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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.

Listen to the Aston Martin Vulcan do what it was meant to

What happens when a world-class sports car manufacturer and racing team is permitted to design a vehicle from the ground up with no rules to follow? Something along the lines of the Aston Martin Vulcan, that's what. Built neither for the road nor for any racing series, the Vulcan is part of a new class of dedicated track cars. And as you can see from this latest video, it's all but completely unhinged. The Vulcan represents Gaydon's answer to the likes of the Ferrari FXX K and McLaren P1 GTR. It packs a 7.0-liter naturally aspirated V12 at the front of an aluminum chassis with carbon-fiber bodywork. It weighs less than 3,000 pounds, but packs 800 horsepower – without a hybrid system or turbo spool in sight. In short, it's takes the best from Aston's road cars and its race cars, amps them up to 11, and abides by none of the rules they need to. Apart from some preliminary teasers, a run up the hill at Goodwood, and a brief (but static) encounter with its Cold War, airborne namesake, this represents a rare opportunity to see – and most importantly hear – the Vulcan do what it's designed to do. With only 24 to be made and each priced at over $2 million, this may be the closest you'll ever get. So go full-screen and crank the speakers to enjoy the unbridled show.

Roger Moore's 1970 Aston Martin DBS sells for $900k [w/video]

Think of Roger Moore zipping around Europe in an Aston Martin thwarting evil plans, and you'll probably think James Bond, right? Wrong. Because though 007 has driven a variety of Astons in the various films over the years, none of those were in the Moore era. He drove a Chevy Impala in Live and Let Die, a Mercedes in The Man With The Golden Gun, a Lotus Esprit in both The Spy Who Loved Me and For Your Eyes Only, a Range Rover in Octopussy and a Ford LTD in A View to a Kill. But that wasn't the only jet-setting do-gooder Moore played. He drove a Volvo as Simon Templar in The Saint, but after that and before his Bond days, he got his turn behind the wheel of an Aston in a television series called The Persuaders! The show starred Moore as Lord Brett Sinclair and Tony Curtis as American playboy Danny Wilde in a TV series that ran on both ITV in the UK and ABC in the US. It sadly only ran for one 24-episode season, but remains a cult classic. The series was as much about the cars as it was the stars, with Curtis speeding around Europe in a Ferrari 246 GT Dino and Moore in this yellow 1970 Aston Martin DBS. And it just sold at auction. As Octane pointed out when it drove the car for its September 2013 issue, the car was loaned to the show's producers and, though it packs the 4.0-liter inline-six of the DBS, was fitted with the wheels and badges of the Aston Martin V8 that followed – just without the eight-cylinder engine. It was sold to a private owner after the show finished filming and then bounced around different owners before collector and enthusiast Mike Sanders bought it and subsequently sold it to one Ed Stratton. Ed brought it back to show spec, took it to Villa d'Este, had Moore and Curtis sign the inside of the trunk lid, and now put it up for auction. The star of Bonhams' 15th annual sale at the Aston Martin Works in Newport Pagnell this past weekend, the DBS sold for a record GBP533,500 – equivalent to almost $900k at today's rates – contributing to GBP8.7 million ($14.6m) in total sales that day. Find the press release below, along with a video of a pretty great scene from The Persuaders! with both Moore and Curtis. ROGER MOORE'S 'THE PERSUADERS!' ASTON MARTIN SETS WORLD RECORD FOR A DBS SOLD AT AUCTION 17 May 2014, The Aston Martin Works Sale In its 15th year Bonhams Aston Martin Works sale totals at GBP8.7 million Roger Moore's 'The Persuaders!' Aston Martin DBS sets world record for DBS sold at auction, selling for GBP533,500.