Auto blog
Tue, May 26 2020
Our roads may be virtually empty, with Americans all cooped up and nowhere to go. But with jet planes and TSA lines looking iffy and icky for the foreseeable future, the great American road trip is poised to reclaim its preeminence in travel. To test that post-pandemic theory, in a purely theoretical way, I requisition a 2020 Aston Martin Vantage for a daytrip from New York to the Catskills. It’s the kind of high-character “import” sports car that once defined the breed, before corporate imperatives watered the character down. AstonÂ’s two-seater is nakedly beautiful, flawed-yet-fabulous, and expensive as hell. But if you drive the Vantage and donÂ’t fall head-over-loafers, IÂ’d accuse you of not caring for sports cars at all. ItÂ’s as alive and engaging as any sports car out there, a 509-horsepower firecracker that rewards skilled drivers – or dings them for mistakes – in defiance of the trend toward all-wheel-drive automatons. As for the Catskills, itÂ’s in the midst of its own explosive comeback. This rough-hewn mountain region, a convenient two hours north of Manhattan, was once the prime vacation destination of the Northeast, so popular in the late 19th century that a 1,200-room luxury hotel was required just to gaze at some waterfalls, with guests including U.S. presidents and Oscar Wilde. Through the 1950s and 60s, it continued to be the pipeline to nature for Jewish families and other northeast tourists. Their summer camps and sprawling “Borscht Belt” resorts and nightclubs mythologized in films like Dirty Dancing and now televisionÂ’s The Marvelous Mrs. Maisel, which has fetishized Catskills nostalgia to a truly marvelous degree. Then came airline travel, and affordable tickets to Miami Beach and other exotic warm-weather locales. Like a Palm Springs of the east, the Catskills fell into steep decline. The region became a punch line of corny kitsch. As with Palm Springs, fashion has come full circle: The Catskills and adjacent Hudson Valley are red-hot again, rediscovered by Brooklynites especially as a magical spot for affordable second homes, or permanent moves to open farm-to-table restaurants, curated antique shops and other bastions of rustic hip. The Vantage lures me from coronavirus lockdown like a movie idol waving outside my Brooklyn window, for a cannon-shot recon run to Woodstock.
Tue, Sep 3 2019
In June, Ian Callum retired from his post as Jaguar's design boss. In July, the man with an elegant and luxurious public resume extending more than two decades started Ian Callum Design with a few former colleagues. Callum said the full-service design and engineering house would create and comprehensively upgrade vehicles, and that he'd "like to take some of the cars I've designed and maybe redo them a little bit." That initiative starts with the Aston Martin Vanquish 25, a thorough rework of the original Vanquish Callum built from 2001 to 2007, when Ford counted the English brand in its stable. With the goal being to "make the Vanquish the Grand Tourer for the 2020s," the broad strokes remain — as it should be, seeing how much they still appeal. More than 100 overall detail changes begin with the redesigned front fascia, with a sharper-edged upper grille sitting above a larger lower intake. Projector headlamps give way to four high-intensity LEDs, and the lower fog lamps are replaced by carbon fiber vents to channel airflow to the front brakes. An "intimidating" mien starts with dark grille strakes supplanting the chrome bars of yore, the dark mood continuing with the one-piece carbon fiber window surround and carbon fiber hood vents and fender vent strakes. Gone are the scalloped sills, replaced by convex carbon fiber rockers that blend into the new curve of the lower rear fenders. In back, new taillights rest atop a new bumper that wraps around a large diffuser with integrated exhaust pipes. The cost-cutting Jaguar XK side mirrors — Ford owned Jaguar at the time, too — are gone, newly designed units with built-in turn signals taking their places. When we drove a 2005 Vanquish in 2015, we wrote that while the greater part of the coupe held up to time, the interior did the opposite. Callum has fixed that, turning the original coupe's blocky, vertical center console into a sloping waterfall unit in carbon fiber. At the top of the center console, a removable Bremont pocket watch. Below that, no more Jaguar switchgear, but an eight-inch media display touchscreen with Apple CarPlay and Android Auto, carbon fiber buttons and aluminum dials. A thinner steering wheel and reshaped paddle shifters sit ahead of a dash cluster designed by watchmaker Bremont. New front seats with deeper sculpting sit lower in the cabin, clothed in the same cross-stitched Bridge of Weir leather as the rest of the cockpit.
Sat, Sep 28 2019
Ratings agencies Standard & Poor's and Moody's have taken a dim view of Aston Martin Lagonda. S&P cut its credit rating on the storied carmaker deeper into junk territory this week, and Moody's revised its credit outlook to "negative" after the company raised $150 million in debt from a bond issue at 12% interest, with the option to raise another $100 million at 15%. The Standard & Poor's rating was trimmed by one notch to 'CCC+', which reflects substantial risks and takes it close to default territory after a faster-than-expected cash burn this year. The outlook is negative. The negative outlook reflects ongoing pressure on profits, a high cash burn, and very high leverage in the face of heightened risks linked to a potential no-deal Brexit and new tariffs on car imports threatened by the United States. The potential salvation for the company is its new DBX luxury SUV, the success of which is critical to its ambitious growth strategy and ongoing creditworthiness, S&P said. But Moody's noted that it's burning cash at a high rate as it nears the launch of the DBX. The British carmaker, known as James Bond's favorite marque, has been hit by falling demand in Europe, the Middle East and Africa. It slumped to a first-half loss in July. Chief Executive Andy Palmer said concerns around Brexit and U.S.-China trade relations were skewing the outlook to the downside, so it was prudent to address investor concerns about its balance sheet. "Taking this debt on — short-term debt — is we think the correct tool to completely remove that thesis that we don't have sufficient liquidity," he told Reuters. "In every substantial and material way, this ensures that we can get through to DBX in spite of what all of those global uncertainties might throw at us." The main tranche comprises notes with an interest rate of 12% due in 2022, while the additional notes could be issued under the same terms if permitted, or could be issued as unsecured notes with an interest rate of 15%, Aston Martin said. Shares of stock in the company, which have had a precipitous fall since they listed in London in October 2018 at 19 pounds, were trading down 5% at 545 pence in early deals. Broker AJ Bell said Aston Martin was known for its high end prices and that situation now also applied to its debt. "These rates are very high and are a major red flag that investors consider the car company to be a high risk entity," it said.