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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.

Behold the Aston Martin SUV: Officially named DBX, coming in 2019

It's official. The Aston Martin DBX SUV is named and it's on its way, folks. Oh, and Aston really wants you to know it can drive on dirt. Every official photo we have of the thing shows it doing something off the pavement. In other definite news on the SUV, it will be revealed in the last quarter of 2019 and be built at Aston Martin's new St. Athan factory in the U.K. Everything else about the tall Aston will remain a mystery for now. But we finally have a decent look at what's coming. The most obvious feature is the V8 Vantage-style grille. It's the most outlandish and distinguishing styling element on the Vantage, but we're not so sure about it on the DBX. There's plenty that looks unfinished behind the fake grille-looking piece, so we wouldn't be prepared to say that the design is what we'll see on the production SUV quite yet. It looks like standard, boring SUV fare down the sides, but then it gets funky in the rear. To our eyes, it looks like there are two spoilers back there — one extending from the roof, then another ducktail-looking thing coming out of the hatch. Once again, the design doesn't strike us as fully-baked yet, so it's tough to say what the rear end is going to end up like. The little exhaust outlets poking out of the bumper are pretty cool, though. This prototype pictured is being put through a Welsh rally stage for testing purposes, one of many different environments in which Aston says it wants the DBX to excel. The other notable spot is the Nurburgring, but we'd expect an Aston Martin SUV to handle well. We don't think an electrified version is coming right away, but Aston is building it in the same factory it says will be the brand's "Home of Electrification." It's safe to assume a hybrid or fully-electric vehicle from Aston will be coming when we get to the next decade, especially with the way Aston is talking. Related video: Featured Gallery Aston Martin DBX prototype View 13 Photos Image Credit: Aston Martin Aston Martin Crossover SUV Luxury Off-Road Vehicles Performance aston martin dbx

You can buy this gorgeous one-off Aston Martin Jet 2 Bertone shooting brake

It was the last project built by Italian coachbuilder Bertone before it went bust, a one-off project designed and commissioned by the man who drove a 1954 Aston Martin DB2/4 around the world in 80 days, and now's your chance to buy it alongside the full-size clay model and fiberglass mold that preceded it. We’re talking about the Aston Martin Bertone Jet 2+2, a wagonized Rapide that we last saw at the Geneva Motor Show back in 2013. It was built in homage both to AstonÂ’s centenary and to mark six decades of cooperation between the automaker and the Italian design house. At the time, the identity of the client who commissioned it was kept secret. ItÂ’s being offered for sale by Barry Weir, the British motoring enthusiast famous for his four-continent, 22-country, 34,000-mile world rally record, set in 2000. He designed the shooting brake based on the Rapide saloon, added a rear hatch, full-length tinted glass roof and sliding rear floor, and got it approved by Aston, which reportedly intended to put the car into production after Bertone built 10 of them. But that never happened, as Bertone folded operations after this project. View 10 Photos Nevertheless, Weir says he found the fiberglass molds and clay model used to build the car earlier this year on auction in Italy while browsing the web. He managed to negotiate their removal from the auction and bring them back to the U.K., and heÂ’s even offering to sell the tooling set separately. “IÂ’m minded to sell the complete package, and the buyer can choose what they wish to do with it,” Weir says. “They could reproduce the moulds and model or, alternatively, have it as a one-off production car which is registered as Aston Martin Jet 2; which is a new model.” The finished product is said to share 70% of its DNA with the Rapide, including the stock 6.0-liter V12, offering 476 horsepower, and the same wheelbase and a nearly identical curb weight to the donor car. Inside, it features a 2+2 setup with four individual seats, the two in back foldable at the press of a button to make for hauling stuff, and Bertone gave the interior some wood, glazed aluminum and two-color leather trim, per request of Weir, whose name is etched on a plaque inside the cabin. The total design and build took around 3 1/2 months. Related Video: