Thursday, more than 80% lower than their flotation price. "The big difference between last year and this year is the strength of the balance sheet," Chief Executive Andy Palmer told Reuters. "We're in a very different place and have therefore an ability to properly ... destock and that means get the balance right between supply and demand." Chief Finance Officer Mark Wilson will step down from his role no later than April 30 but had not been fired, said Palmer. Coronavirus impact China, Aston's fastest growing market, was a rare bright spot last year with sales rising 28% but the company, like the rest of the industry, has seen demand drop due to the coronavirus outbreak. The virus has infected more than 80,000 people and killed about 2,800, the majority in China, confining millions to their homes, disrupting businesses and delaying the reopening of factories after the extended Lunar New Year holiday break. Aston has seen disruption to the arrival of certain parts but said it had not had to stop production at its factories, with components secured until at least the end of March because it has no direct suppliers in China. "Since almost the first weeks of the New Year we've had issues with those Tier 2 and Tier 3 (suppliers) which have meant that our supply chain guys have had to be on it constantly," said Palmer. "We're ironically benefitting from the fact that we built up a Brexit stock," he said, in a reference to extra components the firm held in case Britain's departure from the European Union led to additional delays in the movement of goods.

Aston Martin DB11 is such a tease

Aston Martin would like to take a moment to remind you that it makes beautiful cars. Naturally, the model you're likely most interested in learning about is the upcoming DB11, which we're pretty sure will make its global public debut at the upcoming Geneva Motor Show in March. To make sure you don't forget, the automaker has created this handy teaser microsite. Although the video released by Aston Martin to go along with its teaser site doesn't actually mention one of its prettiest recent models, the DB7, it does hit some memorable highlights. Starting all the way back in 1950 with the introduction of the DB2, the British sportscar manufacturer has had a history of stunning coupes. Perhaps the most well-known of all is the DB5 of the Swingin' Sixties, made famous as the car James Bond drove as he eluded baddies in movies like Goldfinger. Granted, we already have an idea of what the new DB11 will look like, at least from the front, which makes dark and shady teasers like the one here a tad less interesting. No matter, we like what we've seen so far, and can't wait to take it all in once the coupe is released in all its official glory. Until then, let the teasing continue. Related Video:

2022 Aston Martin DBX Review | 2 exceptional cars for the price of 2

PORTLAND, ORE. – It is so easy to greet the Aston Martin DBX with a great big eye roll. Here we go again, yet another purveyor of beautiful sporting machines selling out to produce a bloated SUV that's utterly anathema to all the cars that came before. Yet another cynical brand exercise where some classic styling cues and a desirable badge are applied to someone else's SUV platform. And yet another SUV that's hopelessly compromised by those same brand affectations. Worse, this is Aston Martin. If you take away the DB5-derived body style and GT driving experience, what exactly are you left with? Aren't those the best reasons to buy one instead of a Porsche? In other words, the arrival of a $222,000 Aston Martin wasn't necessarily greeted by giddy clapping and the score of "Goldfinger" turned up to 11. Skepticism would be the word. Yet, immediately, it started to erode. It may be an SUV and certainly bloated compared to a Vantage, but it sure is pretty. And not just because of that trademark grille and Vantage-like ducktail. It's all about the proportions. The pronounced body-length shoulder line and inboard fastback greenhouse may evoke Aston's cars, but it also avoids the tall, slab-like profile of a Porsche Cayenne and most other SUVs. The wheels are pushed to the corners, elongating the body and creating the sort of long hood, short deck proportions one expects from a two-door GT and definitely not an SUV. Even without the styling cues, the thing looks like an Aston Martin. The DBX is also not on "someone else's SUV platform," it was created by Aston Martin for Aston Martin. So unlike the Bentley Bentayga, Lamborghini Urus and earlier Cayennes, Aston Martin didn't need to contend with the sort of existing, unchangeable hard points that lead to awkward proportions. This can also have practical benefits. Take that elongated wheelbase, for example, which is 2.6 inches longer than the Bentayga's despite the entire DBX being 3.4 inches shorter. Much like the similarly from-scratch Jaguar F-Pace, I suspect Aston Martin made the DBX wheelbase so long for the aforementioned aesthetic reasons and because, unshackled by an existing platform, it could. Yet, like the F-Pace, the happy side effect to a long wheelbase is extra interior space. In the DBX, the amount of extra space is genuinely surprising. We fit an enormous Britax rear-facing child seat in the rear and had the front passenger seat pushed far enough back for someone 6-foot-3 to comfortably sprawl out.