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Discussion Starter · #1 ·
13 December 2019
Aston Martin Lagonda Global Holdings plc

Aston Martin Lagonda (the "Company") notes recent press speculation.

The Company confirms that it is reviewing its funding requirements and various funding options. It is also engaged in early stage discussions with potential strategic investors in relation to building longer term relationships which may or may not involve an equity investment.

A further announcement will be made as and when appropriate.

 

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When your shares drop 75% in the first year after flotation and then, with no unforeseeable material change in the business environment, you say you are "reviewing your funding requirements", it suggests that senior management is either dishonest or incompetent.
Two months ago a car dealer friend told me that he "understood" (in other words, this was not presented as fact but he had his own reason to believe) that Aston have X thousands of finished DB11s sitting in storage and waiting to be purchased. Putting it in context, it is true that sometimes car companies will use subsidiaries or affiliates to enable them to report "sales" for accounting purposes.
The number this friend stated was unbelievably high. When I thought about it, however, I realised that, although I live in the UK which is historically AM's biggest market and in London which has a disproportionate # of expensive cars, I drive a lot, and I tend to notice certain special cars, I see a DB11 about once every two/three months.
If the DBX is not a sales hit, these guys are hosed.
 

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Discussion Starter · #5 ·
Aston Martin Confirms What Many Suspected For Weeks
8 HOURS AGO BY JAY TRAUGOTT INDUSTRY NEWS / 3 COMMENTS
And why this can be very good news.
Earlier this month, it was reported that Canadian billionaire investor Lawrence Stroll, owner of the Racing Point Formula 1 team, was leading a consortium with the goal of buying a major stake in Aston Martin. The 106-year-old automaker posted a pre-tax loss of $118 million in the first nine months of this year, partly due to unexpectedly weakened demand in Europe. The all-new DBX SUV, slated to get underway shortly at a newly opened factory in South Whales, is predicted to be a solid seller that will help Aston Martin financially recover.
In the meantime, Reuters has an updated report claiming the automaker has now admitted it is in "early stage talks with potential investors about building 'longer term relationships' as part of a funding review." Only last week, Aston Martin CEO Andy Palmer stated the firm was "not actively soliciting any other participation" when asked to comment on previous reports.

2017-2019 Aston Martin DB11 Coupe Front View Driving
Aston Martin
Front View Driving
Aston Martin
2018-2020 Aston Martin Vantage Rear Angle View
Aston Marti




Today, however, it appears this is indeed happening. Not only has Aston Martin reportedly held talks with Stroll, but also with other automakers and potential investors from the Middle East, China, and India. Aston Martin's shares are currently owned by former company chairman David Richards, Daimler AG, an Italian private-equity group, and several Kuwait-based investment groups. The remaining shares are publicly held.
Right now, the automaker's market capitalization is worth only around $1.63 billion, thus making it a prime target for other investors. Previously, Aston Martin said it was not interested in partnerships, alliances, or mergers, but it may soon have little choice due to the challenges of vehicle electrification, new technology, and tighter profit margins
 

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Contrary to the article, current market cap of the equity is £1.27b. I believe that AML has about £800m of debt, so the total capitalisation would be more like £2.1b.

When the rumour of Stroll's potential interest first became news a couple of weeks ago, and in the context of Palmer's assertion that they were "not actively soliciting" funding (which now appears to be at least misleading if not an outright lie), the presumption was that Stroll might tender for part or all of the company or, alternatively, build a stake in the marketplace.
If, instead, the company were now to sell new shares to Stroll (or anyone else) at current levels, I don't see how they could do it without making a similar offer to existing investors, to some of whom the insiders sold shares at 3.5x the current price barely a year ago.

As we have been saying, the DBX might save them, but this company is still the joke that it has been for decades. They make pretty cars - which is always a good thing - but beyond that there is little of substance.
 

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Discussion Starter · #7 ·
THE IRISH TIMES
Aston Martin chief to leave as part of shake-up
Luxury carmaker is expected to name Tobias Moers, who runs the AMG performance arm of Mercedes-Benz, as its new chief executive
An Aston Martin logo as seen on a car at a dealership in central London in 2018. Photograph: REUTERS/Henry Nicholls
An Aston Martin logo as seen on a car at a dealership in central London in 2018. Photograph: REUTERS/Henry Nicholls
Peter Campbell

Aston Martin’s chief executive Andy Palmer is leaving the business as part of a shake-up aimed at restoring the fortunes of the flagging carmaker, according to two people with knowledge of the move.
The luxury carmaker will name Tobias Moers, who runs the AMG performance arm of Mercedes-Benz, as his replacement in an announcement scheduled for Tuesday.
When contacted by the Financial Times on Sunday Mr Palmer said he had not been informed of the coming announcement and declined to comment further. Aston Martin declined to comment.
Mr Palmer, who joined Aston as its chief executive in 2014 from Nissan, oversaw a revival at the company that was close to bankruptcy.
But the group’s performance in the two years since its initial public offering in 2018 has been dismal. Shares have fallen by more than 90 per cent as the company was hit by oversupply to its dealerships, poor demand for its Vantage model, and a global slowdown among luxury buyers.
With costs rising as it embarked on opening a new factory in Wales to produce its DBX sport utility vehicle, Aston was forced to take out a series of expensive debt packages to keep the business afloat, weighing on the company finances.
The group booked a £120 million (€134 million) loss in the first three months of this year, in part because of coronavirus closing factories and dealerships. Revenues fell by 60 per cent to £78.6 million as car sales halved.
In January, Lawrence Stroll, a Canadian billionaire with a background in motor racing and luxury fashion labels, led a £540 million rescue deal to refinance Aston that saw him become executive chairman of the group.
Aston’s former chief financial officer Mark Wilsonand its chairman Penny Hughes left in April. A further winnowing of the executive team is expected as Mr Stroll stamps his authority on the business.

Mr Stroll’s strategy for Aston includes delaying previous plans for electric cars and focusing on motor racing and the development of mid-engine supercars to rival Ferrari. His current Formula 1 team, Racing Point, will rebrand as Aston Martin Works for future seasons.
Bringing in Mr Moers as the company’s chief executive will also solidify Aston’s relationship with Mercedes, which already provides V8 engines and other technology for its cars and holds a small stake in the British business.
Running AMG, the highly-profitable performance car unit of the German carmaker, has often been seen as a stepping stone to higher office within Mercedes’ parent group Daimler.
Ola Kallenius, Daimler’s chief executive, ran AMG between 2010 and 2013.
During his tenure Mr Palmer tried to diversify Aston’s line-up to widen its customer base, including launching its DBX sport utility vehicle due to come out this summer.
However in the eyes of critics the business also became distracted, stretching itself too far, such as by trying to use Aston Martin’s world-renowned brand on a range of eclectic projects from a speedboat to a Miami condominium block
 

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THE IRISH TIMES
Aston Martin chief to leave as part of shake-up
Luxury carmaker is expected to name Tobias Moers, who runs the AMG performance arm of Mercedes-Benz, as its new chief executive
An Aston Martin logo as seen on a car at a dealership in central London in 2018. Photograph: REUTERS/Henry Nicholls
An Aston Martin logo as seen on a car at a dealership in central London in 2018. Photograph: REUTERS/Henry Nicholls
Peter Campbell

Aston Martin’s chief executive Andy Palmer is leaving the business as part of a shake-up aimed at restoring the fortunes of the flagging carmaker, according to two people with knowledge of the move.
The luxury carmaker will name Tobias Moers, who runs the AMG performance arm of Mercedes-Benz, as his replacement in an announcement scheduled for Tuesday.
When contacted by the Financial Times on Sunday Mr Palmer said he had not been informed of the coming announcement and declined to comment further. Aston Martin declined to comment.
Mr Palmer, who joined Aston as its chief executive in 2014 from Nissan, oversaw a revival at the company that was close to bankruptcy.
But the group’s performance in the two years since its initial public offering in 2018 has been dismal. Shares have fallen by more than 90 per cent as the company was hit by oversupply to its dealerships, poor demand for its Vantage model, and a global slowdown among luxury buyers.
With costs rising as it embarked on opening a new factory in Wales to produce its DBX sport utility vehicle, Aston was forced to take out a series of expensive debt packages to keep the business afloat, weighing on the company finances.
The group booked a £120 million (€134 million) loss in the first three months of this year, in part because of coronavirus closing factories and dealerships. Revenues fell by 60 per cent to £78.6 million as car sales halved.
In January, Lawrence Stroll, a Canadian billionaire with a background in motor racing and luxury fashion labels, led a £540 million rescue deal to refinance Aston that saw him become executive chairman of the group.
Aston’s former chief financial officer Mark Wilsonand its chairman Penny Hughes left in April. A further winnowing of the executive team is expected as Mr Stroll stamps his authority on the business.

Mr Stroll’s strategy for Aston includes delaying previous plans for electric cars and focusing on motor racing and the development of mid-engine supercars to rival Ferrari. His current Formula 1 team, Racing Point, will rebrand as Aston Martin Works for future seasons.
Bringing in Mr Moers as the company’s chief executive will also solidify Aston’s relationship with Mercedes, which already provides V8 engines and other technology for its cars and holds a small stake in the British business.
Running AMG, the highly-profitable performance car unit of the German carmaker, has often been seen as a stepping stone to higher office within Mercedes’ parent group Daimler.
Ola Kallenius, Daimler’s chief executive, ran AMG between 2010 and 2013.
During his tenure Mr Palmer tried to diversify Aston’s line-up to widen its customer base, including launching its DBX sport utility vehicle due to come out this summer.
However in the eyes of critics the business also became distracted, stretching itself too far, such as by trying to use Aston Martin’s world-renowned brand on a range of eclectic projects from a speedboat to a Miami condominium block
As someone who is a fan of AMG, was hoping that Aston would go bankrupt for an eighth time, and thinks that Racing Point deserve to race pointless for the foreseeable future, this is lose/lose/lose. If it makes it more likely that Merc would ally with Aston at the expense of McLaren, it's even worse.
Let's hope Moers is doing it only for the money.
 

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Discussion Starter · #9 ·
As someone who is a fan of AMG, was hoping that Aston would go bankrupt for an eighth time, and thinks that Racing Point deserve to race pointless for the foreseeable future, this is lose/lose/lose. If it makes it more likely that Merc would ally with Aston at the expense of McLaren, it's even worse.
Let's hope Moers is doing it only for the money.
Hmmm thought Palmer being replaced would be favored by you :)
So much activity by Mercedes around Aston is interesting.
My thought at this time is that Mercedes interest in participating as a competitor in F1 beyond 2022 has diminished. Perhaps Mercedes will continue as a F1 PU supplier.
 

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Hmmm thought Palmer being replaced would be favored by you :)
So much activity by Mercedes around Aston is interesting.
My thought at this time is that Mercedes interest in participating as a competitor in F1 beyond 2022 has diminished. Perhaps Mercedes will continue as a F1 PU supplier.
You're right, I'm glad to see the back of Palmer. Trying to be charitable about it, if the problem were only that he was stupid, that wouldn't be his fault - it's not like one makes the choice to be stupid in the first place. If the problem were that he was intelligent enough but not honest enough, that would be different. I don't know which applies to him.
I have a general dislike of Aston Martin because it's the same as Burberry: they have made rubbish for years, but because they are associated with Ye Olde England they can get away with it (rather like Ferrari and the Old Country).
Racing Stroll: what can I say? A billionaire buying a seat for his kid is hard to respect, but the real problem is those utterly disgusting pink cars. Aesthetics matter at least as much as racing cars does, and those pink cars are a crime against humanity.
No idea what will happen with Merc's F1 team. The thing is, if they have better things on which to spend their money, and they conclude that they should stop being a constructor because the future is electric, then why would they continue to spend money building ICE-based PUs? Of the money that Daimler AG spend on their F1 project, the vast majority of it goes into developing and making the PUs. The constructor outfit nearly pays for itself, and under the cost cap definitely will do. I believe (but might be wrong) that the cost cap does not extend to the money spent by the PU supplier, but only (assuming that its customers and works team are treated and charged equally) to the constructor/entrant themselves.
 

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Discussion Starter · #11 ·
... .....
No idea what will happen with Merc's F1 team. The thing is, if they have better things on which to spend their money, and they conclude that they should stop being a constructor because the future is electric, then why would they continue to spend money building ICE-based PUs? Of the money that Daimler AG spend on their F1 project, the vast majority of it goes into developing and making the PUs. The constructor outfit nearly pays for itself, and under the cost cap definitely will do. I believe (but might be wrong) that the cost cap does not extend to the money spent by the PU supplier, but only (assuming that its customers and works team are treated and charged equally) to the constructor/entrant themselves.
Well the answer to your question “why would they (Mercedes) continue to spend money building ICE-based PUs?” is of course, because Mercedes would be paid to manufacture the PU’s for constructor teams - perhaps a good business/advertising for a few more years....?
Yes not sure that there is much more development life for the current PU.
 

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Well the answer to your question “why would they (Mercedes) continue to spend money building ICE-based PUs?” is of course, because Mercedes would be paid to manufacture the PU’s for constructor teams - perhaps a good business/advertising for a few more years....?
Yes not sure that there is much more development life for the current PU.
Although it was hard to extract reliable numbers, when I looked at the PU company's financial reports it looked like Daimler was subsidising it to the tune of at least £100m/yr. F1 customer teams have been each paying roughly $15-18m year, so unless there were a major change in how the PU supplier does business, the money to balance the accounts wouldn't be there without Daimler. Ferrari reportedly spends a similar amount on its PUs, and again that number is not included in summaries of the constructor's annual F1 budget.
 

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Discussion Starter · #13 ·
Although it was hard to extract reliable numbers, when I looked at the PU company's financial reports it looked like Daimler was subsidising it to the tune of at least £100m/yr. F1 customer teams have been each paying roughly $15-18m year, so unless there were a major change in how the PU supplier does business, the money to balance the accounts wouldn't be there without Daimler. Ferrari reportedly spends a similar amount on its PUs, and again that number is not included in summaries of the constructor's annual F1 budget.
Yes. My thought is going forward into the cap environment the PU research and development has/is coming to an end for this generation PU. So I think the cost to manufacture the current PU and make some profit at $18M/unit should be doable.
 

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Discussion Starter · #14 ·
MOTORTREND
2021 Aston Martin DBX First Drive: A True All-Weather Gran Turismo
We take Aston's first SUV for a spin.
2021 Aston Martin DBX hyper red 43
204862

SEE ALL 145 PHOTOS
Angus MacKenzie Words
Manufacturer Photos
Aug 9, 2020
The 2021 Aston Martin DBX is the first SUV in the storied British automaker's 107-year history. Daimler supplied the engine, the transmission, and the electrical architecture, but the rest of the DBX—the all-aluminum body structure, the anti-roll air suspension, the roomy and practical interior—has all been engineered and executed in-house. Now here's the thing: This off-road Aston isn't just a great first-time effort for an automaker that's never designed and developed an SUV before. It's great, period. The Aston Martin DBX sets a new benchmark for luxury performance SUVs right out of the box.

Range Rover, Porsche, Bentley, even Lamborghini: You're on notice. This $192,986 Aston Martin SUV delivers a bewitching blend of performance, luxury, capability, and sheer driving enjoyment.
How Fast Is The 2021 Aston Martin DBX?

We've already covered the technical elements of the DBX in detail, and we drove a prototype through the rocky desert of Oman last year, but just to recap the highlights: The DBX is powered by the AMG-developed 4.0-liter twin-turbo V-8 used in various Mercedes-AMG models, as well as Aston's own DB11 and Vantage sports cars. In DBX trim, it makes 542 hp and 516 lb-ft of torque and drives all four wheels through a performance version of Daimler's 4Matic all-wheel drive system and silky nine-speed automatic transmission. The drivetrain also features an active center-differential and rear e-diff. Suspension is by way of triple chamber air springs, with active anti-roll, and 22-inch wheels are standard.

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At 198.4 inches long, 78.7 inches wide, and 66.1 inches tall, the DBX is slightly longer and wider than the top-of-the-line, $180,000 Range Rover SVAutobiography Dynamic. But three key numbers reveal where the Aston differs dramatically from the vehicle that in many ways still defines the luxury SUV: 5.5, 7.2, and 850. The first number is how much longer, in inches, is the DBX's wheelbase than that of the full-size Range Rover. The second is how much lower, in inches, is the roof line. The third is how many fewer pounds the Aston Martin weighs relative to the last short-wheelbase Rover SVA we weighed. And it's in that third number that the genius of the DBX lies: It's bigger all around and considerably roomier inside than the Range Rover, yet it weighs 15 percent less.


That not only translates to better performance—Aston Martin engineers claim the DBX takes 4.3 seconds to accelerate from 0-60 mph, 0.6 seconds less than the 15 hp more powerful Range Rover—but, with the help of the nine-speed transmission, should also translate to lower fuel consumption; at 70 mph in ninth gear, the engine is ticking over at just 1,300 rpm. Plus, it only takes a handful of miles behind the wheel to understand how its lighter weight has helped define the DBX's dynamics. That, and the sophisticated suspension developed and tuned under the direction of Aston Martin vehicle attributes guru, Matt Becker.

Does The 2021 Aston Martin DBX Have Height Adjustable Suspension?
The DBX rides on a height adjustable suspension with triple chamber air springs and has a ZF active anti-roll system that deploys up to 1,032 lb-ft of torque to twist both the front and rear anti-roll bars against the cornering forces. The hardware itself is not unusual—Bentley's Bentayga uses a similar setup—but what sets the DBX apart from any other large luxury SUV is the tuning: Becker's team has delivered a chassis that feels at once agile and poised, regardless of what's happening beneath those 22-inch wheels and low-profile tires.

There are six drive modes, accessed via a pair of switches on the center console. The default setting is GT mode, which gives smoother throttle tip-in and gear shifts, comfort steering and suspension settings, and 7.5 inches of ground clearance. Terrain mode keeps the powertrain in GT mode but raises the ride height 1.2 inches. Terrain+ mode takes the ride height up a further 0.6 inch to 9.3 inches, giving the DBX a 25.7-degree approach angle, a 27.1-degree departure angle, an 18.8-degree breakover angle, and a maximum wading depth of 19.7 inches.
Sport mode drops the ride height by 0.6 inch, sharpens both throttle and transmission response, and sets the steering to Sport, which marginally increases the effort; the ratio stays at 14:1. Sport+ drops the ride height to 6.3 inches—the system will drop it to this level automatically at speeds above 124 mph—and allows a distant snap-crackle from the exhaust when you lift off the gas. Both modes stiffen the spring and damper rates, as well as the roll stiffness, with Sport+ adding a little extra stiffness to the rear axle to help the car rotate, says Becker.

How The 2021 Aston Martin DBX Drives
Left in GT mode, the DBX flowed beautifully down the gnarly British backroads on our drive loop, with the nine-speed automatically adroitly surfing the twin-turbo V-8's broad swathe of mid-range torque. The steering is light, accurate, and communicative, and there's an oily compliance to the primary ride, heave motions additionally calmed by that long wheelbase. The lack of body roll through turns, the absence of diagonal pitch and side-to-side head toss over bumps, and the way the dampers deftly catch upward body motions all conspire to make the Aston feel remarkably calm and composed.
With the suspension in Sport+ mode, the Aston is in a class of its own. Selecting stiffer spring, damper, and roll rates make many of its rivals feel jittery on anything other than perfectly smooth roads, but in the DBX, Sport+ mode barely constrains the natural fluidity of the chassis and adds a touch more agility on corner entry. The twin-turbo V-8 likes to party in Sport+ mode, with the exhaust note taking on a basso profundo growl and the tach needle swinging readily to the 7,000 rpm redline under the more alert throttle.
The DBX is no rock crawler, of course, but there was similar calmness and composure evident around the short off-road course on our drive route. In the Terrain modes, the active anti-roll system uses data from ride height sensors at each wheel to push the wheels down into hollows, effectively decoupling the roll stiffness and electronically enhancing articulation. The 22-inch wheels, the biggest wheel Aston has ever offered, and taut low-profile tires—285/40 front and 325/35 rear—make the ride under 25 mph a little niggly at times, not quite as good as a Range Rover on similarly sized rims. Ordering four-season rather than summer tires takes a little of the edge off, says Becker, as the tread blocks are softer.

To really appreciate how much of a game-changer the Aston Martin DBX is, head to a racetrack, select Sport+ mode, and switch off all the nannies. And be prepared to be blown away. It is a staggeringly good thing to drive fast, an SUV you can genuinely push with passion and verve and all the skill you can muster, without feeling you're constantly at war with the laws of physics. On summer tires, there's a deftness and precision at the front end you simply won't feel in any other SUV apart from, perhaps, the Alfa Romeo Stelvio Q4 Quadrifoglio. The Aston rotates beautifully on corner entry, stays flat all the way through, and dances on the throttle on the way out, exiting with just a smidgeon of perfectly poised opposite lock as the e-diff optimizes the torque flow.
Unlike the Porsche Cayenne Turbo or Bentley Bentayga, or even the spectacularly fast Lamborghini Urus, the Aston never feels like it's murdering the front tires when you push it hard, and it doesn't need the rear-steering system fitted to all three to help it turn in to corners. Instead of feeling like a tall, nose-heavy truck, the DBX drives more like a low-slung gran turismo, the 4Matic system sending up to 100 percent of the drive to the rear axle, and no more than 47 percent to the front. It can understeer if you get on the gas too early, but you instantly feel the slip, with the tire sliding across the surface rather than trying to roll off the rim, and can quickly adjust by easing off the throttle momentarily to get the chassis to rotate and then going to power to keep it all nicely balanced.
2021 Aston Martin DBX Exterior

It's difficult to translate sports car design cues onto a tall two-box canvas; witness Porsche's first-generation Cayenne. But the elegantly proportioned DBX is indisputably a member of the Aston Martin family. The front end is dominated by a supersized version of the iconic Aston Martin grille that gives the DBX a muscular yet sporty road presence. The sculpted body side is framed by fenders teased out over the wheels. A strong, carefully tensioned line that runs back from the top of the front fenders, and a roofline that drops as it runs rearwards from the windshield, give the DBX the athletic gesture of a sports car.
At the rear, the light graphic arching across a pronounced ducktail spoiler is an obvious nod to the Vantage coupe. But its thin section means that, from the base of the rear bumper to the lower edge of the rear backlight, you're looking at an awful lot of painted metal and plastic. The black-painted lower fascia helps take away some of the visual mass, but that trick won't work on a DBX painted black. It's probably the most polarizing element of the car.
There's function as well as form baked into the exterior design. Ducts around the daytime running lamps at the front of the DBX create fast jets of air that flow through the front wheel wells, around the front tires and exit through vents on the body sides, helping keep air attached to the sides of the car and reducing drag. A wing at the trailing edge of the roof provides some downforce, but more critically, it keeps most of the airflow attached to the rear window, which ensures that water is cleared from the raked backlight. That Vantage-style ducktail on the tailgate then manages that airflow at the rear of the vehicle to reduce lift at speed.
2021 Aston Martin DBX Interior

The DBX interior execution is straight out of the current Aston Martin playbook. It's modern in its forms and details, but you can order some quintessentially old-school English touches if you wish, such as leather on the seats that's brogued like a hand-made shoe, and wood on the center console and door trims. Fashionistas can opt for an 80 percent wool blend covering on the seats if they prefer, along with bronze mesh, a flax composite, or carbon fiber trim instead of wood. Whatever the specification, each DBX interior will require more than 200 hours of hand finishing.
The configurable digital dash is pure 21st century, however, with different colored frames for the virtual speedo and tach in each drive mode. Look around, and you'll notice lots of pre-MBUX Mercedes-Benz hardware, most notably the infotainment system and switchgear. The heated and cooled power front seats are comfortable, though the adjustment controls are hidden down on the side of the seat squab rather than up on the door and easy to see like in a Mercedes. The horizontal spokes of the steering wheel are crammed with fiddly little buttons that take time to decipher, and Aston's trademark spread of PRND buttons across the center of the dash may force shorter drivers to stretch when selecting a gear.
The practical side? Rear seat accommodation is superb, with that long wheelbase offering more legroom than anything other than a long wheelbase Range Rover or Rolls-Royce Cullinan. There's plenty of headroom for six-footers, too; This Aston Martin can genuinely carry four adults in comfort. The electrically powered tailgate opens to reveal a 22.3 cu-ft. trunk that can be expanded to 54.0 cu-ft. via the 40/20/40 split-fold rear seat. The rear load space is relatively shallow, but wide and long, and the floor lies flush with the rear bumper. Buttons on the right side of the hatch opening unlock the rear seat backs; on the left, they raise and lower the rear of the car to make loading easier.
Today's big, fast, and powerful SUVs are arguably 21st century gran turismos: vehicles capable of taking four passengers and their luggage across continents quickly and comfortably, on all roads, in all weathers. But the 2021 Aston Martin DBX is the first one that actually drives like a proper GT.

2021 Aston Martin DBX​
BASE PRICE $192,986
LAYOUT Front-engine, AWD, 5-pass, 4-door SUV
ENGINE 4.0L/542-hp/516-lb-ft twin-turbo DOHC 32-valve V-8
TRANSMISSION 9-speed automatic
CURB WEIGHT 4,950 lb (mfr)
WHEELBASE 120.5 in
L x W x H 198.4 x 78.7 x 64.2-68.0 in
0-60 MPH 4.3 sec (mfr est)
EPA FUEL ECON 15/20/17 mpg (est)
ENERGY CONSUMPTION, CITY/HWY 225/169 kW-hrs/100 miles (est)
CO2 EMISSIONS, COMB 1.15 lb/mile (est)
ON SALE Fall 2020

 

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Discussion Starter · #15 ·

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Discussion Starter · #17 ·
PRESS: Aston Martin seeking funding to safeguard future - Autocar
By Arvind Bhunjun
Thu, 30th Jun 2022
Aston Martin Lagonda Global Holdings PLC is seeking to raise funds to safeguard its future as the luxury carmaker ramps up investment for its next-generation platforms and electric vehicle strategy, according to industry publication Autocar on Wednesday.

Autocar highlighted that Aston Martin has GBP1.2 billion of outstanding bonds, bank drafts and loans on its books, meaning it is unlikely to be able to raise funds by taking on more debt, especially given the level of repayments currently required to service it.

Further, according to the report, the fundraising could include bringing a significant new investor in, potentially offering a position on the company’s board as an inducement for a holding that insiders suggest could be valued at upwards of GBP200 million.

Autocar's sources suggest there are two leading contenders for the funding. One is linked to a Saudi Arabian investment fund, with Chair Lawrence Stroll having strong links to the country via the Aston Martin Formula 1 team's title sponsorship with oil firm Saudi Arabian Oil Co, or Aramco. The other is linked to an investment fund based on the west coast of the US.


The stock was down 14% at 412.10 pence on Thursday, the worst performer in the FTSE 250.

By Arvind Bhunjun; [email protected]
 

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Discussion Starter · #20 ·
Saudi Arabia’s Public Investment Fund (PIF) is in early talks with British luxury carmaker Aston Martin about taking a stake in the business that could be worth 200 million pounds ($243.5-Million), the Financial Times (FT) reported on Thursday.
Reuters 1 July
Shares in Aston Martin, which had fallen as much as 20% to a record low on Thursday, trimmed losses to trade 9% lower by 1502 GMT after the group stopped short of confirming or denying the media reports. Aston Martin instead said it regularly keeps its funding options under review.
Frequently featured in the James Bond movie franchise, Aston Martin has had a bumpy ride since its initial public offering in late 2018.

Shares in the London-listed carmaker have fallen nearly 68% so far this year. In January, Aston Martin warned of lower-than-expected profit due to delays in shipments of its limited edition Valkyrie sports car.

The company said on Thursday production of Valkyrie continues to pick up pace, while its management team, which includes new boss Amedeo Felisa, was increasingly focused on new model launches from 2023 onwards.

Aston Martin seeking funding
The FT, citing four people, said Aston Martin was seeking to raise additional funding for its next range of cars.

Autocar late on Wednesday also reported the Gaydon-based carmaker was seeking to raise funds, saying there were two leading contenders, including one linked to the Saudi fund and another to an investment fund based in the United States.

PIF did not immediately respond to a request for comment on the media reports.

The Formula 1 team of Aston Martin, whose top shareholder is Chairman Lawrence Stroll and second largest investor is Mercedes Benz Group, has an existing partnership with Saudi’s Aramco, including team sponsorship rights and a licensing deal.

($1 = 0.8214 pounds) (Reporting by Yadarisa Shabong and Radhika Anilkumar)

 
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