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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.

Last original Aston Martin DBS found in barn headed to auction

There's still big money in auctioning off barn finds. For example, the relatively tattered 1961 Ferrari 250 GT SWB California Spider from the Baillon Collection is now the highest priced 250 GT ever after its recent sale for $18.5 million. UK auction house Coys is hoping to hit a similar goldmine with its upcoming offer of the final, original Aston Martin DBS ever made. This dinged and rusty 1972 DBS in a shade called Dubonnet Rosso rolled off the assembly line as the last of its type in September 1972. These models were meant for the Aston driver looking for a slightly larger GT car, and they sported a 4.0-liter inline-six. This one also has an automatic transmission and 40,000 miles indicated on the odometer. Unfortunately, it has been sitting in a barn in Surrey, England, since 1980. As is plainly obvious, this Aston Martin is far from perfect with busted windows and missing trim pieces. Stuffing straw in the open portions of it is probably taking the ratty look a bit too far, though. Still, the auction house estimates the final DBS to sell for between 25,000 and 40,000 pounds ($38,000-$61,500) when it crosses the block at the Royal Horticultural Society on March 10. A practically perfect 1970 example once driven by Roger Moore fetched the equivalent of $900,000 in 2014. THE ULTIMATE BARN FIND 02/03/15 from COYS The last original Aston Martin DBS to come off the production line has been found in a barn in Surrey and will be auctioned by international auctioneers COYS in London on March 10th. The car was discovered by Chris Routledge, the Managing Partner of the auction house, and is one of the features of COYS 'Spring Classics' auction at the Royal Horticultural Society. Aston Martin Mayfair is hosting the barn find car for a week before the event takes place. Chris Routledge said: "This is the ultimate barn find and an important part of Aston Martin's history. It has been sitting in a barn since 1980 and now needs to be brought back to its former glory." He added: "The windows are broken, the interior trim is missing and its rusty, but it's all there and there has been huge interest from collectors around the world.

Weekly Recap: New bosses try to jump-start Cadillac and Lincoln

Both of America's domestic luxury brands seem to be stuck in neutral.
It's ironic that Cadillac and Lincoln got new bosses within days of each other this month. It's also a commentary on the fact both of America's domestic luxury brands seem to be stuck in neutral.