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Aston Martin to raise funds for new models including CUV, hybrid

Aston Martin CEO Andy Palmer named three leads for new vehicle programs when he took the reins, now the company is looking for the money to give those leads something to do. Reuters reports that the Gaydon firm is considering debt or equity financing to raise 100 to 150 million pounds ($156M to $234M US) in funding for "an expansion from the current model range," according to an unnamed source. On top of that investment round, Aston Martin is overhauling its working capital streams to unlock more funds. As one of the industry's few remaining independent carmakers, the company has an intense five years ahead of it, working to revamp its current vehicles with a 500-million-pound investment, entering new segments to grow sales to roughly 10,000 units annually from 4,200 cars in 2013, and pay down hundreds of millions of pounds in current debt. The big high notes observers will be looking for over the next few years are the successor to the DB9, pegged for 2016, profitability predicted in 2017, a huge debt note due in 2018, and the formal end of the recovery period in 2020. Our own eyes will be locked on the DB10 in Spectre, naturally, and the Lagonda-honoring Taraf in other markets, hopefully. At least one of the new vehicles is expected to be a crossover, a segment Aston seemingly cannot ignore now that Bentley and Rolls-Royce are committed to making plays there. However, Reuters says an official announcement of what we can expect won't come until the 2015 Geneva Motor Show. Among the other models said to be up for funding? Sedans (perhaps including a Rapide replacement?) and an unspecified hybrid.

Aston Martin eyes US market for growth

Aston Martin chief executive Andy Palmer is sitting in a rustic Tuscan villa on a sweltering summer night, but his mind is thousands of miles away. He's ruminating on the United States, a lucrative market that could secure Aston's future as an automaker that has proved elusive for decades. The reason? Aston has an identity crisis. Sure, Americans know what Aston Martin is. Mostly. Palmer compares it to the British game of cricket. Many Americans have heard of it. They might even have a vague notion of what it is, but that's about as far as things go. It's the same with Aston. Candidly, Palmer places the blame squarely on his company, admitting Aston executives have been complacent about America. "We've got some work to do in the United States. I think we have assumed that you guys get it because you speak our language," he told a group of mostly US journalists at the launch of the 2017 DB11. That ends now, Palmer said, and Aston's plan to fix the problem will come into sharper focus with the launch of the DBX crossover for 2019. The utility vehicle was designed for an American buyer because the US market is SUV heavy. The target consumer? Someone named Charlotte, a 42-year-old from Southern California. Palmer describes her as someone who wants an elevated ride height and functionality. "She's looking for that safe, secure feeling," Palmer said. The company is adding 750 people and building a factory in Wales to produce the DBX. The site will be able to make 7,000 units annually, which dovetails with Aston's goal of making 7,000 sports cars per year. It's an ambitious plan for a company that made 3,615 cars in 2015 and posted an operating loss. This potential growth is still a few years off, meaning the brand's new DB11 must be a success. Early signs are trending well, and Aston had taken 2,000 orders by the end of June. After that, the company will redesign the Vanquish and Vantage and add the usual open-top variants. Aston's investors have already funded the sports cars and the DBX, and product development spending rose 40 percent in 2015. Aston's ownership group includes a Kuwaiti consortium, Italian backers, and a minority stake held by Daimler, which provides technology like infotainment and V8 engines. In total, Aston plans seven new vehicles in six years.

Question of the Day: What's the greatest British car ever?

The British automotive industry has produced everything from high-production econo-commuters to staggeringly luxurious oligarch-wagons, along the way winning plenty of races and building plenty of beautiful machines. The original Mini led directly to the past half-century of transverse-engine, front-wheel-drive cars built everywhere, the MGB put the sporty little convertible into everyone's reach, and the Morris Oxford became the most beloved motor vehicle in India. So many to choose from, but we want you to pick one. What will it be? Related Video: