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Aston Martin DBX leads a 224% increase in sales for the British brand

LONDON — Carmaker Aston Martin reported on Wednesday a 224% increase in sales to its dealers, boosted by its first sport utility vehicle, the DBX, as losses fell in the first half of the year. The DBX 4x4, which first rolled off the production line just over a year ago, accounted for more than half of its 2,901 vehicles between January and June. "Building on the success of DBX, our first SUV, we have since delivered two more new vehicles and with more exciting product launches to come we are well positioned for growth," said Executive Chairman Lawrence Stroll. Fictional agent James Bond's car brand of choice has had a tough time since floating in 2018, as it failed to meet expectations and burnt through cash, prompting it to bring in fresh investment from billionaire Stroll last year. The DBX entered production in July 2020 and has helped the company widen its appeal in a lucrative segment of the market which has proven profitable for its rivals. Its pretax loss fell from 227 million pounds in the first half of 2020 to 91 million pounds ($126 million), with the company saying trading was in line with expectations as it aims for 2021 volumes of around 6,000 vehicles. Related video:

Aston Martin makes RapidE electric car a limited edition after LeEco pulls out

Aston Martin was forced to scale back production plans for its first electric model after cash-strapped investment partner LeEco pulled out of the project, Chief Executive Andy Palmer told Reuters on Monday. The result, though, may be an even more exclusive car, aimed at customers who consider Tesla's top of the range $130,000 Model S to be a little too run of the mill. Aston Martin will build only 155 of its RapidE, about a third of the initial plan, and lean more heavily on Formula One engineering specialist Williams after the withdrawal of Chinese TV and smartphone vendor LeEco, Palmer said. The setback and Aston's response underscore the challenges and risks niche carmakers face as they scramble to address future demand for electrification from consumers and regulators. While the privately held Aston Martin brand benefits from the endorsement of fictitious spy James Bond, it lacks the backing of a large automotive parent that many rivals enjoy. "We've decided to make this car rare, which will obviously tend to push the price higher," Palmer said. "Aston Martin now plans to proceed independently, funding further development of RapidE by ourselves." Palmer agreed to be interviewed after sources told Reuters Aston Martin's partnership with LeEco had unraveled. Unveiling the alliance in February last year, LeEco and Aston pledged to launch an all-electric version of the Rapide S sedan in 2018. But the Chinese conglomerate has since slashed its electric car investments, including its U.S. startup Faraday Future's planned $1.3 billion factory in Nevada. Some Faraday suppliers, including seat maker Futuris and media provider Mill Group, have sued the company for non-payment, according to court records. Spokesmen for LeEco and Faraday did not respond to requests for comment on the end of the Aston partnership. Aston Martin declined to discuss its partner's business. $250,000 PRICE TAG Aston returned to profit in the first quarter, a decade after it was sold by Ford. Now owned by private equity groups Investindustrial and Kuwait's Investment Dar, the company is rolling out a new model each year under a taut recovery plan drawn up by Palmer, who joined from Nissan in 2014. Without LeEco's backing, the sports carmaker, based in Gaydon, Warwickshire, is pushing ahead as sole investor in the electric car, after paring down production and pushing back the launch date to 2019. The plan won board approval on June 21.

1965 Aston Martin DB5 Shooting Brake: Rare, stylish, practical, and up for auction

Have you ever looked at a 1965 Aston Martin DB5 and thought, "I would totally buy one, but it's just not practical enough." If so, we're a little surprised, but at least you're not alone. According to RM Sotheby's, David Brown, the man who ran Aston Martin for several decades and started the line of DB models that continues today, felt similarly. Apparently he couldn't fit his polo gear into a regular Aston coupe, and he wanted somewhere for his dog to sit that would keep it from tearing up the seats. As such, the Aston Martin DB5 shooting brake was created for him and a few wealthy customers by coachbuilder Harold Radford. The grand total was 12. One of those 12 cars is going up for auction by RM Sotheby's. It's one of four built with left-hand drive and was sold to a Swiss buyer who optioned it with a power antenna, seat belts, passenger-side head rest, air horns and initials on the doors. The car has had two other owners and has gone through a couple restorations. The second owner picked it up in 2003 and had it restored by Aston Engineering, which bumped the displacement from 4.0 liters to 4.2 and replaced the factory automatic with a 5-speed manual. The second owner acquired it in 2009 and upped the displacement even further to 4.7 liters along with upgraded shocks and springs. The car will be auctioned at RM Sotheby's Monterey event during the week of the Pebble Beach Concours d'Elegance. The company expects it to sell for between $1,000,000 and $1,400,000. Considering the rarity of the car, that doesn't seem terrible, but according to the Hagerty price guide, it's rather high. It values the DB5 Shooting Brake at $790,000 for a concours-quality car. For reference, Hagerty values a concours-quality DB5 coupe at $1,450,000.