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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.

Aston Martin says its fleet will go all-hybrid

British luxury carmaker Aston Martin says it plans to convert its entire six-car lineup to hybrid powertrains, with CEO Dr. Andy Palmer telling the Financial Times (subscription required), "We will be 100 per cent hybrid by the middle of the 2020s" and that 25 percent of all Aston Martins will be fully electric "by the end of the next decade." In June, the company announced it will produce the RapidE, its first all-electric car, in 2019, with a limited production run of 155 cars. The Rapide S, the model it's ostensibly based on, starts around $204,000. "RapidE represents a sustainable future in which Aston Martin's values of seductive style and supreme performance don't merely co-exist alongside a new zero-emission powertrain, but are enhanced by it," Palmer said in the statement. "The internal combustion engine has been at the heart of Aston Martin for more than a century, and will continue to be for years to come. RapidE will showcase Aston Martin's vision, desire and capability to successfully embrace radical change, delivering a new breed of car that stays true to our ethos and delights our customers." Palmer also told FT that while the company plans to source battery cells from overseas, it will develop its electric systems in-house. It is working with Williams Advanced Engineering in England on EV systems integrations for the RapidE. Aston is just the latest of a long line of automakers to announce electrification plans. Notably, Volvo recently announced that it would add some form of electrification to its entire fleet by 2019. Related Video:

2018 Aston Martin DB11 AMR Review | A private world of comfort and speed

There are moments when miniscule adjustments to something wonderful can yield unforeseen enhancements. The addition of a dash of Maraschino liqueur to a perfect Manhattan. The application of a few Newton-meters more pressure in a deep tissue massage. Gold-plating the wire wheels on your Commodore Blue Continental Package-equipped 1985 Cadillac Eldorado Biarritz Convertible. So it is with the Aston Martin DB11 AMR, a slight tweak to the Aston Martin DB11 V12 — already one of our favorite grand tourers. The non-AMR DB11 hosts the ideal combination of profligate luxury, recherche exclusivity, and muscular performance. (The V8 is also ... fine.) But Aston Martin's new AMR performance sub-brand has drizzled its speed effluent onto the DB's componentry and software. The result borders on transcendent. AMR was launched at the Geneva Motor Show in 2017 as the storied British marque's go-fast subsidiary (its M or AMG, if you will). Inspired in name, if not in mission, by the Aston Martin Racing team, it has already resulted in the AMR-ization of a half-dozen Aston vehicles including iterations of the Rapide, Vulcan, Valkyrie, and previous-generation Vantage. The $241,000 DB11 is the seventh in that series, and it will take the place of the "base" DB11 V12 when it appears in the states later this summer. Since Aston recently opened the first of its fancy-pants AMR Performance Centers adjacent to Germany's famed Nurburgring racetrack, it seemed fitting that our test drive of the new car commence there. We snagged the DB's crystal-tipped key fob and spent a couple days tearing everywhere in the Rhineland region that wasn't the "Ring," including narrow wending mountain roads, expertly paved two-lane byways, and unlimited Autobahn uber-highways. AMR's sorcery has, as noted, yielded relatively small changes on paper. The twin-turbocharged 5.2-liter 12-cylinder now makes just 5 percent more horses, for a total of 630. The dampers and springs have been stiffened by about 10 percent, the anti-roll bars front and rear by half that and half again. More rigid engine and transmission mounts have been added for greater stolidity. The transmission has been remapped for increased differentiation across the GT, Sport, and Sport Plus driving modes, selectable via a switch on the right side of the steering wheel.