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Aston Martin CFO departs as stock hits a record low, losses deepen

LONDON — Aston Martin shares slumped to a record low on Thursday after the British luxury carmaker said its losses ballooned last year and its chief financial officer would leave by the end of April. The firm, famed for being fictional agent James Bond's car of choice, posted a pretax loss of 104 million pounds ($135 million) last year compared with 68 million pounds in 2018 following a 9% decline in sales to dealers. Aston Martin is in the midst of restructuring after announcing last month that a consortium led by Canadian billionaire Lawrence Stroll would buy up to 20% of the company and existing shareholders would inject more cash. Its shares, which were listed in October 2018, have been on a steady downward trajectory ever since and hit a record low of 328 pence following the announcements on Thursday, more than 80% lower than their flotation price. "The big difference between last year and this year is the strength of the balance sheet," Chief Executive Andy Palmer told Reuters. "We're in a very different place and have therefore an ability to properly ... destock and that means get the balance right between supply and demand." Chief Finance Officer Mark Wilson will step down from his role no later than April 30 but had not been fired, said Palmer. Coronavirus impact China, Aston's fastest growing market, was a rare bright spot last year with sales rising 28% but the company, like the rest of the industry, has seen demand drop due to the coronavirus outbreak. The virus has infected more than 80,000 people and killed about 2,800, the majority in China, confining millions to their homes, disrupting businesses and delaying the reopening of factories after the extended Lunar New Year holiday break. Aston has seen disruption to the arrival of certain parts but said it had not had to stop production at its factories, with components secured until at least the end of March because it has no direct suppliers in China. "Since almost the first weeks of the New Year we've had issues with those Tier 2 and Tier 3 (suppliers) which have meant that our supply chain guys have had to be on it constantly," said Palmer. "We're ironically benefitting from the fact that we built up a Brexit stock," he said, in a reference to extra components the firm held in case Britain's departure from the European Union led to additional delays in the movement of goods.

2018 Aston Martin DB11 Volante First Drive Review | The speed of style

If you're not a car designer, chances are you've tried to draw a sportscar, and realized just how hard it is to get those proportions just right. One false line, and the sleek coupe of your imagination looks like a kumquat. So you can imagine that transforming the striking V8-powered Aston Martin DB11 coupe into an equally stunning Volante ragtop was harder than it looked, a task which required Aston designers and engineers to nip and tuck everything past the windshield. "There were lots of healthy, heated debates," lead designer Julian Nunn says of how the DB11 Volante – fancy speak for convertible – was packaged. As it sits before us on a brisk winter morning in Southern France, the British drop-top has a sleek, fleet look thanks to the elegant rake of its nose, the sharp arc of its roofline, and the taut contours of its derriere. Aston's designers nailed the proportions – it's a stunner. How they got there was a game of millimeters, starting with a minuscule lift of the haunches to accommodate the eight-layer folding soft top. To soften the look of those lifted surfaces, the wheel arches are faceted slightly inboard, lending them more depth and dimension. The convertible loses the air vent at the rear, since there's no roof to create lift; as such, the so-called AeroBlade feature which ducts air through the C-pillar is also gone. But the rear spoiler remains, automatically deploying for downforce with a speed-dependent algorithm based on driving mode. The stack height (that is, the vertical space occupied by the folding roof) measures 10 inches, the lowest in its class, which helps the DB11 achieve its graceful looks with the added benefit of keeping the center of gravity low. The top takes 14 seconds to lower, and will drop at speeds up to 31 mph. A Volante with its top down puts Aston's typically gorgeous cabin on full display: the door's brogued leather details surrounded by an improbably shaped veneer surround; the complex curvature of the veneer around the capacitive touch-sensitive infotainment interface; the improbably generous swaths of leather and Alcantara upholstering the dashboard and A-pillar surfaces. There's even, for the first time, veneer on the backs of the front seats. The tiny rear seats come with ISOFIX car seat attachments, a first in a Volante. I could go on about the DB11's unusual and intriguing aesthetic choices, but I've also got a persistent gripe with the electronic instrument cluster.

Aston Martin building 28 Goldfinger DB5 reproductions — complete with gadgets

The Lego iteration of the 1964 Aston Martin DB5 featured in the James Bond movie "Goldfinger" is a pretty cool toy for any Bond fan, what with its full suite of movie gadgetry. But for the well-heeled 007 fan, Aston Martin has something even more special in store. The car company announced that it will build a grand total of 28 full-size reproductions of the famous movie sports car. It won't simply be a DB5 in the correct color, either. The company is teaming up with the special effects supervisor from the most recent James Bond films, a man who, according to IMDb, has been working on Bond movies at some level since " The Spy Who Loved Me" and was the special-effects supervisor on the the Christopher Nolan Batman trilogy and the two latest numbered installments of the " Star Wars" series, to build the cars with "functioning gadgets such as revolving number plates and more." The "and more" part has us particularly intrigued. We imagine the tracking computer and bulletproof shield are simple enough. But the hideaway machine guns and ejector seat might be tricky. Regardless, you won't be able to deploy any of the gadgets on public roads, as Aston Martin explicitly states the cars won't be street legal. We're sure that won't keep Aston from finding buyers for these dream DB5s. The price tag probably won't deter serious buyers, either. The company says each car will sell for 2,750,000 pounds, which comes to $3,510,000 at current exchange rates. Of the 28 cars, 25 will be sold directly to customers. The remaining three will include one for Aston Martin, one for EON Productions, the company that produces Bond movies, and one that will auctioned for charity. Aston estimates the first cars will be delivered in 2020. Related Video: Featured Gallery James Bond's 1964 Aston Martin DB5 View 61 Photos News Source: Aston Martin, IMDbImage Credit: RM Auctions / RM Sotheby's TV/Movies Aston Martin Coupe Special and Limited Editions Classics aston martin db5