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UK car output falls 14% in March, may get worse with no-deal Brexit

LONDON — British car output fell for the 10th month in a row in March, hit by a slowdown in key foreign markets, and the sector stands to suffer a lot more if the country leaves the European Union without a deal, an industry body said on Tuesday. Output tumbled by an annual 14.4 percent to 126,195 cars in March, the Society of Motor Manufacturers and Traders said. Exports, which account for nearly four out of every five cars made in Britain, were down by 13.4 percent. The SMMT said analysis it had commissioned predicted output would fall this year to 1.36 million units from 1.52 million in 2018, assuming London can secure a transition deal with the EU. If Britain has to rely instead on World Trade Organization rules for its trade with the bloc, which include import tariffs, output is forecast to fall by around 30 percent to 1.07 million units in 2021, returning to mid-1980s levels, the SMMT said. The forecasts were produced for SMMT by AutoAnalysis, a consultancy. Prime Minister Theresa May has secured a delay to the Brexit deadline until Oct. 31, giving her more time to try to break an impasse in parliament over the terms of Britain's departure from the EU. Foreign minister Jeremy Hunt traveled to Japan earlier this month to try to persuade the Japanese government and Toyota, which has a big presence in Britain, that London was determined to avoid a no-deal Brexit. "Just a few years ago, industry was on track to produce 2 million cars by 2020 — a target now impossible with Britain's reputation as stable and attractive business environment undermined," SMMT chief executive Mike Hawes said. "All parties must find a compromise urgently so we can set about repairing the damage and diverting energy and investment to the technological challenges that will define the future of the global industry." (Reporting by William Schomberg, editing by David Milliken)

Cash influx could help Aston Martin double sales

Aston Martin is on the verge of a major product overhaul – complete with new architecture and powertrains. And good thing, considering that the Vantage and DB9 are each about a decade old. But to make it all happen, the British automaker is going to need a massive capital influx. Fortunately, that's just what it got when Investindustrial came on board. The Italian private equity fund, which previously owned a large chunk of Ducati and is now building a Ferrari theme park in Spain, bought a 37.5 percent stake in Aston Martin back in 2012. The acquisition reportedly cost Investindustrial the better part of a quarter billion dollars, but that's not the end of the firm's investment in Aston. According to Bloomberg, Investindustrial is now pouring even more into the Gaydon-based marque to help fund its product blitz. The output of that investment is expected to be announced at the upcoming Geneva Motor Show. That's where Aston's new chief executive Andy Palmer (whom Investindustrial reportedly helped poach from Nissan) is tipped to announce the company's new product plan that is earmarked to help double the company's sales from around 4,000 units last year to as many as 8,000 once those new products reach the market. The plan will assuredly include replacements for Aston's trademark luxury GTs, but could also encompass a new crossover utility vehicle to give it a greater foothold in growing markets like China while taking on similar new products from key rivals like Bentley and Maserati. While those two competitors are owned by larger auto groups – Volkswagen and Fiat Chrysler, respectively – Aston is independent. It's brokered a deal with Mercedes (thanks once again in no small part to Investindustrial) to help with components it can't effectively develop in-house, but the cash injection will be critical to the brand's revival plans.

Aston Martin GT8 is lightest and most powerful V8 Vantage ever

Aston Martin has revealed the upcoming GT8 variant, a race-inspired limited edition much like the earlier GT12. Only 150 will be built – 50 more than the 12-cylinder sibling. And like the GT12, none of those will be coming to North America, either. The car has already been offered to select customers, with a sketch depicting the car but without finalized photos, as the manufacturer wanted to keep the car under wraps until the unveiling. As the GT12 uses the six-liter V12 engine, the GT8 is based on the Vantage V8 and uses a 4.7-liter powerplant with 446 horsepower, a slight hike from the regular car's output. The bodywork has been made out of carbon fiber, granting it the title of being the lightest and most powerful V8 Vantage built. According to Aston Martin, all the bodywork is race-bred and not just there for show. Aston's Director of Special Projects and Motorsport, David King says that Aston Martin has "long desired to create a road car that truly reflects our racing activity at Le Mans", and that the GT8 achieves that. View 13 Photos Regarding the choice of transmission, the GT8 follows in the footsteps of the GT12 – either a six-speed manual or the seven-speed Sportshift II paddle-shift, whichever seems to suit the buyer of the motorsport-themed car. The buyer can also decide on optional weight saving measures, as the roof is also available in carbon fiber and the side and rear windows in polycarbonate. Still, there are A/C and audio systems to make the limited edition car a little more bearable than its racing counterparts. There are three optional "Halo" paint schemes to choose from, combining China Grey with blue, Stratus White with green and Stirling Green with lime detailing, the last of which is seen in these press images. Prices start from GBP165,000 ($233,880) and deliveries commence in late 2016. Related Video: News Source: Aston MartinImage Credit: Aston Martin Aston Martin Coupe Racing Vehicles Special and Limited Editions Supercars Videos vantage v8