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Mercedes-Benz to boost stake in Aston Martin to 20%, lend it some tech

Daimler unit Mercedes-Benz is to lift its stake in Britain's Aston Martin to up to 20% by 2023, making it one of the struggling British carmaker's largest shareholders, Aston said on Tuesday. Aston Martin, popular for being James Bond's carmaker of choice, has suffered a torrid time since it went public two years ago, with its shares losing two-thirds of their value this year. The 107-year-old firm hired Tobias Moers, former CEO of Mercedes-AMG, as its new boss from August. Aston said the increase in Mercedes-Benz's stake, from 2.6% currently, would take place in several stages as part of a wider issue of 250 million shares at 50 pence each. The stock issued to the German group will have a maximum value of 286 million pounds ($372.7 million), it said. The deal will see an existing supply agreement between the two firms, in place since 2013, expanded to give Aston Martin access to key Mercedes' technology, including hybrid and electric drive systems. "We take another major step forward as our long-term partnership with Mercedes-Benz AG moves to another level, with them becoming one of the company's largest shareholders," said Aston's chairman and biggest shareholder Lawrence Stroll. The German firm will get the right to nominate one non-executive director to Aston Martin's board after its first shareholding increase, the London-listed firm said. Aston, which has started deliveries of its first sport utility vehicle, the DBX, said on Tuesday it swung into an adjusted core loss of 29 million pounds in the third quarter, versus a profit of 43 million pounds last year. Revenue in the period nearly halved to 124 million pounds, it said. Aston Martin is targeting annual capex of 250 million pounds to 300 million pounds per year between 2021 and 2025. It envisages production volumes of about 10,000 units, revenues of about 2 billion pounds and adjusted core profit of 500 million pounds by financial years 2024 or 2025.

European automakers overstate fuel economy by 40% on NEDC cycle

Volkswagen is apparently not alone among European automakers when it comes to giving out funny emissions or fuel economy numbers. It turns out that pretty much everyone across the Pond is doing it. So much, in fact, that, on average, the difference between European vehicles' fuel-economy and emissions figures and real-world driving results is about 40 percent, Bloomberg says, citing a report from Brussels-based Transport & Environment. Yes, 40 percent. Mercedes-Benz was the worst offender, as the Daimler division on average overstated its vehicles' fuel economy by 48 percent, said the study, which used data from International Council on Clean Transportation (ICCT). That automaker isn't exactly a world-beater for fuel economy in the US. In fact, two of its models, the Mercedes-Benz G 63 AMG and the G550 (pictured), showed up on the American Council for an Energy-Efficient Economy's (ACEEE) annual list of cars that are "meanest" to the environment. "The information provided by manufacturers on fuel consumption is based on the NEDC test cycle, which is prescribed by law and conducted in a laboratory. Since real driving conditions generally deviate from conditions in the laboratory, the consumption figures can also deviate from the standardized figures. Since T&E has unfortunately not published the test conditions used in its study, it is not possible to provide a useful analysis of the test results," Mercedes-Benz wrote in an e-mailed statement to Autoblog. "The data pool used also does not allow a thorough scientific assessment. Mercedes-Benz emphatically supports the introduction of the WLTP (Worldwide Harmonized Light Vehicles Test Procedure). This is supposed to replace the NEDC with the aim of bringing the rated fuel consumption and the actual consumption closer together. We also actively support the dialog between industry (ACEA) and the authorities, and are in regular contact with the EPA and the ARB in the US." The ICCT is the group that helped spur the investigation that led to the Volkswagen diesel-emissions scandal we're all still talking about, so it shouldn't expect Christmas cards from the largest German automakers this year. This new study came from data taken from about 600,000 cars. That's a lot of funky air floating over Rome. The overstatements were pretty widespread, too. The fuel-economy of the BMW 5 Series was overstated by almost 50 percent, as was the Peugeot 308's.

Mercedes GLC spotted nearly nude ahead of tomorrow's reveal

Mercedes is set to officially take the wraps off its new GLC-Class crossover tomorrow, but if you can't wait that long, here it is all but completely undisguised. The GLC, for those just joining us, is the replacement for the GLK, rounder and renamed to align more closely with the C-Class. It was previewed as a slant-roofed concept in Shanghai, but as you can see, it'll reach production with a more conventional greenhouse. Rooflines (and various show-car details) aside, the production GLC looks pretty close to the aforementioned Concept GLC Coupe. Certain elements on this pre-production unit still remain taped up to keep from our prying eyes – though the engineer driving it doesn't seem to mind. We can at least hope that rather ungainly looking chrome lower rear bumper element is just there to throw us off, or will look more convincing as part of a complete package. But we'll be finding out one way or another tomorrow... so watch this space. Related Video: