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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.

$1.3B worth of classic cars were auctioned in 2014

The collector auto market in the US just continues to expand with the values of vehicles seemingly only growing in the past years, especially if they have a prancing horse on the hood. This year was no different. According to data compiled by classic car insurance agency Hagerty, there were about $1.3 billion worth of vintage rides auctioned in North America in 2014, up just slightly from $1.2 billion crossing the block in 2013. If you want an idea of just how big a role the Monterey Car Week plays in the North American collector hobby, Hagerty's stats illustrate it perfectly. The company recorded $430 million in auction sales during the week – about a third of the entire market for the year. The event also hosted the biggest seller of 2014 when the hammer fell on a 1962 Ferrari 250 GTO (pictured above) for $38.115 million at Bonhams. In fact, vintage Ferraris in general were among the top buys in the classic auto world in 2014. Eight of the ten most expensive vehicles sold at auction were Prancing Horses (the other two were Ford GT40s). Also, the insurance company's price index for these Italian stallions showed a 43-percent gain in value for the year. The market for another Italian supercar is exploding, as well. The Lamborghini Countach showed a staggering 175-percent growth in auction value in 2014. According to Hagerty, the average price when they crossed the block was $736,599. Judging by Hagerty's numbers, there were still some places to look for those hoping to spend a bit less money. The Aston Martin Lagonda showed a strong gain in value with a 32-percent increase in auction price, but they still averaged $47,078. In addition, the company's index for '50s American cars showed only one-percent growth for these classics. These huge leaps in collector car value might be winding down, according to Hagerty. It predicts growth in the market to slow to an estimated five percent gain in 2015. Maybe a few of these classics might actually become a bit more affordable to fans without such deep pockets sometime in the future. Featured Gallery Bonhams Maranello Rosso Collection: Monterey 2014 View 21 Photos News Source: HagertyImage Credit: Copyright 2014 Drew Phillips / AOL Aston Martin Ferrari Lamborghini Auctions Car Buying Performance Classics aston martin lagonda ferrari 250 gto Lamborghini Countach collector cars 1962 ferrari 250 gto auto auction

London man keys $150k Aston Martin while pushing stroller

Police are looking for a man who was caught on a dashboard camera keying a supercar last month while out for a stroll with a child in east London. The Aston Martin V8 Vantage was sitting in a parking spot in the London borough of Hackney. It was minding its own business – with its dashboard camera running – when it caught the eye of man passing by. Not unusual for a sleek sports car, but what happened next was unexpected. Instead of admiring its British design from afar he angled the pram off the curb and walked toward the car. Footage shows he then took an object out of his pocket and dragged it along the side of the Vantage's aluminum body panel. The owner of the Vantage told the BBC the damage cost over $14,000 to fix. In terms of cars to destroy, this vandal has excellent taste. The Vantage is small, light, and agile. The most affordable version, the V8 Vantage GT, comes with a full leather and Alcantara cabin, with thick contrasting stitching, combined with real carbon fiber and wood finished in piano black. It can sprint from zero to 60 mph in about 4.6 seconds. News Source: BBC Auto News Weird Car News Aston Martin Videos viral video vantage scratch