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Aston Martin shares plunge to new low following half-year loss

LONDON — Shares in Aston Martin plunged 17% to a post-flotation low on Wednesday after the luxury British carmaker slumped to a half-year loss, the latest automotive firm to be hit by falling demand in Europe. Aston Martin, best known as James Bond's favorite marque, has been undergoing a turnaround plan since Chief Executive Andy Palmer took over in 2014, designed to renew and boost its model line-up and move into new segments. The plan led to an autumn 2018 stock market flotation. But its shares have since fallen by around three quarters from their 19 pounds float price to below 5 pounds, hit most recently by the group's weak performance in Europe, the Middle East and Africa, where half-year demand fell by nearly a fifth. The group posted a pretax loss of 78.8 million pounds in the six months through June from a 20.8 million pound profit in the first half of 2018. Its shares were down 17% at 4.71 pounds by 0748 GMT. "We are disappointed that our projections for wholesales have fallen short or our original targets, impacted by weakness in two of our key markets as well as continued macro-economic uncertainty," Palmer said. Overall wholesale demand grew by 6% in the first six months as the group posted strong increases in the Americas and Asia, but a decline in Britain and the rest of the continent prompted the carmaker to cut its full-year forecast. Aston has also been hit by expansion costs as it builds a new factory in Wales to make its first sport utility vehicle, and a lower average selling price. The company said that if it requires some additional financing it would pursue the funds from sources such as the debt markets. The global car industry has been hit by weakening demand in China and a drop in demand for diesel vehicles in Europe, as well as the cost of electrification. Nissan reported plunging profits last week and said it would undertake its biggest restructuring plan in a decade, axing nearly a tenth of its workforce. But 106-year old Aston also faces the risk of a disorderly Brexit disrupting its wholly British production, as delays at ports due to new bureaucracy could slow down the movement of vehicles and components. "We do not want a no-deal Brexit because of the disruption that causes to issues at the border," said Palmer.

Aston Martin's extremely British DBS Superleggera special edition: DBS 59

Aston Martin just released a new special-edition model called the DBS 59. The name pays respect to Aston Martin's 1-2 finish in the 1959 24 Hours of Le Mans with its DBR1 race cars. This car is based off the 715-horsepower DBS Superleggera, the fastest vehicle in Aston's current lineup. All the changes for the special edition car are visual, but they make for one hell of a stunner. Every DBS 59 will be painted in British racing green and use a plethora of gloss carbon fiber on the exterior. You'll see the carbon on the roof, roof strakes, rear valance, spoiler and hood louvers. To complement the carbon fiber, Aston used bronze accents in some spots like the front grille, badging, brake calipers and wheels. It all comes off as very British, and we're loving the classy looks of it. The interior is actually tri-toned. There are brown and black leather seats, but British racing green trim is found in some areas as an accent. Fabric designed to harken back to the same stuff used on the DBR1 was commissioned for the DBS 59's seat backs and door inserts. You get one of the cooler accessories packages with the car: The rear compartment holds special DBS 59 crash helmets. Period-correct blue race overalls, racing gloves modeled after those worn in the 1959 race, a bespoke two-piece luggage set and a car cover specific to your model number all come with the car. Speaking of model numbers, Aston Martin plans to make 24 of these — you know, because there are 24 hours in the 24 Hours of Le Mans. Each car will have a small white painted number next to the side strakes to signify which one you got. All the mechanicals are the exact same as the normal DBS Superleggera. That's totally fine — the Superleggera goes 211 mph. Aston Martin doesn't provide a price, but you can order one now. Our guess is, if you have to ask, you can't afford it. Related video: Featured Gallery Aston Martin DBS 59 Image Credit: Aston Martin Aston Martin Coupe Luxury Performance supercar aston martin dbs superleggera

Inside the Aston Martin Heritage Trust, the company's secret museum

The Aston Martin Heritage Trust Museum has been in existence since 2002. It houses the official archives of the Aston Martin Lagonda Company, as well as those of the Aston Martin Owners Club, at the behest of which the Museum was founded back in 1998. It also houses a rotating collection of distinctive and historically significant Aston Martin vehicles, cherry picked from a century of the automaker's exquisite existence. Unfortunately for those besotted with the brand, as I am, the AHMT is located on the periphery of the exurbs of nowhere, in a restored 14th century barn on a dirt road, blocks off the river in the wee Midlands village of Drayton St. Leonard. An address is not published. The only indication that you might be in the right place is an almost intentionally innocuous government tourism placard, placed somewhat near the turnoff. "We used to maybe get a hundred visitors a year before they put up the sign," says AMHT Curator Donna Bannister, an American of equally mysterious provenance. "Now we get almost a hundred per month." Lucky are the souls who find the AMHT (my cabby wasn't among them; I had to walk a bit), because it houses, in its cramped Middle Aged quarters, some real treasures. Greeting me when I entered was a bare-metal-nosed 1921 A3, the oldest existing Aston Martin in the world, which was bought at auction in 2000 and restored to driving condition via the generous underwriting of Sheik Nasser of Kuwait, who is apparently a huge AM collector. "It won Kop Hill in 1923," Bannister says. "We recently took it back there, and to the Windsor Concours d'Elegance. Of course the Royals are big fans of the Aston brand." There's also a 1934 Ulster BLB 684, the only remaining one in a 2+2 configuration. This car is a driver as well. "Club members can hire it out," Bannister says. "Though because it's quite difficult to drive – it has the clutch in the center, and the gas and brake on either side – only a few do." There is a passel of more recent notables, like the 2000 V12 Vanquish cutaway, an auto show maquette meant to demonstrate the fruits of Ford's huge investment in the brand at the start of this century. There's a pre-production, gloss white 2013 Vanquish Volante, which was used for photos and promotion as well, but never registered due to some inconsistencies in the paint. There are display engines from the DB4GT, the Lagonda V8, and the twin-supercharged Vantage (swoon!).