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Aston Martin speeds ahead with October IPO worth perhaps $6.7 billion

LONDON — Luxury British carmaker Aston Martin is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from its stock market flotation and has taken steps to prepare for any eventuality over Brexit, it said on Thursday. The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so for decades. The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct. 3. It expects its shares to be admitted to the London Stock Exchange on or around Oct. 8. Carmakers have warned about the impact of any customs checks introduced as a result of a no deal or hard Brexit which could slow down production and add costs when Britain leaves the bloc in March 2019. The boss of Aston, which builds all its cars in Britain, said the company had boosted its stock of engines and components in case free and unfettered trade with the European Union ends in a few months' time. "We're up to five days of engine stock for example and we've got a very large warehouse in Wellesbourne (in central England) where we have at least five days of car stock," Chief Executive Andy Palmer told Reuters, an increase from the previous three days' worth of components held by the firm. "If there are tariffs ... for every car we lose because of a 10 percent tariff into Europe, we presumably pick up from Ferrari and Lamborghini in the other direction because obviously their cars become more expensive in the UK," he said. London and Brussels hope to conclude a Brexit agreement by the end of the year, but fellow carmakers such as BMW and Jaguar Land Rover (JLR) are worried that failure to agree could lead to snarl-ups at motorways and ports, disrupting production. JLR boss Ralf Speth warned last week that the wrong Brexit deal could cost tens of thousands of car jobs and risk production at the firm, Britain's biggest carmaker. Aston, which has set a price range of 17.50 pounds to 22.50 pounds per share for the 25 percent of stock it is floating, is targeting a market capitalization of between 4.02 and 5.07 billion pounds. The carmaker, which has long said it could pursue a listing, has undergone a turnaround plan since Palmer took over in 2014 as it boosts its volumes and expands into new segments with a new factory due to open in 2019.

Aston Martin creates custom Vanquish series in smooth carbon

In a demonstration of just how extensively it can cater its vehicles to the customer's specific tastes, Aston Martin has done up a special series of Vanquishes at the request of an individual customer. Carried out through the Q by Aston Martin customization service, the Vanquish "One of Seven" edition is distinguished by its unique carbon-fiber bodywork. The order required Aston to develop a new manufacturing process to weave the fibers in multiple layers for a perfectly smooth finish. The resulting exposed carbon bodywork is complimented by satin black trim, custom diamond-quilted seats, and machined carbon logos, for a complete Darth Vader, murdered-out look. As the name suggests, only seven examples will be made, with the first delivered to one Markus Storck, head of high-end bicycle manufacturer Storck Bikes. The remaining examples will be delivered to "six fellow sports car aficionados." Related Video: Q BY ASTON MARTIN CREATES A UNIQUE VANQUISH COLLECTION - Seven bespoke sports cars commissioned by collector - Carbon fibre-themed personalisation pushes manufacturing boundaries - Painstaking process to design, engineer and build the luxury models 1 June, 2015, Gaydon: The Q by Aston Martin bespoke personalisation service is celebrating the fulfilment of a longstanding ambition for sports car enthusiast and businessman Markus Storck. Dr Matthew Bennett, General Manager of VIP sales and Q by Aston Martin personalisation service, delivered the first of seven uniquely built Vanquish Coupes to the German collector at an event held at the luxury marque's headquarters in Gaydon. Mr Storck, founder and head of German hi-tech bicycle manufacturer Storck Bikes, commissioned the Q by Aston Martin team to develop the special 'One of Seven' Vanquish sports cars for himself, and six fellow sports car aficionados. Boasting a broad array of bespoke features including an exclusive exterior finish that sees multiple layers of carbon fibre cleverly interwoven to a perfectly smooth finish – a result that required Aston Martin to develop an entirely new addition to its manufacturing process – the seven Vanquish are sure to become collectors' items in years to come. Matthew Bennett said: "The process of creating these sports cars has been typical of what Q by Aston Martin can deliver.

15-year-old Russian footballer crashes Aston Martin he's owned for 3 days

You wouldn't expect a 15-year-old boy to have the driving experience required to tame an Aston Martin, and things went just as you would suspect for one young, Russian soccer player who fits that description. It only took three days before the teen reportedly collided with a Volkswagen Tiguan at an intersection in Saint Petersburg, Russia. To make matters worse, the boy allegedly fled the scene afterward because he didn't have a driver's license. The purported driver was Konstantin P., a goalkeeper for the Zenit-84 soccer team, according to Life News from Russia. The teen told the website that the Tiguan came out of nowhere at around 50 miles per hour (80 km/h). He was driving into the intersection and claimed to be going about 25-30 mph (40-50 km/h) when they collided. No one was reportedly hurt in the incident. Konstantin allegedly bought the Aston Martin with his own money, but he might not have been responsible enough to actually drive it. According to CarScoops, he's now facing potential charges from the incident. News Source: Life News, CarScoopsTip: CarScoops Weird Car News Aston Martin Coupe Performance vw tiguan