Your chance to own Aston Martin -- or at least a small part of it -- might finally be here. The Italian private equity fund Investindustrial and a group of Kuwaiti investors who together own more than 90 percent of the British sports car maker have hired an investment bank for a possible initial public offering (IPO) or an outright sale of the 104-year-old company, Reuters reports.Valued between $2.6 billion and $4 billion dollars, Aston Martin is currently in an early stage of recovery in sales after more than six years of failing to turn a profit, which was attributed to an aging lineup and an economic downturn in the first half of the 2010s. Even though this paints a dire picture of the automaker, sales actually rose by 75 percent in the first quarter of 2017, spearheaded by the new DB11 coupe that was developed in a technical partnership with Mercedes-Benz parent company Daimler."Aston Martin notes today’s media coverage concerning a potential stock market listing of the … [Read more...] about Is Aston Martin going up for sale?
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Outspoken Aston Martin CEO Andy Palmer never shies away from providing blunt answers, and that was certainly the case when he sat down with AUTOMOBILE during the 2015 New York International Auto Show. Automobile: You’ve been on the job at Aston Martin for six months, after you moved from Nissan/Infiniti, so it’s full steam ahead now? The Geneva auto show in early March was big for Aston … Andy Palmer: Yes, it was always going to be; it was from the very beginning. That was the line in the sand that said, whatever we’re going to do, whatever the plan, you’ve got to put a finite time on your plan because then you’ve got to execute. So the finite time on the plan was an approximate 100 working days [which was basically Geneva]. It was basically, make sure we’ve got shareholder approval, financing in place, etc., and be able to announce it in Geneva. It was short to be able to put a six-year cycle plan together, to work out what you’re going … [Read more...] about Aston Martin CEO Andy Palmer on the DBX Concept, Rapide EV, and More
► Aston Martin's future product plans► Investment of £700 million recieved ► New V8 Vantage on the way in 2017Backed by a confirmed and allegedly fully hedged £700 million investment programme, CAR magazine can reveal that Aston Martin is working on the following future product portfolio:2017 DB11 Volante, new V8 Vantage2018 V8 Vantage roadster, Vanquish replacement to be badged DBS, Rapide E with LeEco, 1000bhp-plus hypercar designed by Adrian Newey and sponsored by Red Bull, 2019 new DBX crossover2020 DBS Volante, Rapide replacementAll models bar the hypercar are based on the still-nameless new aluminium components set which replaces the VH architecture conceived under Ford ownership. Aston Martin also recently revealed the DB11, which goes on sale at the end of the year and completes the ten-strong line-up of new models.The next V8 Vantage will be lighter, sportier and better handling than the current car (below), according to … [Read more...] about Aston Martin stays in the fast lane: revised business plan lists 10 new models by 2021
Aston Martin and Ferrari may occupy similar territory in the current market for new cars, or at least overlap, but when it comes to their respective classics, they're in different leagues. While some classic Ferraris can sell at auction for eight figures, the highest prices ever paid for classic Astons work out to seven. That makes this latest result something of a world record.At its recent auction, held at the Grand Palais in Paris during the Retromobile classic car show this past weekend, venerated auction house Bonhams sold a 1965 Aston Martin DB5 Convertible (one of just 35 left-hand-drive models made) for the equivalent of $2.14 million. That makes it the highest price ever paid for a production DB5 - coupe or convertible - in the history of automobile auctions, driving the most successful automobile auction Bonhams has ever held in Europe.It was not, strictly speaking, the most ever paid for any Aston, however. That honor, according to Sports Car Market, goes to the 1955 DB3S … [Read more...] about 1965 Aston Martin DB5 Convertible fetches record $2 million in Paris
Aston Martin is wasting no time in its aggressive product rollout, and it's putting Ferrari and other supercar makers on notice.At the recent launch of the DB11 V8 in Catalonia, Spain, we caught up with Aston Martin CEO Andy Palmer. The Aston chief gave us new details on plans for a mid-engine car to go up against the Ferrari 488 GTB, the McLaren 720S and the Lamborghini Huracán.Palmer says Aston has harnessed a great deal of learning from the $3 million Valkyrie hypercar and plans to apply that to its next mid-engine car, slated to land sometime in 2020 or so. As indicated in part of our conversation below, design plans for that car are developing quickly.Autoblog: You said there will be a forthcoming mid-engine sports car. I still think the Ferrari 488 GTB is one of the best I've driven. How do you compete with that?Andy Palmer: "Well, I agree with you. That's the best car in its segment. And we're going to take it on. And I realize the gravity of that statement, of what that … [Read more...] about Aston Martin hires Ferrari’s ‘key guys’ to challenge 488 GTB
We’ve previously told you about Aston Martin’s aspiration to create a mid-engined supercar that will be a direct rival to Ferrari, McLaren, and Lamborghini. Now we can confirm that the project is indeed happening and that it will benefit from the closer “innovation partnership” that Aston has announced with the Red Bull Racing Formula 1 team.Aston Martin CEO Andy Palmer said the company’s recent return to profitability has allowed him to confirm all parts of the brand’s ambitious product plan, one that will see the launch of seven new model ranges by 2023. The first of these was the DB11, which made its debut last year; it will be followed by replacements for the existing Vantage and Vanquish, then a production version of the DBX crossover. Beyond that, there will be two different Lagonda models and, most intriguing, a mid-engined supercar aimed squarely at rivals such as the Ferrari 488GTB and the McLaren 720S.While admitting this is a new endeavor … [Read more...] about Aston Martin’s Mid-Engined Ferrari/McLaren Rival Is a Go
Rumors that Aston Martin is destined for an initial public offering, either eventually or imminently, have persisted ever since former parent Ford offloaded the British luxury marque in 2007.The brand has come a long way since Ford dropped it off at the orphanage by expanding into new segments, spawning a sub-brand, and entering the non-automotive realms of merchandise and luxury speedboats. As its trajectory increasingly mirrors that of recently spun-off Ferrari, sources claim an IPO is right around the corner.According to Bloomberg, people familiar with the company’s plans say Aston could issue an IPO as early as next year. The company wants to lure investors, but it must wait to see how its finances fare for the entirety of 2017, they claim.After sinking further into the red last year, the company hopes its diversification and a slew of new models will push it into profitability. The company will produce its DBX crossover at a new factory in Wales … [Read more...] about Is Aston Martin Finally Ready for Public Trading?
The Aston Martin Cygnet was just the beginning.For those who thought the luxury automaker’s now-defunct rebadged Toyota city car was a weird idea (and that includes just about everyone), just wait. Aston Martin is now eager to sell you anything — your clothes, your baby stroller, and even your house.The automaker just opened a retail store in one of London’s ritziest neighborhoods, tempting shoppers with every article you’d need to live the Aston Martin lifestyle. Well, not everything, but CEO Andy Palmer wants to see to that.According to Bloomberg, the company’s Mayfair shopping district outlet sells a range of consumer goods, including fine china, a baby stroller, or weekend bags. (The stroller retails for $3,980, which could land someone a really decent used Cygnet.) The automaker, which is still independent and thus financially vulnerable, wants to expand its brand beyond luxury sport coupes.Way beyond.“Wouldn’t it be great … [Read more...] about Aston Martin Will Sell You a House … and a Boat
Cue the yacht rock.Aston Martin’s latest offering isn’t a curvaceous, high-performance car. Nor is it an SUV. It’s a boat, and a nice one at that — but it’s also a gamble. The British automaker wants to squeeze money out of previously untapped markets, starting with the boaty set.After this, the sky’s the limit.Unveiled at the Monaco Yacht Show, which sounds glitzy beyond our wildest dreams, the Aston Martin AM37 is the luxury speedboat Daniel Craig would pilot. Because this isn’t TTAB, the particulars of this watercraft are not very important.Suffice it to say, the 37-foot powerboat seats eight, does zero to 50 knots eventually, has a carbon fiber dashboard, contains every creature comfort ever envisioned by man, and can sleep a number of attractive people. Somewhere inside, there’s a coffee machine and toilet. (Also: don’t expect an Aston powerplant — this thing packs twin 520 horsepower Mercury engines in top-end … [Read more...] about Aston Martin AM37: Congratulations, It’s a Boat!
The latest rumor to involve Formula 1 also involves a former Nissan executive and one of Britain’s most recognized marques.A report from Autocar sees former world champion team Red Bull ditching their troublesome Renault power units and switching to Mercedes motivation with an Aston Martin logo painted on the air box of the single seater.And there might be some truth to it.It’s no secret that multiple world champion team Red Bull Racing is less than pleased with its Renault power units as it struggles at the middle of the pack. It’s also no secret that Mercedes would like to bolster the number of teams to which it supplies engines in an effort to amortize the cost of development. A deal between Red Bull Racing and Mercedes F1 may be in the works that suits the needs of both parties and it could come by way of Aston Martin and its CEO Andy Palmer.With Mercedes holding 5-percent ownership in the British luxury marque and more cooperation planned … [Read more...] about RUMOR: Aston Martin Tipped For Deal With Mercedes-Powered Red Bull Racing