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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.

This Aston Martin V8 Vantage prototype sounds like it has AMG power

We've known for a while now that the next Aston Martin V8 Vantage would get power from a turbocharged Mercedes-AMG engine, but this is the first time we've had a chance to hear it. The video above, recorded by Autoevolution, shows a prototype of the 2018 Aston Martin Vantage cruising around roads near the Nurburgring. The sound is definitely similar to other V8-powered Mercs, and absolutely does not an Aston power plant. As for how good it sounds, the office is split. At least we're in agreement that it's good the car will probably be offered with a manual transmission. We can also pick out a few little details from the body. This new Vantage will get fender vents like those on the DB11 starting from just behind the front wheel arch. The DB11's high and wide rear haunches will carry over as well. This particular prototype has a very deep chin spoiler up front, which may indicate there will be more than one version. The headlights are concealed well, but considering the similarities to the DB11 in other areas, we'd expect similar swept-back headlights up front. Basically, the Vantage is shaping up to continue Aston's tradition of similarly shaped sports cars in different sizes, but that's hardly a bad thing when the resulting cars look so good. Related Video: News Source: Autoevolution / YouTube via Road & TrackImage Credit: Autoevolution / YouTube Spy Photos Aston Martin Coupe Future Vehicles Performance Videos viral video mercedes-amg aston martin v8 vantage

Rare 1958 Aston to be auctioned in Tennessee

Decaying Aston Martins are showing up on the auction block all over the world. The final, original DBS recently went up for bid in the UK, and to go up for sale on the other side of the Atlantic, a 1958 DB Mark III was recently found wasting away in a Tennessee garage. "I didn't know much about it, except it was old and worth some money," said owner Tammy Maxwell to Clarksville Now. Her husband bought the Aston in Hawaii in 1975 and carried the car along with him until the family settled in Tennessee. He originally intended to restore it but an illness got in the way. Now, the vintage coupe is crossing the auction block in Cumberland Furnace, TN, on April 11 through Auction World Gallery. This example is in very rough shape, though. The paint and trim are gone from the entire front end, and the interior is a rat's nest of parts. There's no mention of whether the powertrain is intact, although a crankshaft is visible sitting in the boot and possibly a carb on the passenger seat. It's going to be a big project to get this Mark III back on the road. According to Aston Martin, the company built just 552 examples of the DB Mark III, and 462 of them were the coupe body style shown here that featured a hatchback. Power came from a 2.9-liter inline-six routed through a four-speed manual gearbox. The car also grabbed a unique footnote in pop culture history as James Bond's car in the book Goldfinger, rather than the DB5 in the film version.