Db7 Convertible, Balck On Black With Rare 6 Speed Manual Transmission on 2040-cars

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Major Aston Martin shareholder cuts stake in British carmaker

A top Aston Martin shareholder cut its stake in the British carmaker by nearly 5%, a regulatory filing showed on Monday. Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake of 14.99% in Aston Martin as of May 29, compared with its previous stake of 19.92%. It was not immediately clear why the fund cut its stake.  Investindustrial is the company's second-biggest shareholder after Canadian billionaire Lawrence Stroll, according to Refinitiv Eikon data. The 107-year old luxury carmaker in May posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. Aston Martin and the PE firm did not immediately respond to requests for comment. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva) Related Video:

Aston Martin makes RapidE electric car a limited edition after LeEco pulls out

Aston Martin was forced to scale back production plans for its first electric model after cash-strapped investment partner LeEco pulled out of the project, Chief Executive Andy Palmer told Reuters on Monday. The result, though, may be an even more exclusive car, aimed at customers who consider Tesla's top of the range $130,000 Model S to be a little too run of the mill. Aston Martin will build only 155 of its RapidE, about a third of the initial plan, and lean more heavily on Formula One engineering specialist Williams after the withdrawal of Chinese TV and smartphone vendor LeEco, Palmer said. The setback and Aston's response underscore the challenges and risks niche carmakers face as they scramble to address future demand for electrification from consumers and regulators. While the privately held Aston Martin brand benefits from the endorsement of fictitious spy James Bond, it lacks the backing of a large automotive parent that many rivals enjoy. "We've decided to make this car rare, which will obviously tend to push the price higher," Palmer said. "Aston Martin now plans to proceed independently, funding further development of RapidE by ourselves." Palmer agreed to be interviewed after sources told Reuters Aston Martin's partnership with LeEco had unraveled. Unveiling the alliance in February last year, LeEco and Aston pledged to launch an all-electric version of the Rapide S sedan in 2018. But the Chinese conglomerate has since slashed its electric car investments, including its U.S. startup Faraday Future's planned $1.3 billion factory in Nevada. Some Faraday suppliers, including seat maker Futuris and media provider Mill Group, have sued the company for non-payment, according to court records. Spokesmen for LeEco and Faraday did not respond to requests for comment on the end of the Aston partnership. Aston Martin declined to discuss its partner's business. $250,000 PRICE TAG Aston returned to profit in the first quarter, a decade after it was sold by Ford. Now owned by private equity groups Investindustrial and Kuwait's Investment Dar, the company is rolling out a new model each year under a taut recovery plan drawn up by Palmer, who joined from Nissan in 2014. Without LeEco's backing, the sports carmaker, based in Gaydon, Warwickshire, is pushing ahead as sole investor in the electric car, after paring down production and pushing back the launch date to 2019. The plan won board approval on June 21.

2017 Aston Martin DB11 Prototype First Drive

Flashback: Geneva. The 2017 Aston Martin DB11 debuts, its artfully sculpted body signaling a departure from the brand's luscious yet familiar design language. But this time, the car in question is more than just a pretty face. Beneath the gently arced bonnet is the first turbocharged engine in the Aston's 103 year-old history. Gone is the so-called Vertical Horizontal architecture, replaced with a bonded aluminum chassis that's so new that it has yet to be graced with a catchy marketing name. Sumptuous interior? Check. Slick multimedia system? Finally. The quickest, fastest, and most powerful DB to date? Hell yes. With radical changes coming in hot from Gaydon, the DB11 isn't just an all-new car; it's nothing short of golden opportunity to reinvent the brand. There's so much new stuff in this DB9 replacement that the double integer leap in nomenclature seems justified (the DB10 was already taken by a certain spy from Blighty). In the grand scope of the Aston Martin lineup, the DB11 inherits the DB9's role as the archetypal grand touring car—elegant but quick, thirsty for miles. But as our wheel time revealed, it takes some time to comprehend the depth of the DB11 story. When you settle into the $211,995 Aston Martin DB11 there's a lot to take in, especially since our tester is a "verification prototype" that's two stages away from final production. Hence, the data logging equipment and big red fire suppression button. The engine has shrunk from 6.0-liters to 5.2, but now churns out 600 horsepower and a whopping 516 lb-ft of torque at only 1,500 rpm thanks to those turbos. Aston claims 0 to 62 mph in 3.9 seconds and a top speed of 200 mph. The rear double wishbone suspension has been replaced with a multilink setup for greater compliance, and the DB11 also gets Aston's first-ever torque vectoring (via brakes) and electronic power steering system. The prototype car is a visual paradox, with its camouflaged exterior contrasting with the delightfully gaudy baby blue leather interior (made from extra trimmings of hide). In terms of development, the car is about "85 percent there" according to Aston brass. Disclaimer: this car's traction control system is only about 70 percent complete, and the torque-vectoring feature isn't active on this particular car. The big V12 fires up with a full-sounding rush of exhaust, though the tone isn't quite as naughty or shrill as the old naturally aspirated mill.