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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.

James Bond's ‘GoldenEye’ Aston Martin DB5 sells for $2.6 million

Last month, we wrote about the "GoldenEye" Aston Martin DB5 coming up for auction at the Goodwood Festival of Speed, and reported that it was estimated to bring in $1.6 million to $2.14 million. The Aston did a lot better, as it ended up selling for a comfortable $2.6 million. The cinematic Aston's buyer turned out to be the newly founded NYC spy museum Spyscape, which is already displaying the DB5 deal on its website. As a matter of fact, Spyscape will even be offering rides in the DB5 — not a lot of people have ridden in any DB5, let alone one that has been driven by James Bond. As Hemmings notes, the DB5 in question was found for filming by Aston Martin itself along with a couple other examples. After filming wrapped up, it was restored — reportedly to address damage accumulated during the shoot — and put on a promotional tour. Stirling Moss himself drove the car onstage at the Los Angeles Auto Show, when the spiritual successor for the DB5, the DB7, was presented. It's worth noting that the car sold in 2001 for $200,000, and that it was the most expensive piece of Bond-related stuff sold at the time. Last weekend's auction price puts a zero at the end of that price, and then some. Meanwhile, if you can't afford a $2.6 million James Bond car, how about the just-out Lego kit costing $149.99? Related Video: TV/Movies Aston Martin Auctions Luxury Classics aston martin db5 db5

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