2012 Aston Martin Volante on 2040-cars

Auto blog

Aston Martin's lifeline buys carmaker time as SUV hits road

Canadian billionaire Lawrence Stroll and investors have rescued Aston Martin with a 500 million pound cash injection that analysts say will help stabilize the British carmaker whose first sport utility vehicle (SUV) is set to hit the road. Stroll agreed to buy up to 20% of the 107-year-old company and will become executive chairman of James Bond's automaker of choice, which has gone bankrupt seven times in its checkered history. A consortium led by Stroll will invest 182 million pounds($239 million), whilst major existing shareholders - primarily Italian and Kuwaiti private equity groups - will be part of a rights issue to raise 318 million pounds. "It likely gives them enough liquidity to tide them over for a couple of years," said Charles Coldicott, Redburn equity research analyst. Outgoing chairwoman Penny Hughes, who will be replaced by Stroll, spelt out the degree of trouble the firm has been in after core sales fell last year. "The difficult trading performance in 2019 resulted in severe pressure on liquidity which has left the company with no alternative but to seek substantial additional equity financing," she said. "Without this the balance sheet is not robust enough to support the operations of the group." Now Aston will need to turn the financial lifeline into part of a sustainable plan as it delays investment in electric vehicles and cuts its operating costs. A key future milestone includes around 1 billion pounds worth of debt due to mature in 2022. The company also suffers from lower gross margins than rival Ferrari, according to analysts at Jefferies, who have said scaling up is just as important as extra capital. Key to the company's success is its first foray into the lucrative SUV market, a late entrant compared to many rivals such as Volkswagen-owned Bentley and BMW's Rolls-Royce. Aston has built a new factory in Wales to make the model, known as the DBX, which it hopes will attract more women to the brand and some buyers to purchase both it and a vehicle from its traditional line-up. With the DBX model not due to roll off the production line until the second quarter of this year, the firm has taken the cost with only some of the benefit so far. Based in central England, Aston said earlier this month that it already had around 1,800 orders for the car which will retail for 158,000 pounds in Britain, a "materially better" rate than for any previous models.

2013 Quail Motorsports Gathering wows with modern masterpieces

Pebble Beach is an outstanding event if you're interested in pre-war classics, but outside of the parking lots, it's a bit light on more modern stuff. The Quail, now in its eleventh year, leans far more towards the present day, and has become one of the must-attend events of the Monterey car week.
Like Pebble, though, it's a highly exclusive affair, with triple-digit ticket prices that usually sell out at the same rate as a Justin Bieber concert. If you're one of the lucky few to hold a pass, though, you'll be rubbing elbows with a who's who of the auto world. One of the highlights of this year's event was the appearance of one Michael Schumacher, who showed up alongside one of his Formula 1 cars. A retrospective was also held on Lamborghini's 50 years of production, as well as another celebration of Aston Martin's centennial. There was also a tribute to the late Martin Swig, one of the co-founders of the California Mille, who passed away last year.
The cars, not surprisingly, were epic. Lamborghini, Pagani, Spyker, Rolls-Royce, BMW, McLaren, Bugatti and Galpin Ford all showed new models to the public for the first time, while there were also appearances by Jim Glickenhaus and his Ferrari P4/5 and P4/5 Competizione, marking the first time the coach-built masterpiece and its racing offspring were shown together. Finally, the Petersen Museum showed off its wears, including the late Steve McQueen's gorgeous Jaguar XK-SS.

Aston Martin Lagonda supersaloon gets official with first delivery

Over the past 67 years since Aston Martin acquired the Lagonda marque, the name has come and gone, but now it's back again. After an aborted attempt at reviving the brand with a much-criticized SUV concept at the 2009 Geneva Motor Show, Aston is building a new high-end sedan exclusively for the Middle Eastern market, and this is our best look at it yet. We first caught glimpse of the upcoming new Lagonda a few months ago when it was spotted undergoing testing, and Aston released preliminary details and a couple of teaser images just last month. But now it's shipping the first example for testing to the Sultanate of Oman on the Persian Gulf coast, and it has evidently allowed Oman Air and the Aston Martin Oman dealership to release a handful of photos. What we can see is a pretty handsome sedan that borrows stylistically from the original Aston Martin Zagato sedan that shocked the world in the mid-'70s, not to mention cues from the Zagato Centennial concepts revealed last year. It's possible this is Aston's new design direction, a bid to finally take it away from the gorgeous but overfamiliar styling of its current crop. The fresh look is more squared off, with narrower head- and taillights. It's also possible, of course, that this new look will remain specific to future Zagato-branded vehicles. Look close enough and you'll notice that the handsome sedan is wearing the Lagonda badge, not those of Aston Martin. Oman Air Partners With Aston Martin For Exclusive New Lagonda Test Date: 25 August 2014 World class luxury airline Oman Air is today, [TBC], proud to announce a key partnership with globally renowned British car manufacturer Aston Martin which sees the Middle Eastern carrier bring the marque's yet-to-be-launched Lagonda to Muscat as part of its early testing programme. Reviving the iconic Lagonda name from Aston Martin's renowned heritage, the brand new car is a top-of-the-range, luxury four-door super-saloon which has been designed exclusively for the Middle East market – and Oman's awe-inspiring mountains, deserts and state-of-the-art road network are providing the perfect backdrop for essential summer heat testing.