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Aston Martin speeds ahead with October IPO worth perhaps $6.7 billion

LONDON — Luxury British carmaker Aston Martin is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from its stock market flotation and has taken steps to prepare for any eventuality over Brexit, it said on Thursday. The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so for decades. The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct. 3. It expects its shares to be admitted to the London Stock Exchange on or around Oct. 8. Carmakers have warned about the impact of any customs checks introduced as a result of a no deal or hard Brexit which could slow down production and add costs when Britain leaves the bloc in March 2019. The boss of Aston, which builds all its cars in Britain, said the company had boosted its stock of engines and components in case free and unfettered trade with the European Union ends in a few months' time. "We're up to five days of engine stock for example and we've got a very large warehouse in Wellesbourne (in central England) where we have at least five days of car stock," Chief Executive Andy Palmer told Reuters, an increase from the previous three days' worth of components held by the firm. "If there are tariffs ... for every car we lose because of a 10 percent tariff into Europe, we presumably pick up from Ferrari and Lamborghini in the other direction because obviously their cars become more expensive in the UK," he said. London and Brussels hope to conclude a Brexit agreement by the end of the year, but fellow carmakers such as BMW and Jaguar Land Rover (JLR) are worried that failure to agree could lead to snarl-ups at motorways and ports, disrupting production. JLR boss Ralf Speth warned last week that the wrong Brexit deal could cost tens of thousands of car jobs and risk production at the firm, Britain's biggest carmaker. Aston, which has set a price range of 17.50 pounds to 22.50 pounds per share for the 25 percent of stock it is floating, is targeting a market capitalization of between 4.02 and 5.07 billion pounds. The carmaker, which has long said it could pursue a listing, has undergone a turnaround plan since Palmer took over in 2014 as it boosts its volumes and expands into new segments with a new factory due to open in 2019.

Aston Martin says DBX is an obvious candidate for the AMR treatment

The 2021 Aston Martin DBX made its debut at the Los Angeles auto show with a Mercedes-Benz-sourced V8 engine under the hood. While that's the only engine that will be available at launch, the British company's chief executive confirmed there are several other options on the table. Aston Martin CEO Andy Palmer told Road & Track the twin-turbocharged, 5.2-liter V12 found in models such as the DB11 AMR and the DBS Superleggera fits in the DBX's engine bay. On its own, that's not a guarantee that a V12-powered model will arrive; just because there's space to install a 12-cylinder engine doesn't mean it makes sense to drop it in. Palmer didn't confirm or deny that the DBX will gain four additional cylinders, but he stressed that Aston hasn't mined the DBX's full potential yet. "We'll probably do other engine derivatives, we'll do other spec derivatives. As you do with any lifecycle management," he explained without going into more details about what's next. The twin-turbocharged, 4.0-liter V8 delivers 542 horsepower and 516 pound-feet of torque when bolted between the DBX's fenders, which means there's already room for improvement. The same engine makes 603 horses in the GLS 63 and GLE 63 S that Mercedes-AMG unveiled in Los Angeles, and its output checks in at 630 horsepower when it's under the GT 63 S's long hood. Swapping the V8 for a V12 would also bring the DBX's output above 600 horsepower — the DBS Superleggera's 5.2-liter packs a 715-horse punch — but it would put a Lagonda-sized dent in the vehicle's fuel economy. Aston Martin, like its peers, is under intense scrutiny in the emissions department. Time will tell which direction Palmer's team takes the model, but it's safe to bet we'll see a sportier variant. "We're committed to doing an AMR in every one of our range, so that would be an obvious candidate," Palmer told Road & Track. When it arrives, there's a good chance it will face serious competition from the long-rumored Urus Performante that Lamborghini is allegedly working on.

Xcar tackles winter in an Aston Martin V12 Vantage S Roadster

The Aston Martin Vantage has an unusually long history, characterized by constant improvement. It was introduced ten years ago with a V8. Two years later Aston shoehorned in its ubiquitous V12, and more than five years after that, it upped the output. All the while it's offered Roadster versions of each iteration until we ended up with the fastest convertible the company had ever made. The resulting Aston Martin V12 Vantage S Roadster will reach a highway gallop by the time you've finished pronouncing its full name, but exciting as it is, the prospect of driving a soft-top convertible channeling 565 horsepower through the rear wheels in the snow is, well... let's just say that, while such a car would be near the top of our list in most situations, it wouldn't be our first choice for winter transportation. That hasn't deterred the team at Xcar from taking on a British winter in this ludicrous drop-top. What they found was a roadster that's anything but perfect, but one they're glad exists – even if there are better choices for snowy climes.