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Aston Martin skids in stock market debut

LONDON — Shares in luxury automaker Aston Martin fell as much as 6.5 percent on their market debut in London on Wednesday as investors and analysts raised concerns over Aston's ability to deliver an ambitious rollout of new models. The company, which last year made its first profit since 2010 and has gone bankrupt seven times, had priced its shares at 19 pounds each, giving it a market capitalization of 4.33 billion pounds ($5.63 billion). The shares fell to as low as 17.75 pounds. Aston Martin has plans to launch a new model every year from 2016 to 2022. "(It) has very aggressive growth plans. The execution of that growth needs to be flawless — nothing eats cash more than a car company when the cycle turns. There is concern that it's more cyclical than the commentary has been," said James Congdon, managing director of cashflow returns specialist Quest. "The banks have done a good job for their client — but there's no bounce." Aston is going all-in Aston Martin — full name Aston Martin Lagonda Global Holdings Plc — expects to produce around 7,100 to 7,300 cars in 2019, and 9,600 to 9,800 cars in 2020. It aims to increase production to 14,000 cars in the medium term, helped by new models and improving its manufacturing process. The company is investing all of its cashflow to try to achieve this, leaving nothing for dividends or paying down debt. "In terms of execution risk — this is what I've done for all of my career. I'm an engineer: we mitigate risk," Chief Executive Andy Palmer, who has led a turnaround plan at the company since 2014, told Reuters. Palmer played down risks to the business from Britain leaving the European Union, even as other car manufacturers step up warnings over a disorderly Brexit. He said Aston Martin was "relatively well insulated" from the effects of Brexit because Europe is not its biggest market and it may actually benefit from exporting with a cheaper pound. However, 60 percent of its parts are imported from the EU and will be hit by tariffs if there is no trade deal. "Obviously we'd all prefer no tariffs to be frank, no doubt, but the industry has to learn to adapt, and it always has adapted to changes," Palmer said. Valuation In 2017, Aston Martin had adjusted earnings before tax interest, depreciation and amortization (EBITDA) of 206.5 million pounds, up from 100.9 million pounds in 2016.

Aston Martin sues supplier Envisage over copyright infringement

Automakers don't make the entire cars themselves. They typically design and engineer them, outsource many of the components to outside suppliers, and put them together at assembly plants. Farming out work to those suppliers can result in some leaks in the automaker's intellectual property, but while that's typically covered in extensive legal documents, disputes can arise. And in this case, it's arisen between Aston Martin and one of its suppliers. That supplier is the Envisage Group, a British firm based in Coventry that has, among its various clients, performed design work for Aston since 2007 and supplied parts and tooling since 2011. That means it has access to certain proprietary information regarding Aston and its products, and now the automaker is claiming the supplier has taken unlawful advantage of that access and its copyrights to further its other businesses. Among its other services, Envisage operates a coachbuilding operation that handles the production of vehicles like the Eagle's customized Jaguar E-Types and the Speedback GT for David Brown Automotive. The latter, pictured here, bears more than a passing resemblance to classic Astons, and the company name itself suggests a certain affiliation as well. However both Aston Martin and David Brown Automotive insist that the lawsuit is unrelated. In correspondence with Autoblog, the latter sent the following statement: Following speculation in recent press reports that David Brown Automotive and Speedback GT are the subject of, or involved in, legal proceedings by Aston Martin Lagonda Limited against Envisage Group Limited, David Brown Automotive can confirm that it, and its products, are in no way implicated and the production of our vehicles continues unaffected by the litigation. According to the report from the Telegraph, the lawsuit filed with the UK's High Court makes specific mention of badges, wheels and headlights belonging to Aston Martin that Envisage has allegedly used in promoting its services. Featured Gallery David Brown Automotive Speedback View 18 Photos News Source: The TelegraphImage Credit: David Brown Automotive Design/Style Government/Legal Aston Martin lawsuit court david brown automotive david brown automotive speedback

James Bond cars heading to auction with other series costumes and props

Here's your chance to really drive what 007 drove. On Sept. 28, Christie's will be auctioning 60 pieces from the expansive EON Productions archives, including costumes, props, and since this is Autoblog, cars! Much of the Sixty Years of James Bond Collection up for auction are pieces used during the filming of "No Time to Die," but there are some other noteworthy items from earlier films. The 60 pieces coincide with the film franchise's 60th anniversary. Among the cars is one of seven Aston Martin DB5 replica stunt cars built specifically for the movie, complete with plenty of damage incurred during the pre-credits sequence. It would also seem to be one of the stunt cars fitted with Gatling gun props behind the headlights (you can read more about the team behind the stunts here). As it's a replica and a stunt car, it does not have a full DB5 interior. However, as it's a replica and a stunt car, it also has a 3.2-liter inline-six from an E46 BMW M3. Now that's a melding of my personal tastes if there ever was one. Its price estimate is between GBP1.5 million and GBP2 million, or about $1.84 million and $2.46 million. Proceeds from every lot will go to various charities.  The auction's other cars driven by 007 in the film include an Aston Martin DBS Superleggera and one that's particularly close to my heart, a 1981 Aston Martin V8. Although it appears to be the same car driven by Timothy Dalton in "The Living Daylights," it's in fact a different car, made obvious by the fact that its model year is from six years prior to Mr. Dalton's first go in the tux. Also included in the auction are stunt vehicles used by baddies (we really need to talk about the blood money on JLR's hands after doing all this business with Spectre), including a Range Rover Sport SVR, a Land Rover Defender 110 and Jaguar XF. There's also a Triumph Scrambler motorcycle used in the filming, plus a new special edition 007 60th Anniversary Land Rover Defender 110 V8 not used in the film.  The only vehicles being auctioned from earlier films include a Q Boat from "The World is Not Enough" (I'm guessing EON still has a couple of them), the cello case from "The Living Daylights" (yes that counts as a vehicle), and a Day of the Dead parade bike from "Spectre" (I could buy that, ride around Portland on it and no one would bat an eye).