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DBX goes black tie with Q by Aston Martin

Aston Martin won't begin delivering its new DBX to customers in North America until the latter half of this year. Perhaps as a favor to DBX intenders that haven't placed orders yet, Q by Aston Martin has prepared a bespoke DBX for the Geneva Motor Show that presents a sliver of the creative possibilities unlocked by working with Q. The near infinite menu of choices has been broken down into two groups, Q by Aston Martin Commission and Q by Aston Martin Collection. Collection fits a range of predesigned accessories like carbon fiber paddle shifters or hood vent louvers for the DBS Superleggera. The Commission range encompasses all the imagination that a customer's bank account can fund. The Geneva show car wears Satin Xenon Grey paint from the Collection, as well as carbon fiber pieces around the lower exterior, black anodized tread plates and plaques on the sill. The 22-inch gloss black painted wheels come from the Commission department. The grand showcase comes inside the DBX vault. Yards of Obsidian Black Leather come from the SUV's standard options list. Commission stewards designed the satin chrome aluminum trim and jewelry as an entree, all milled from a solid ingot of the shiny stuff and finished with a special diamond pattern. They followed that up with a custom technique for the carbon fiber floating center console, door trim, and luggage floor. Craftsmen laid up 280 layers of carbon fiber, cured it for 12 hours, then put five-axis milling machines to work for 90 hours to create the necessary shapes. The finish on the cabin pieces reflects the strata of the hand-laid layers, while the span protecting the luggage floor comes from a single sheet of herringbone-pattered carbon fiber. Raised metal and rubber welts help protect the load floor finish and prevent cargo sliding to and fro.  The standard DBX starts at $192,986 after destination. A Q by Aston Martin DBX will, naturally, cost a touch more. Related Video:    

Bond, junk bond? Aston Martin financial ratings go south as it awaits DBX

Ratings agencies Standard & Poor's and Moody's have taken a dim view of Aston Martin Lagonda. S&P cut its credit rating on the storied carmaker deeper into junk territory this week, and Moody's revised its credit outlook to "negative" after the company raised $150 million in debt from a bond issue at 12% interest, with the option to raise another $100 million at 15%. The Standard & Poor's rating was trimmed by one notch to 'CCC+', which reflects substantial risks and takes it close to default territory after a faster-than-expected cash burn this year. The outlook is negative.  The negative outlook reflects ongoing pressure on profits, a high cash burn, and very high leverage in the face of heightened risks linked to a potential no-deal Brexit and new tariffs on car imports threatened by the United States. The potential salvation for the company is its new DBX luxury SUV, the success of which is critical to its ambitious growth strategy and ongoing creditworthiness, S&P said. But Moody's noted that it's burning cash at a high rate as it nears the launch of the DBX. The British carmaker, known as James Bond's favorite marque, has been hit by falling demand in Europe, the Middle East and Africa. It slumped to a first-half loss in July. Chief Executive Andy Palmer said concerns around Brexit and U.S.-China trade relations were skewing the outlook to the downside, so it was prudent to address investor concerns about its balance sheet. "Taking this debt on — short-term debt — is we think the correct tool to completely remove that thesis that we don't have sufficient liquidity," he told Reuters. "In every substantial and material way, this ensures that we can get through to DBX in spite of what all of those global uncertainties might throw at us." The main tranche comprises notes with an interest rate of 12% due in 2022, while the additional notes could be issued under the same terms if permitted, or could be issued as unsecured notes with an interest rate of 15%, Aston Martin said. Shares of stock in the company, which have had a precipitous fall since they listed in London in October 2018 at 19 pounds, were trading down 5% at 545 pence in early deals. Broker AJ Bell said Aston Martin was known for its high end prices and that situation now also applied to its debt. "These rates are very high and are a major red flag that investors consider the car company to be a high risk entity," it said.

Aston Martin recalling all DB11s over Daimler steering column

Aston Martin has become the latest carmaker to be caught up in a major recall of faulty Daimler steering-column components that can cause unintended airbag deployments. The British sports car maker is recalling all 3,873 DB11 coupes built since late 2015, when production of the flagship model began, Aston Martin spokesman Kevin Watters confirmed. He said repairs would be carried out to "address an issue with the DB11 steering column upper." Daimler last year recalled more than 1 million Mercedes-Benz cars fitted with steering-column parts also supplied to Aston and Nissan. The Japanese carmaker's Infiniti brand recalled 17,500 affected vehicles. The issue is unrelated to a global recall of faulty Takata airbag inflators that have been blamed for 20 deaths. Inadequate grounding in the Daimler units leaves their circuitry vulnerable to electrostatic charges that can trigger unintended airbag deployments, according to earlier warnings. Mercedes reported "a handful of instances where drivers suffered minor abrasions or bruises" as a result of the problem. No Aston Martin customers have reported any such incidents to date, the company said, adding the necessary repair work would be carried out free of charge in less than two hours. Reporting by Laurence FrostRelated Video: