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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:

Aston Martin will make a profit for the first time since 2010

LONDON — Aston Martin is on course to post its first annual pre-tax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance. Pre-tax profit reached 22 million pounds ($29 million) in the first nine months of 2017, reversing a loss of 124 million pounds in the same period in 2016, Aston said on Wednesday. "Our strong financial performance and continued profitability reflect the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year," Chief Executive Andy Palmer said. Asked on Monday whether the firm would be in the black this year, Palmer told Reuters: "It's our intention to be." Aston Martin, which is mainly owned by Kuwaiti and Italian private equity firms, last posted a profit in 2010. Its losses then grew, partly due to lack of new models, a high-profile recall and an extended period without a chief executive. Since Palmer's appointment in 2014, the firm has pursued a turnaround plan designed to boost its model lineup, quadruple volumes and produce its first SUV at a new plant in Wales, setting up a possible stock market flotation. Volumes rose 65 percent to 3,330 cars in the first nine months of the year, prompting the firm to raise its full-year guidance to expect core earnings of at least 180 million pounds on revenue of over 840 million pounds. Third-quarter profit stood at 0.8 million pounds, reflecting a quieter period across the car sector when demand falls as people take holidays and some customers prefer to wait until after the vacation period to have their cars delivered. On Tuesday, the firm launched its new Vantage model, which will take its output to 7,000 sports cars in 2019, its highest level in a decade. Related Video:

All-new Aston Martin Vantage turns up the volume

The Aston Martin Vantage is the storied British marque's volume car. And with the unveiling today of an all-new model, that volume just got turned up. "The new car starts where V12 Vantage, not V8, left off," says Miles Nurnberger, Aston's head of exterior design, as he walks us around the production car in an intimate advance viewing at the brand's rural UK headquarters. He is referring to the top-of-the-line, end-of-the-run, 12-cylinder, stick-shifted, spoiler-bedecked analog anachronism that was a limited-edition sendoff for the outgoing car, which had been on sale for more than a dozen model years. (To say that the previous Vantage was long in the tooth is a reckless overestimation of the lifespan of teeth.) From a purely visual perspective, we cannot argue with him. The new Vantage is immediately recognizable as an Aston Martin — with the signature hill-climb grille, sensuously crisp hood, mesomorphic flanks, squinting greenhouse and tucked tail. But the car can almost be heard, seething, with one's eyes. First off, the hue the brand has selected as a launch color, Lime Essence, looks like ionized absinthe. Additionally, the car is rimmed along its ground-hugging nether regions, from chin to rear, in a be-pronged sinew of starkly contrasting polished carbon-fiber aero effects. It sneers menacingly through narrowly horizontal, selachian eyes. It flashes a triangular carbon burgonet on each cheek, armor potent enough to ward off a Napoleonic cuirassier. And its rear is a war of stark bladelike protrusions, like the final battle sequence in a chop-socky movie. "If the DB11 is a gentleman," Nurnberger explains, "the Vantage is a hunter." Its nose is to the ground, scanning the distance for something to trounce." "It's the color of a predator in nature," explains Aston's straight-talking CEO, Andy Palmer. "Look at a wasp. Its colors warn, stay away." Not drawing the ire of other motorists is, in our opinion, one of the chief advantages of driving an Aston, especially versus some of its flashier (Italian) competitors. Apparently, Aston is aware of this and also offers the new Vantage in a more subdued palette and trim. We'd spec ours in a more traditional color, like grayish Hardly Green, with satin titanium trim and body-color zygomatic implants.