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Aston Martin seeks ‘big brother’ despite first profit in years, IPO talk

Aston Martin just reported that it earned $121 million (or GBP87 million) in 2017, its first profit in eight years, and it's preparing for a possible initial public offering, eyeing a valuation as high as $6.95 billion (GBP5 billion). It has a strategy to begin converting its fleet to hybrid and electric powertrains. Nevertheless, the low-volume British luxury marque says it needs a helping hand to survive the wave of autonomous driving technology sweeping the automotive industry. CEO Andy Palmer tells Bloomberg it's looking for a "big brother" partner to help it with the billions of dollars in capital requirements posed by the dawn of driverless cars. "We are making a new kind of company, a company that can survive on 7,000 to 14,000 very highly priced, very profitable cars a year, but it can survive because of its partnerships," Palmer told Bloomberg TV. "It can be very profitable on that 7,000 to 14,000 cars a year but only by having a big brother that can help it out." Palmer said Aston Martin already has a partnership with Daimler AG, which owns a 5-percent stake in the company, to develop autonomous capabilities, but more help is needed. One assumes he is envious of competitors like Rolls-Royce and Bentley, which benefit from the corporate parentage and financial resources of BMW and Volkswagen, respectively. Sales grew 48 percent in 2017 to nearly 5,100 units, Aston's highest sales volume in nine years, on the strength of the DB11 sports car, which starts at $211,995. It was enough for Palmer to proclaim in a release, "The financial turnaround of Aston Martin is now complete." While it shops around for a sugar daddy, Aston Martin is busy building a new factory in Wales, set to open in 2019. It has launched new models like the DB11 Volante and Vantage, plus the limited-production DB4 GT Continuation model. Further out, the company is building 155 examples of its first electric car, the RapidE, due in 2019, and it's developing an electric version of the DBX crossover, also for 2019. Palmer has said Aston Martin will offer all six of its vehicles in hybrid variants by 2025, with 25 percent of its vehicles to be fully electric by the end of the 2020s. Related Video: Image Credit: Aston Martin Aston Martin Autonomous Vehicles Electric Luxury aston martin rapide aston martin vantage aston martin db11 aston martin dbx aston martin db11 volante

2018 Aston Martin DB11 Volante First Drive Review | The speed of style

If you're not a car designer, chances are you've tried to draw a sportscar, and realized just how hard it is to get those proportions just right. One false line, and the sleek coupe of your imagination looks like a kumquat. So you can imagine that transforming the striking V8-powered Aston Martin DB11 coupe into an equally stunning Volante ragtop was harder than it looked, a task which required Aston designers and engineers to nip and tuck everything past the windshield. "There were lots of healthy, heated debates," lead designer Julian Nunn says of how the DB11 Volante – fancy speak for convertible – was packaged. As it sits before us on a brisk winter morning in Southern France, the British drop-top has a sleek, fleet look thanks to the elegant rake of its nose, the sharp arc of its roofline, and the taut contours of its derriere. Aston's designers nailed the proportions – it's a stunner. How they got there was a game of millimeters, starting with a minuscule lift of the haunches to accommodate the eight-layer folding soft top. To soften the look of those lifted surfaces, the wheel arches are faceted slightly inboard, lending them more depth and dimension. The convertible loses the air vent at the rear, since there's no roof to create lift; as such, the so-called AeroBlade feature which ducts air through the C-pillar is also gone. But the rear spoiler remains, automatically deploying for downforce with a speed-dependent algorithm based on driving mode. The stack height (that is, the vertical space occupied by the folding roof) measures 10 inches, the lowest in its class, which helps the DB11 achieve its graceful looks with the added benefit of keeping the center of gravity low. The top takes 14 seconds to lower, and will drop at speeds up to 31 mph. A Volante with its top down puts Aston's typically gorgeous cabin on full display: the door's brogued leather details surrounded by an improbably shaped veneer surround; the complex curvature of the veneer around the capacitive touch-sensitive infotainment interface; the improbably generous swaths of leather and Alcantara upholstering the dashboard and A-pillar surfaces. There's even, for the first time, veneer on the backs of the front seats. The tiny rear seats come with ISOFIX car seat attachments, a first in a Volante. I could go on about the DB11's unusual and intriguing aesthetic choices, but I've also got a persistent gripe with the electronic instrument cluster.

F1 to offer track rides with Alonso, Verstappen, Hakkinen

It's not often that a Formula 1 fan gets to experience what an F1 track feels like from the point of view of a racing driver. An in-car camera just goes so far, and tracks are not always open for the public, or even for track days. Now, a special Hot Laps program announced by Formula 1 and Pirelli means some lucky participants are able to take part in ridealongs on the same F1 tracks where all the racing action happens. The first two manufacturers that have announced their participation are Aston Martin and McLaren, and as a result the Vantage and 720S will be used in the program. More car manufacturers have reportedly signed up, and they will be named in the near future. The first Hot Laps will be driven at the 2018 Bahrain GP. The best is still to come. The professional racing drivers that have enlisted for the Hot Laps program are Daniel Ricciardo and Max Verstappen for Aston Martin, and the McLarens will be driven by Mika Hakkinen, Lando Norris, Fernando Alonso and Stoffel Vandoorne. Imagine being taken for a ride by such wheelmen! Just doing a grocery run with Alonso behind the wheel would probably be exciting enough, let alone getting a track experience. Of course, the one thing that hasn't yet been mentioned is the price. We can't imagine a lap can be very modestly priced in this case, but it will sure be a once-in-a-lifetime thing. Unless you can afford two laps, that is. Related Video: Motorsports Aston Martin McLaren Luxury Performance Pirelli Max Verstappen lando norris

Daniel Craig's personal James Bond Aston Martin is for sale

LOS ANGELES — James Bond is parting with his personal Aston Martin. Actor Daniel Craig, who has played the British spy known as 007 in four films, is auctioning for charity the limited-edition vehicle made for him by Aston Martin four years ago, Christie's auction house said on Thursday. Aston Martin cars have appeared in Bond films over nearly 50 years, beginning with 1964's "Goldfinger" in which Sean Connery drove a silver Aston Martin DB5. The brand has appeared in all four Bond films starring Craig. Craig's personal car is a 2014 Vanquish that Aston Martin produced just 100 examples of to celebrate its 100th anniversary. Craig's vehicle is, naturally, number 007. "It was an homage, really, to his career," Becky MacGuire, director of Christie's' The Exceptional Sale, said in an interview. "What he's brought to the Bond character has been so appreciated by the company and, of course, zillions of fans." The vehicle has a midnight blue exterior and dark blue luxury leather interior chosen because of Craig's preference for denim and dark colors, Christie's said. Proceeds from the sale will benefit New York-based charity The Opportunity Network, which helps students from disadvantaged communities achieve their college and career goals. Craig and his wife, actress Rachel Weisz, both sit on the organization's board of directors. The car's value is estimated at $400,000 to $600,000. It will be displayed at Christie's showroom in Los Angeles from Feb. 27 to March 3 before moving to New York, where it will be auctioned on April 20 as part of Christie's annual decorative arts masterpiece sale called The Exceptional Sale. Last year, Craig said he will reprise the role of James Bond one last time. The film is expected to be released in U.S. cinemas on Nov. 8, 2019.Reporting by Nichola Groom Related Video:

UK electric motor maker YASA expands production 50-fold for EVs

LONDON — British electric motor manufacturer YASA said on Thursday it was increasing its production capacity from 2,000 to 100,000 units with a new factory to tap into growing demand from carmakers for greener technologies. Automakers are racing to build greener vehicles and improve charge times in a bid to meet rising customer demand and air quality targets but Britain lacks sufficient manufacturing capacity, an area the government is building up. Last year, the government picked a site in central England to house a new automotive battery development facility, which will develop the processes required to manufacture the latest battery advancements. On Thursday, YASA, based near the English city of Oxford, said it had raised another 15 million pounds ($21 million) as part of its expansion. "Our customers are looking to adopt innovative new technologies such as YASA's axial-flux electric motors and controllers in order to meet the needs of the rapidly expanding hybrid and pure electric automotive market," said Chief Executive Chris Harris. The firm exports 80 percent of production and has worked with companies including Britain's two biggest carmakers Jaguar Land Rover and Nissan as well as Aston Martin. JLR will decide this year whether to build electric cars in its home market, previously citing factors such as pilot testing and support from science and government as pre-requisites. Reporting by Costas PitasRelated Video:

Aston Martin recalling all DB11s over Daimler steering column

Aston Martin has become the latest carmaker to be caught up in a major recall of faulty Daimler steering-column components that can cause unintended airbag deployments. The British sports car maker is recalling all 3,873 DB11 coupes built since late 2015, when production of the flagship model began, Aston Martin spokesman Kevin Watters confirmed. He said repairs would be carried out to "address an issue with the DB11 steering column upper." Daimler last year recalled more than 1 million Mercedes-Benz cars fitted with steering-column parts also supplied to Aston and Nissan. The Japanese carmaker's Infiniti brand recalled 17,500 affected vehicles. The issue is unrelated to a global recall of faulty Takata airbag inflators that have been blamed for 20 deaths. Inadequate grounding in the Daimler units leaves their circuitry vulnerable to electrostatic charges that can trigger unintended airbag deployments, according to earlier warnings. Mercedes reported "a handful of instances where drivers suffered minor abrasions or bruises" as a result of the problem. No Aston Martin customers have reported any such incidents to date, the company said, adding the necessary repair work would be carried out free of charge in less than two hours. Reporting by Laurence FrostRelated Video:

Aston Martin electric supercar might be in the works

Aston Martin could develop a lightweight battery-electric sports car in line with the Tesla Roadster as part of the British brand's shift towards hybrids and electric vehicles. CEO Andy Palmer told Auto Express the company is considering a pure-electric car that's smaller than the Vantage but faster and more expensive, taking aim squarely at the Roadster. "There are various challenges involved in making an EV, and the one everyone focuses on is the battery — the management system and the chemistry involved," Palmer said. He added: "The interesting thing is that the other three components of any electric car — weight, aerodynamic drag and rolling resistance — are areas sports car manufacturers, and us in particular, are really good at mastering. That puts us at an advantage over other brands who are making some big claims — such as Tesla, with a lightweight roadster. I think we could be in that space relatively easily." Aston Martin is building only 155 examples of its new RapidE, its first electric car due for launch in 2019, which will cost $255,000. It's also developing an electric version of its DBX crossover for 2019. More broadly, Palmer has said the brand plans to convert its entire six-car lineup to hybrid powertrains by the middle of the next decade, with 25 percent of its vehicles fully electric by the end of the 2020s. It recently unveiled an all-new Vantage, which it expects to price somewhere south of $150,000. Palmer also told Auto Express that Aston's coming hybrids will use 48V technology — but they won't be plug-in hybrids, which he says add complexity and costs. They could also pave the way for a six-cylinder Aston. "I have no objection to the principle of engines that are smaller and in a V configuration, in fact, but inline four-cylinder or three-cylinder units? No," he said. "I don't think we'll see an Aston Martin with a combustion engine that has any fewer than six cylinders."Related Video: Image Credit: Corbis via Getty Images Green Aston Martin Coupe Electric Hybrid Performance Supercars PHEV aston martin vantage aston martin dbx

Favorite vehicles of 2017

The Autoblog staff has driven a lot of vehicles in 2017. This video showcases our favorite vehicles from this year, along with some thoughts on why they made the list. Wanna read more head over to https://www.autoblog.com/photos/best-drivers-cars-2017/ Aston Martin Audi Ford Jeep Lexus Porsche Autoblog Minute Videos Original Video porsche macan lexus lc 500 macan wrangler r8 Arts and Entertainment

Aston Martin owners rev up for possible sale or stock IPO

LONDON — Aston Martin's owners have hired financial advisory firm Lazard to prepare for a stock market listing or sale of the British sports car maker made famous by fictional spy James Bond, sources familiar with the matter told Reuters. Italian private equity fund Investindustrial and a group of Kuwaiti investors, who together own more than 90 percent of the marque, are hoping to cash in on a recovery in sales and are in the initial stages of a strategic review. They have hired investment bank Lazard to work on a preliminary plan and could either opt for an initial public offering (IPO) in the third or fourth quarter of 2018 or a trade sale, two of the sources said on Friday. A deal could value the maker of the sports car driven by Britain's Prince William on his wedding day at between 2 billion and 3 billion pounds ($4 billion), one of the sources said, adding a listing was the most likely option. However, no final decision had been taken and the investors could decide to retain control, the sources added. Investindustrial declined to comment while Aston Martin and Lazard did not return requests for comment. Adeem Investment, one of the Kuwaiti investors, was not immediately available. If successful, a float of Aston Martin would be a milestone deal for the 104-year-old car manufacturer and would follow the IPO of Italian sportscar maker Ferrari which made its Wall Street debut in 2015 amid strong investor demand. Investindustrial, led by founder Andrea Bonomi, bought 37.5 percent of Aston Martin in 2012 in what was the fund's best-known investment in Britain. The fund, which has clinched a number of Southern European investments since its launch in 1990, is Aston Martin's single biggest investor and is driving the plans, the sources said. Beside Lazard, other investment banks have approached the private equity fund in recent weeks offering advice ahead of a possible IPO, another source said. Yet no other mandates will be awarded this year for the Gaydon-based firm, which is in the midst of a turnaround plan that aims to restore the business to profitability following six years of losses. Aston Martin, which recently unveiled its new Vantage model, 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.

Robert Plant’s 1965 Aston Martin DB5 is for sale

It was made famous by James Bond in the 1964 film "Goldfinger," and this particular version was given its lived-in quality by the frontman of one of rock-and-roll's biggest bands. Now you, too, can own the Aston Martin DB5 likely driven to Bron-Yr-Aur and across the land of the ice and snow by none other than Robert Plant. The website Classic Driver is offering the 1965 DB5 coupe owned by Plant, who is most famous as the former lead singer of hard rock titans Led Zeppelin, from the early 1970s until 1986, when he sold it to father and son collectors based in England. Painted in Dubonnet Rose, the four-seater GT has 62,400 miles on it, a tan leather interior and what must be many, many untold stories of rock-and-roll excess. The DB5, which updated the DB4, had an all-aluminum 4.0-liter, DOHC straight-six engine that made 285 horsepower and 280 pound-feet of torque mated to a full synchromesh ZF five-speed gearbox. It also featured three SU carburetors, twin hydraulic brake servos, Girling disc brakes and the early use of electric windows. It became famous as James Bond's third but most recognizable card, with a prototype version full of gadgets used by Sean Connery in "Goldfinger," and the car re-appearing in several subsequent Bond movies and with different actors. This particular DB5 was restored by Aston Martin agents Chapman Spooner shortly after Plant sold it in 1986, and the car was entered into a number of Aston Martin Owners Club events during the '80s. The current owner bought it in 2008 from Nicholas Mee & Co., used it very sparingly and kept the car in a controlled environment. Given the lore that surrounded Led Zeppelin in its heady '70s rock-juggernaut days, it's remarkable that the car survived intact as well as it apparently has. The DB5 was apparently a popular one among British rock royalty of the era, as Bonhams Bond Street just sold a '64 version previously owned by Paul McCartney for $1.8 million.Related Video: Featured Gallery Robert Plant's 1965 Aston Martin DB5 View 15 Photos Image Credit: Nicholas Mee & Co Ltd Aston Martin Automotive History Coupe Luxury Classics famous cars aston martin db5