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Aston Martin shows its other half with new Lagonda Taraf sedan

It's been a long time since we've seen a new Lagonda, but here it is: the Taraf. Introduced a few months ago in Dubai, the new Aston Martin Lagonda Taraf has since been confirmed for wider availability outside of the Middle East – including Europe, though sadly not North America – and is making its major show debut here in Geneva. The Lagonda Taraf is based on familiar technology – built on Aston Martin's familiar VH platform and powered by the company's ubiquitous 6.0-liter V12 engine – but stretches longer than the more compact Rapide and with completely different styling than we've grown accustomed to seeing on modern Astons. Only 200 examples will be made, priced at what is sure to be a substantial premium befitting its scarcity and the revival of a long-dormant nameplate. All of which means that this represents a rare opportunity to see the new Lagonda up close... at least until Aston cooks up the next model to wear the badge. Related Video:

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 spars with WEC over Valkyrie's exit from racing

Confirming an earlier rumor, Aston Martin announced it has stopped developing the track-going version of the Valkyrie it planned to enter in the World Endurance Championship's (WEC) new Hypercar category. It blamed its decision on a recent change in the regulations, but the sanctioning body responded that's not the full story. The British company explained it's unhappy with the WEC's decision to harmonize the Hypercar class with the LMDh category and the WeatherTech Sportscar Championship during the early 2020s. Without providing additional details, it declared the Valkyrie will not make its racing debut at the Silverstone track in August 2020 and it will not challenge Glickenhaus, Toyota, Peugeot and others in the 2021 edition of the 24 Hours of Le Mans. It added it's considering canceling the program altogether, meaning the Valkyrie would never race. Aston Martin isn't quitting racing; far from it. It will continue to enter the Vantage GTE in WEC events around the world, and the Racing Point Formula One team will be rebranded Aston Martin after the 2020 season. The sudden and unexpected entry into Formula One led by investor Lawrence Stroll may have played a role in convincing executives to cancel the Hypercar program. Racing is expensive, and Aston isn't doing well. The Federation Internationale de l'Automobile (FIA) that regulates the WEC doused cold water on Aston's explanation. It opined the harmonization doesn't impact the category, and it pledged to prove this claim when it releases additional technical specifications in March 2020. It instead blamed the decision to withdraw the Valkyrie from racing on the highly-publicized financial issues that have plagued Aston since 2019. "The decision announced by Aston Martin is very regrettable but perhaps not unexpected in light of the persistent rumors over the last six months concerning the fragility of the brand's exposure in the rapidly-evolving automotive market," it wrote. As of writing, executives haven't responded to these allegations. Aston Martin and the FIA both noted they're open to working with each other to find a solution, but the carmaker's statement is highly ambiguous. It affirms Aston's future presence in the racing world will be "defined by its activities at the highest level of both single-seater competition and endurance GT racing" and glaringly leaves the Hypercar category behind. To us, it sounds like the program has already been consigned to the attic.