1967 Aston Martin Db6 on 2040-cars

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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)

Aston Martin announces $306M in funding to build DBX, 'other new luxury vehicles'

Aston Martin has just gotten one step closer to building a crossover, as the British outfit has secured a 200-million-pound (about $306 million at today's rates) infusion of capital from its leading shareholders. The money will allow Aston Martin to develop "a new vehicle based on the DBX concept," although just how closely the production model will adhere to the concept's styling is unclear. Andy Palmer, the company's CEO, also hinted at other models being added, thanks to the funds. "This additional long-term funding, will enable us to add extra model lines and broaden our presence in the luxury market segment by the end of the decade. The DBX concept has generated interest far beyond our expectations," Palmer said in the attached statement. "The additional investment announced today will allow us to realize the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history." It's unclear what these "other new luxury vehicles" will include. Previous reports have indicated a Lagonda-badged replacement for the aging Rapide will be added to the range, although considering the age of the rest of Aston Martin's lineup, it's a safe bet that at least some of this money will also be put towards vehicles beyond the new CUV and sedan. Scroll down for the full press release from Aston Martin. Related Video: ASTON MARTIN LAGONDA ISSUES GBP200 MILLION FUNDING FOR PRODUCT EXPANSION • Investindustrial and Tejara Capital led a further GBP200 million in investment capital in the form of preference shares • Enables production of DBX luxury crossover, building on range of iconic luxury sports cars • FY 2014 revenues of GBP468 million and adjusted EBITDA of GBP66 million announced 30 April 2015, Gaydon: Aston Martin Lagonda today announced that with the leadership of its major shareholders, it has arranged additional committed funding of GBP200 million, enabling the 102-year old luxury sports car manufacturer to develop significant new luxury models that will drive the future of the company under its strategic business plan. The additional capital investment comes in the form of GBP200 million of preference shares; GBP100 million of which were issued on 29 April 2015 with the remaining GBP100 million – already subscribed for - to be issued in the next twelve months, and will further expand the previously announced investment plan. This major investment in new luxury models is at the core of Aston Martin's strategic vision.

The 2016 Pebble Beach Concept Lawn was nuts as always

The Concept Lawn at the Pebble Beach Concours d'Elegance is like the smallest, most expensive car show you can imagine. A bunch of unobtanium concepts and almost-production models line an irregularly shaped putting green for people to stare at while on their way to see other, older insane cars. This year's crop was a particularly good one. We'll walk through the gallery above in order: That's a new Ford GT. Not quite a concept, but it's not in production yet, so we'll let it slide. Then there's the one-of-a-kind Bugatti Vision Gran Turismo that was recently bought by a Saudi Prince along with a matching Chiron. Next up is the Lamborghini Centenario Roadster, which was unveiled last week and is already sold out. This orange automobile is BMW's 2002 Hommage with its latest livery, a Jagermeister-themed affair called Turbomeister. This silver Infiniti, the Q80 Inspiration Concept, is an oldie but a goodie. It first appeared in Paris in 2014. The extremely long automobile after that is the Vision Mercedes-Maybach 6, which was unveiled in Monterey this year. The 6 in the name is because it's 6 meters, or about 18 feet, long. Most of that's the hood. Next we have the one-of-99 Aston Martin Vanquish Zagato coupe, which continues to be beautiful. After that is a Fisker Karma with a V8, the VLF Destino. Thank you, Bob Lutz. The black sedan you see after that is the Cadillac Escala Concept, which also made its debut in Monterey this year. Then we have a Rolls-Royce Wraith Black Badge. Not a concept, but exclusive enough to join the others. Next is the McLaren 570GT customized by MSO that arrived for Pebble 2016. It has special design touches plus an electrochromic panel to replace the normal glass roof. The light blue car is the Genesis New York concept. The name didn't change even though it was in Monterey. Then we have the large and in charge Lincoln Navigator concept, taking up two regulation concept spots. The red car with suicide doors is Acura's Precision Concept, which we first saw at the Detroit show this year. Another non-concept, the Lexus LC 500h at least looks futuristic enough to be a show-specific car. And here's a 2017 Maserati Quattroporte, which is definitely not a concept. A Bentley Mulsanne EWB, because why not? It's not available in the US, so that almost qualifies for concept status. Then there's a reproduction Lister Knobbly, which we could stare at all day.