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Aston Martin sues dealer over $3.5 million Valkyrie supercar

Aston Martin Lagonda Global Holdings said it’s suing a company affiliated with one of its dealers in Switzerland, alleging that it withheld customer deposits collected for the $3.5 million Valkyrie supercar. The automaker accused Nebula Project AG of failing to pass some deposits taken from customers along to Aston Martin and said it has terminated an unconventional commercial arrangement its previous management team entered in 2016. Under the now-dissolved deal, Nebula had agreed to fund development of the Valkyrie and other mid-engine cars in exchange for royalty payments. As a result of terminating the agreement with Nebula, Aston Martin is no longer liable for any potential royalty payments, which could have been “significant” over time, the carmaker said in a statement Tuesday. The company also cut off its dealer arrangements with AF Cars AG, the company that operates Aston Martin St. Gallen in Switzerland, whose board members manage Nebula. A spokeswoman for the cantonal prosecutorÂ’s office in St. Gallen said they are expecting a lawsuit to be filed but hadnÂ’t received it as of noon Tuesday. A spokesman for Aston Martin St. Gallen was not immediately available to comment, according to a receptionist. The canton of St. Gallen in eastern Switzerland is home to just 510,000 people but generates gross domestic product of almost 39 billion Swiss francs ($42 billion), making it a natural fit for wealthy fans of supercars. The Valkyrie, which Aston Martin expects to start shipping in the second half of the year, is intended to compete with mid-engine models made by the likes of Ferrari and McLaren. While Aston Martin believes the net impact of its actions against Nebula will be positive over time, itÂ’s expected to reduce cash flow and earnings before interest, taxes, depreciation and amortization by as much as 15 million pounds this year. The automakerÂ’s shares traded down 1.9% as of 11:50 a.m. in London, paring an earlier decline of as much as 4.9%. Valkyrie customers will still receive their cars as scheduled, Aston Martin said, despite the company not having received all the deposited funds. The company said it will take deposits for special vehicles directly from customers going forward instead of through dealers. Aston Martin racked up significant losses after going public in 2018 and has spent the last year restructuring itself after a rescue by Canadian billionaire Lawrence Stroll, who took over as chairman.

You can buy James Bond's Spectre Aston Martin DB10

If you watched Daniel Craig sliding around Rome in Spectre and wished you could drive the Aston Martin DB10 too, an upcoming Christie's auction will be your best chance to own one. The company will sell the first of these rare cars to the public on February 18 in London, but you'll probably need a martini – shaken, not stirred – after signing the check because the coupe will likely go for over 1 million pounds ($1.4 million at current rates). The proceeds will benefit Medecins Sans Frontieres. Aston Martin designed the DB10 specifically for Bond and built 10 of them for Spectre. Underneath the carbon-fiber body, the British automaker based them on the V8 Vantage, including its 4.7-liter V8 and six-speed manual gearbox. The movie's production modified most of the DB10s for filming, but it left two untouched, including this one. Daniel Craig also signed the car. The chance to share a vehicle with James Bond sounds incredibly tempting, but you might have a hard time taking the DB10 out for a drive because Aston Martin doesn't have homologation for the car or certification for it to be on public roads. However, you could still enjoy pretending to be a secret agent around a track or another piece of private tarmac. UNIQUE OPPORTUNITY TO OWN AN ASTON MARTIN DB10 PREDICTED TO RAISE OVER GBP1 MILLION FOR CHARITY The only DB10 to date to be made available for private ownership Opportunity to own a piece of automotive history To be auctioned on February 18th to raise money for Medecins Sans Frontieres 21 January, 2016, Gaydon: The Aston Martin DB10 – the first car created exclusively for James Bond by British luxury brand Aston Martin – is to go under the auctioneer's gavel at the London auction house of Christie's on 18th February with proceeds donated to Medecins Sans Frontieres. 'Spectre – The Auction' celebrates the release of the 24th Bond film on Digital HD, Blu-ray™ and DVD with 24 special auction lots going under the hammer for charity, led by the Aston Martin DB10. Celebrating the great British brand's half century with Bond, which started with the iconic DB5, the DB10 gives a glimpse of the future design direction for the next generation of Aston Martins. Production of the DB10 was strictly limited to ten examples of the bespoke sports car which was developed and hand-built by the designers, engineers and artisan craftspeople at Aston Martin's Gaydon headquarters in the UK for the latest Bond film, Spectre.

2017 Aston Marin Lagonda could live on Mercedes M-Class platform

A few weeks ago, we brought you news from the launch of the Aston Martin Vanquish Volante that the British brand, which is formally known as Aston Martin Lagonda, was still planning on going ahead with a Lagonda-badged crossover. Now comes word that that vehicle could very well be based on a Mercedes-Benz M-Class.
When the first Lagonda Concept debuted at the 2009 Geneva Motor Show, it sat on a Mercedes-Benz GL-Class platform, some four years before Aston Martin and Mercedes-AMG deal was inked. And with that partnership, which will see Aston Martin gain access to AMG electrics and "bespoke, V8 powertrains," the opportunities for platform sharing are many.
Dr. Ulrich Bez, the boss of Aston Martin, told the UK's AutoCar, "I look at what Porsche is doing with the 911 as its core business and then it is able to do models like the Cayenne based on the Volkswagen Touareg. It is good business." We've said many times that we'll tolerate exotic CUVs and SUVs if it means keeping the beloved core models alive, which has been the case with Porsche. We see no reason Aston Martin wouldn't be able to do the same.