2005 Aston Martin Vanquish S Coupe 2-door 6.0l. Rare. Immaculate on 2040-cars

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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 appears to be testing a V12 Vantage in these spy photos

For a few years now, the Aston Martin Vantage has been without V12 power. It's technically been without Aston Martin power, too, since its twin-turbo V8 comes from Mercedes-AMG. But that may change in the near future based on these spy photos from the Nurburgring. They show a Vantage, but one that's wider and with exhaust that suggest it may get a few more cylinders like its close cousin, the V12 Speedster. Staring us down is the prototype's enormous front grille, taller and wider than standard Vantage units. It's flanked by two smaller inlets and underlined by an aggressive front splitter. The whole front seems to be wider, as evidenced by the mismatch around the front fender and hood. Speaking of the hood, there's a big mesh "V" sitting on top to cover what are likely heat-extracting vents, which would probably be important for handling the heat from a twin-turbo 5.2-liter V12. Changes at the back are a bit more subtle, but only a bit. The rear fenders have large fender flares, suggesting the production car will also be wider at the back with correspondingly larger tires. There's a little gurney flap on the rear spoiler, so we may see a more aggressive spoiler in production. We also see a center exhaust instead of each of the dual pipes on the ends of the rear diffuser. This exhaust looks a lot like what Aston used on the V12 Speedster, itself based on the Vantage, but without the roof section. This is probably the strongest evidence that the car has the extra cylinders. With Aston clearly knowing how to shove a V12 into a Vantage chassis, and the high-end sports car market's never-satiated desire for more powerful and rarer items, a V12 Vantage seems like a slam-dunk product. The question will be, what output will it make. The V12 Speedster made 700 horsepower, but it was a limited-production special edition. The V12 Vantage could get the DB11's 630-horsepower variant to give the Speedster a bit of breathing room. And that would still be a nice power increase over the 503 horsepower of the regular Vantage. Based on these spy shots, we'd bet we have around a year before we see the production model, maybe a little less, maybe a little more. Related Video:

Aston Martin recalls 7,000+ vehicles over seat heaters

We've seen vehicles being recalled for all sorts of reasons: ignitions switching off, airbags inflating prematurely, brake lines leaking fluid... but this latest one from Aston Martin is for the seat heater. So what, rich folks won't be able to drive their Volantes with the roof down when it gets cold, you say? Tragic though that would surely be, we're afraid this problem lies at the opposite end of the spectrum: seat heaters that won't turn off. The danger that poses, according to the statement below from the National Highway Traffic Safety Administration, is that the seats could start to smolder. And that doesn't sound like fun. The issue affects just about the entire Aston range, including the DB9, DBS, Virage, V8 Vantage and V12 Vantage, covering the 2006-2014 model years and manufactured between July 3, 2006 and November 5, 2014. That's pretty much everything Aston makes, save for the four-door Rapide, the newer Vanquish, the rare One-77 and the overseas-only Cygnet. So you'd figure that would add up to a lot of vehicles, and we suppose it does, considering the niche market in which Aston competes. All told, the recall affects an estimated 7,256 units across the United States, the owners of which will need to bring their luxury GTs into their local dealer to have an additional circuit module installed that will cut the power to the seat heaters in case the control module fails. Featured Gallery 2013 Aston Martin DB9: Review View 28 Photos News Source: National Highway Traffic Safety AdministrationImage Credit: Copyright 2014 Drew Phillips / AOL Recalls Aston Martin Convertible Coupe Luxury Performance aston martin v8 vantage aston martin db9 aston martin v12 vantage seat heaters