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Aston Martin shares plunge to new low following half-year loss

LONDON — Shares in Aston Martin plunged 17% to a post-flotation low on Wednesday after the luxury British carmaker slumped to a half-year loss, the latest automotive firm to be hit by falling demand in Europe. Aston Martin, best known as James Bond's favorite marque, has been undergoing a turnaround plan since Chief Executive Andy Palmer took over in 2014, designed to renew and boost its model line-up and move into new segments. The plan led to an autumn 2018 stock market flotation. But its shares have since fallen by around three quarters from their 19 pounds float price to below 5 pounds, hit most recently by the group's weak performance in Europe, the Middle East and Africa, where half-year demand fell by nearly a fifth. The group posted a pretax loss of 78.8 million pounds in the six months through June from a 20.8 million pound profit in the first half of 2018. Its shares were down 17% at 4.71 pounds by 0748 GMT. "We are disappointed that our projections for wholesales have fallen short or our original targets, impacted by weakness in two of our key markets as well as continued macro-economic uncertainty," Palmer said. Overall wholesale demand grew by 6% in the first six months as the group posted strong increases in the Americas and Asia, but a decline in Britain and the rest of the continent prompted the carmaker to cut its full-year forecast. Aston has also been hit by expansion costs as it builds a new factory in Wales to make its first sport utility vehicle, and a lower average selling price. The company said that if it requires some additional financing it would pursue the funds from sources such as the debt markets. The global car industry has been hit by weakening demand in China and a drop in demand for diesel vehicles in Europe, as well as the cost of electrification. Nissan reported plunging profits last week and said it would undertake its biggest restructuring plan in a decade, axing nearly a tenth of its workforce. But 106-year old Aston also faces the risk of a disorderly Brexit disrupting its wholly British production, as delays at ports due to new bureaucracy could slow down the movement of vehicles and components. "We do not want a no-deal Brexit because of the disruption that causes to issues at the border," said Palmer.

Kahn Design to reveal Aston Martin Vengeance in Geneva

The major automakers won't be the only ones with new metal to showcase in Geneva next month, so will aftermarket tuners and coachbuilders like Kahn Design. The British outfit is rolling into the Swiss expo this year with the long-awaited Vengeance, its own take on the Aston Martin DB9. We first caught wind of the Vengeance project in May – just after a similar project by Henrik Fisker was quashed. But unlike the proposed Fisker Thunderbolt, Kahn secured Gaydon's blessing in developing the Vengeance: "Aston Martin has entered into a supply agreement with Kahn Design," AML spokesman Kevin Watters confirmed to Autoblog at the time, "and will supply a very limited number of DB9s for an extensive coachbuild conversion." The design, as you can see, bears the familiar hallmarks of a contemporary Aston, but rendered more aggressive in a style that looks similar to the manufacturer's own One-77. It won't be the first such coach-built Aston Martin we've seen, but most of the others to date have resulted from a longstanding collaborative effort between the British automaker and famed Italian carrozzeria Zagato. Another recent project saw Bertone convert a Rapide into the Jet 2+2 shooting brake in a revival of the Vanquish-based Jet 2 from 2004. In a bit of a role reversal, Aston served as something of a coachbuilder itself in rebodying the Toyota/Scion iQ as its own Cygnet, having previously outsourced production of the Rapide to contract manufacturer Magna Steyr. Alongside the Vengeance, Kahn plans to display the Flying Huntsman 6x6 pickup based on the Land Rover Defender at the Geneva Motor Show. It will be joined by a customized red Range Rover and blue Range Rover Sport done up as pace cars, and a widebody Jeep Wrangler from its Chelsea Truck Company division. Related Video:

Say hello to the Aston Martin 'On Her Majesty’s Secret Service' DBS Superleggera

There's the fact that the Aston Martin DBS Superleggera has become the carmaker's most popular canvas for special editions of late. There's the fact that Aston Martin has a longstanding relationship with the production company behind the James Bond film franchise. And there's the fact that Aston Martin is working with the Bond franchise at the moment, with the Rapide E and who knows how many other Warwickshire products to star and cameo in Bond 25. And that's how we arrive at the fact of the Aston Martin "On Her Majesty's Secret Service" DBS Superleggera, which celebrates the sixth film in the franchise. From now on we'll call this coupe the OHMSS DBS Superleggera, which, when pronounced "Oh Ms. DBS," is a wonderful acronym. We didn't make that up, either — the first five letters are etched onto the strakes on the front fenders. In 1969, George Lazenby as James Bond drove an olive 1969 DBS in the film. This being a turbulent time for the franchise, the car had no gadgets and didn't appear in any action scenes. The best it could do for fighting was a 4.0-liter inline six cylinder with either 282 horsepower or 325 hp depending on whether it had the SU or more potent Weber carburetors. Now that we live in an era of all-action-all-the-time, the DBS Superlegerra celebrates the film's semicentennial with a 712-hp, 5.2-liter twin-turbo V12. Olive paint dresses up the carbon fiber bodywork and the cantrails and roof that are usually black. The hue gets contrasted by a six-bar horizontal grille and a delightfully ornate set of diamond-turned wheels. The interior is wrapped in Pure Black leather set off with Alcantara in the same kind of gray blend found in the 1969 DBS. The seats get outlined in red piping, matching the red-trimmed glovebox in the movie where Bond retrieved his disassembled Armalite AR-7 rifle and telescopic sight. If a buyer wishes, he can order a custom black drinks case for the trunk, designed to fit two bottles of bubbly and four flutes. Aston Martin will make 50 examples of the Oh Ms. DBS priced at GBP300,000 (about $380,000). That's around $72,000 more than the standard GT, and we'd recommend splurging on bulletproof rear glass for the new DBS, too. That will still be an easier bullet to take than the track-only, GBP2.75 million Aston Martin Goldfinger DB5 Continuation Gadget.