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Aston Martin skids in stock market debut

LONDON — Shares in luxury automaker Aston Martin fell as much as 6.5 percent on their market debut in London on Wednesday as investors and analysts raised concerns over Aston's ability to deliver an ambitious rollout of new models. The company, which last year made its first profit since 2010 and has gone bankrupt seven times, had priced its shares at 19 pounds each, giving it a market capitalization of 4.33 billion pounds ($5.63 billion). The shares fell to as low as 17.75 pounds. Aston Martin has plans to launch a new model every year from 2016 to 2022. "(It) has very aggressive growth plans. The execution of that growth needs to be flawless — nothing eats cash more than a car company when the cycle turns. There is concern that it's more cyclical than the commentary has been," said James Congdon, managing director of cashflow returns specialist Quest. "The banks have done a good job for their client — but there's no bounce." Aston is going all-in Aston Martin — full name Aston Martin Lagonda Global Holdings Plc — expects to produce around 7,100 to 7,300 cars in 2019, and 9,600 to 9,800 cars in 2020. It aims to increase production to 14,000 cars in the medium term, helped by new models and improving its manufacturing process. The company is investing all of its cashflow to try to achieve this, leaving nothing for dividends or paying down debt. "In terms of execution risk — this is what I've done for all of my career. I'm an engineer: we mitigate risk," Chief Executive Andy Palmer, who has led a turnaround plan at the company since 2014, told Reuters. Palmer played down risks to the business from Britain leaving the European Union, even as other car manufacturers step up warnings over a disorderly Brexit. He said Aston Martin was "relatively well insulated" from the effects of Brexit because Europe is not its biggest market and it may actually benefit from exporting with a cheaper pound. However, 60 percent of its parts are imported from the EU and will be hit by tariffs if there is no trade deal. "Obviously we'd all prefer no tariffs to be frank, no doubt, but the industry has to learn to adapt, and it always has adapted to changes," Palmer said. Valuation In 2017, Aston Martin had adjusted earnings before tax interest, depreciation and amortization (EBITDA) of 206.5 million pounds, up from 100.9 million pounds in 2016.

Aston Martin DBS Superleggera Volante caught out in the rain

We've had the pleasure of driving the Aston Martin DBS Superleggera, with its 5.2-liter twin-turbo V12 making an astonishing 715 horsepower and 664 pound-feet of torque. The only drawback was not getting full exposure to the alpine air as we sped down the Autobahn. We've seen spy shots, though, of a DBS Superleggera Volante that could provide that experience, but it was still wearing camouflage. Now, our spy shooters have caught the convertible in testing, giving us a good look at the car. It was rainy as the car prowled around near the Nurburgring, so the convertible top was kept closed. It still looks sleek as all heck, with sheets of water dripping from its tires and aerodynamic bits, fallen leaves trapped in the grille. The convertible top maintains the tight and low roofline of the coupe, but it significantly shrinks the rear window. But that visibility issue would be eliminated with the top dropped. Under the hood and the rest of the sheetmetal, we expect this to maintain all the mechanical goodness and sporty prowess of its fixed-top stablemate. We're not sure when the official debut of the grand touring convertible will take place. We're hoping we'll have the chance to test it out before the fall leaves and drenching rains arrive in 2019. Related Video:

Aston Martin proves the battery-electric Rapide E prototype can drive

On April 2, 2015, we wrote a report detailing an electric version of Aston Martin's Rapide sedan that could launch in two-to-three years. Today, January 25, 2019, we are here to post a video of the electric Rapide E prototype driving on its own for the first time. Chalk that long wait up to Aston's high bar of making it feel like a V12, the fact that it's Aston's first EV, and the company's thorough testing regimen. President and CEO of Aston Martin Andy Palmer took to Twitter to share with his followers "a moment of Aston Martin history." The video showed the first validation prototype of the Rapide E, the electric variant of the four-door performance car, moving under its own power. This was no Tesla Roadster warehouse video showing its incredible performance. It was simply the first footage of the Rapide E in slow action in a parking lot. ....and by coincident on 21/01/2019, at 8:14pm, another piece of @astonmartin history was made...... but quite what will remain a tightly held secret for now — Andy Palmer (@AndyatAston) January 21, 2019 This past September, Aston Martin officially announced it would build a limited run of 155 examples of the Rapide E. Co-developed with Williams Advanced Engineering, the Rapide E uses two electric motors to make 610 horsepower and 700 pound-feet of torque. It has a top speed of 155 mph and can do 0-60 mph in less than four seconds. Its WLTP range target is said to be over 200 miles, and an hour of charging is good for 185 miles, using a 400V, 50-kW charger. Aston says the car's 800V battery system can also be charged with a 100-kW+ charger at a rate of over 5 miles per minute. In addition to the video, Palmer commented that a second mark of Aston history occurred, but that it will remain a "tightly held secret for now." Expect the first Rapide Es to launch in the fourth quarter of 2019. Related Video: