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Aston Martin will make a profit for the first time since 2010

LONDON — Aston Martin is on course to post its first annual pre-tax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance. Pre-tax profit reached 22 million pounds ($29 million) in the first nine months of 2017, reversing a loss of 124 million pounds in the same period in 2016, Aston said on Wednesday. "Our strong financial performance and continued profitability reflect the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year," Chief Executive Andy Palmer said. Asked on Monday whether the firm would be in the black this year, Palmer told Reuters: "It's our intention to be." Aston Martin, which is mainly owned by Kuwaiti and Italian private equity firms, last posted a profit in 2010. Its losses then grew, partly due to lack of new models, a high-profile recall and an extended period without a chief executive. Since Palmer's appointment in 2014, the firm has pursued a turnaround plan designed to boost its model lineup, quadruple volumes and produce its first SUV at a new plant in Wales, setting up a possible stock market flotation. Volumes rose 65 percent to 3,330 cars in the first nine months of the year, prompting the firm to raise its full-year guidance to expect core earnings of at least 180 million pounds on revenue of over 840 million pounds. Third-quarter profit stood at 0.8 million pounds, reflecting a quieter period across the car sector when demand falls as people take holidays and some customers prefer to wait until after the vacation period to have their cars delivered. On Tuesday, the firm launched its new Vantage model, which will take its output to 7,000 sports cars in 2019, its highest level in a decade. Related Video:

Nissan could have bought a stake in Aston Martin as early as 2012

Aston Martin has a very interesting future ahead of it. While the British brand appeared to be struggling with aging tech for a while, fresh investment from Daimler may have shown a light toward the future with the brand getting engines and electronics from them. Also, former Renault-Nissan top exec Andy Palmer has jumped ship from the French/Japanese automaker to become CEO of the much smaller sports car company. Interestingly, though, new reports from unnamed Nissan sources have indicated that Palmer has been pushing to work with AM for years.
Three unnamed company insiders told Reuters that Palmer made attempts to convince Renault-Nissan CEO Carlos Ghosn in 2012 and 2013 to invest in Aston Martin, but his proposals were shot down both times for unspecified reasons, according to Automotive News. "We looked carefully at the proposal but we passed on it," said one of the sources.
You can easily see why Palmer was eying Aston Martin even back in 2012. It's no secret that the British sports car mavens were in need of extra funding, well before the Daimler investment. Building vehicles these days is only getting more expensive with stronger safety and emissions requirements. Just look at the brand's desperate hope to get a side-impact crash exemption to keep selling its models in the US as an example.

Aston to show $99k V8 Vantage GT, special editions in NY [w/video]

Aston Martin has never been touted for the affordability of its cars, but with its new V8 Vantage GT, it's at least taking a stab at the concept. Priced at $99,900, the company probably feels like it's giving them away. Aston Martin says its Vantage GT is inspired by its long history in motorsports. Available as either a coupe or convertible (at extra cost), the GT packs the automaker's 4.7-liter V8 pumping out 430 horsepower and 361 pound-feet of torque capable of getting it to 60 miles per hour in 4.6 seconds and to a top speed of 190 miles per hour. Buyers can choose between either a seven-speed automated manual with magnesium paddle shifters or a traditional six-speed manual. Despite the stripped-down price, buyers aren't going to be missing many amenities in the GT. It comes standard with graphite-painted alloy wheels and black trim around the headlights side windows, exhausts and taillights. An optional graphics pack recalls Aston Martin's 24 Hours of Le Mans success with contrasting colors on the grille, mirror caps, rear diffuser and – on coupes – the A-pillar. The interior gets carbon-fiber sill plates, Alcantara door panels and sport seats from the V12 Vantage S. North American sales begin in the third quarter. The other new Aston slated for reveal at this week's New York Auto Show is the DB9 Carbon Edition, which is aimed at carbon fiber lovers. It adds loads of the stuff inside and out in a traditional mix of luxury and high performance. It begins as a standard DB9 with a 6.0-liter V12 rated at 510 hp and 457 lb-ft and a six-speed automatic transmission. The big engine cruises to 60 mph in 4.6 seconds and to a top speed of 183 mph. The Carbon Edition is actually separated into two different editions. Carbon Black models come in Carbon Black II exterior paint, and Carbon White models use Stratus White. Both come with a wide variety of carbon trim, including on the side strakes and taillight trim, with a black mesh grille and window trim accentuating the look. Buyers can also add an optional carbon fiber front splitter rear diffuser and mirror caps. Prices start at $199,995 and deliveries begin in the third quarter. Scroll down to get all of the details on the new Astons, and to see a Bloomberg video with Julian Jenkins, Aston Martin's president of the Americas, talking up his company's new entry-level baby. The video meant to be presented here is no longer available. Sorry for the inconvenience.