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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.

Q by Aston Martin makes a 430-hp V8-powered Cygnet

A V8-powered Aston Martin Cygnet with 430 horsepower and 361 pound-feet of torque could be the best definition of "Didn't see that coming" we've had all year. A customer requested the carmaker's customization arm, Q by Aston Martin — Commission, insert a 4.7-liter V8 from the last-gen Vantage S into the Cygnet's engine bay. The grafting job, dressed in Buckinghamshire Green, weighs 1,375 kilograms or 3,025 pounds with fluids, and posts a power-to-weight ratio of 284 hp-per-ton in U.S. parlance, 313 bhp/tonne in UK units. Aston Martin engineers shortened the intake system to keep the Cygnet's standard hood unmolested. The motor blows out the other end through a twin, centrally-mounted exhaust at the end of very short pipes. Other components carried over from the Vantage S include the front and rear subframes, suspension, most of the braking system, and seven-speed Sportshift II transmission. Torque steer isn't an issue, because the rears do the driving via a "miniature" torque tube that runs underneath a custom tunnel. Carbon wheel arches shield 19-inch wheels shod in 275/35 Bridgestone rubber, with six-piston monoblock calipers in front, four-piston monoblocks in back. In spite of Aston Martin calling this "The Ultimate City Car," additional modifications would indicate the owner has ultimate track plans for the V8 Cygnet. The Q department welded in a roll cage, occupants sit in fixed Recaro buckets with four-point harnesses, the driver grips a removable, Alcantara-covered steering wheel, there are leather pull straps on carbon door panels, a steel fuel tank fills the cargo area, and an FIA-compliant fire extinguisher system keeps things cool if the temperature gets too hot. Should the V8 Cygnet pretend to its city car origins, there's a Vantage instrument cluster, air conditioning, and two USB ports. Goodwood Festival of Speed visitors will get to see how she runs up the hill. The original Cygnet, based on the Scion iQ and out of production since 2013, got from 0-60 miles per hour in about 11 seconds. The V8 Cygnet does that in 4.2, and taps out at 170 mph — 60 mph past the standard Cygnet's top speed. Aston Martin says the original Cygnet "looks set to become a future classic." That could be optimistic. The V8 Cygnet, however, just might have the chops. Related Video: Featured Gallery Aston Martin V8 Cygnet View 12 Photos Aston Martin Hatchback Luxury Racing Vehicles Special and Limited Editions aston martin cygnet q by aston martin

Aston Martin Valkyrie Spider loses roof, swaps doors, keeps the speed

The Aston Martin Valkyrie family has officially expanded to three models with the introduction of the Valkyrie Spider at Monterey Car Week. And as the name suggests, it's a convertible. The new roof required a few tweaks, but the car is still basically the same as the hardtop. The Valkyrie Spider's roof is a removable hardtop made of carbon fiber and featuring hinged polycarbonate windows on either side. This is to allow easier entry and exit with the roof in place. Also, because the roof is removable, the Spider couldn't have the gull-wing doors of the coupe. So Aston Martin reengineered it to have butterfly doors. A few other undisclosed aerodynamic changes were made, too. Though Aston Martin didn't say by how much, the company did say the Spider is a bit heavier than its closed counterpart. But owners are unlikely to really notice since they'll be working with the same 1,139 horsepower from the 6.5-liter V12. And really, even if the weight change were noticeable, it would probably be covered up by the fact that you'll be able to hear that engine much better. It's still extremely fast, capable of around 205 mph with the top off, and around 217 mph with the top in place. Aston will build 85 Valkyrie Spiders. No pricing or availability was given, and there's a distinct possibility all the examples have been sold already. The people who are lucky enough to get one should expect their cars to arrive in the second half of 2022. Related video: