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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.

James Bond's Aston Martin DB10 sells for $3.5 million

We expect the person that just paid 2,434,500 pounds ($3.48 million at current exchange rates) for James Bond's Aston Martin DB10 from Spectre enjoyed a stiff martini after writing the check to Christies. The sale price shattered the original estimate of at least $1.4 million. The proceeds from the coupe's auction went to Medecins sans Frontieres, and the movie's memorabilia brought a total of 2,785,500 pounds ($3.98 million) for charities. Aston Martin made just 10 examples of the DB10 to shoot Spectre, but the crew modified most of them to film the movie's stunts. This was one of two that the production left untouched. It's also the first DB10 available for sale to the public, and actor Daniel Craig signed the car. The DB10 features a carbon-fiber body that's perfect for the world's best known secret agent, and underneath the beautiful design, these cars have the platform, 4.7-liter V8, and six-speed manual gearbox from a V8 Vantage. Even though they use production-based parts, Aston Martin doesn't certify the DB10s for public roads. However, we presume the new owner has a sprawling estate to enjoy his or her purchase. Related Video:

Aston Martin may have filed a trademark for a new logo [UPDATE]

UPDATE: Aston Martin did indeed file a trademark for the logo below, but company CEO Andy Palmer has confirmed it will be used for merchandise and won't replace the classic winged logo on cars. Here's Palmer's tweet: For those who reached out, we have no intention to remove/change the Aston Martin Wings.This logo is for merchandise https://t.co/iWdejAwO00 — Andy Palmer (@AndyatAston) January 23, 2017 "There's a shortage of perfect breasts in this world. It would be a pity to damage yours." Those words were spoken by Cary Elwes in the classic 1987 film The Princess Bride. Or, if you prefer, they were written by William Goldman in his book from 1973 by the same name. Either way, it doesn't matter. The point is, there aren't many things in this world that are perfect, and that have stood the test of time without alteration. The Aston Martin logo is one of those rare things. Apparently, Aston Martin filed a trademark application for a new logo. You can see it below. It's unclear where this design might make an appearance. If it's on pens, watches, or some other non-vehicular form, that's fine. If it's on the bonnet of a new supercar rolling down the line at Aston's plant in Gaydon, well... that's another matter entirely. Please, Aston Martin, your logo is perfect and has stood the test of time. Don't even think about changing it. Related Video: