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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.

Vanquish 60th anniversary model has knobs made from classic Aston Martins

To celebrate 60 years at Newport Pagnell, Aston Martin Works is producing six different takes on the Aston Martin Vanquish in conjunction with personalization arm Q by Aston Martin, each themed to one of the previous six decades. The collectibles will come in coupe and convertible forms and wear exterior features that immediately identify them as anniversary cars, but their finest detail is in the cockpit: the metal for the console knob bezels will come from pistons taken out of six Aston Martins built in Newport Pagnell over the past 60 years. The first has been shown at the company's Christmas gathering for customers, and it represents the most recent decade, 2005 to 2015; its knob bezels come from pistons that once did duty in an original Vanquish. Working backwards through time, the remaining five cars will be ornamented by pistons from a V8 Vantage supercharged, a V8 Vantage X-pack, a V8 Coupe, a DB5 and a DB 2/4 Mk II saloon. One of the bezels in each car will be inscribed with the relevant model, the other bezels will feature 60th anniversary text. Elsewhere around the offerings, each will be ornamented with Anniversary Yellow side strakes and wheels, heavy weave carbon fiber, the Q symbol on the fenders, the new Aston Martin Works 60th Anniversary logo embroidered into its leather and embossed on its sideplates and duotone seats with yellow cross stitching. You must apply to the Works department to ascertain the price, or you can head below to read the press release, which is free. ASTON MARTIN WORKS 60TH ANNIVERSARY LIMITED EDITION VANQUISH - Six bespoke models celebrate Aston Martin Works' 60th anniversary - Cars incorporate aluminium from Aston Martin pistons of relevant eras - Unique colour and trim treatments ensure ultimate exclusivity 12 December 2014, Newport Pagnell, Buckinghamshire: Aston Martin Works – which marks its diamond jubilee in 2015 – is celebrating 60 glorious years at Newport Pagnell with the commissioning of six limited edition sports cars. The first of the cars is being revealed today, Friday December 12, at the Buckinghamshire-based firm's customer Christmas celebration, which also forms the start of 12 months of exciting anniversary activity at Aston Martin Works. The six bespoke cars, all versions of the current Vanquish super GT in either Coupe or Volante form, are being created in association with the luxury British brand's Gaydon-based design team, and its ultimate personalisation service: Q by Aston Martin.

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)