Two new Aston Martins primed for Pebble Beach
Get set for two brand-new Astons later this month. Both quite special, we're betting...
Aston Martin has confirmed that it will reveal two brand-new models at the Pebble Beach Concours d’Elegance later this month. One is said to celebrate the tenth anniversary of Q by Aston Martin, the firm’s bespoke division - so expect something on the pricey side. Aston says the ‘very special, ultra-exclusive model’ is intended to encapsulate ‘the brand’s winning track bloodline with a nod to success at the 24 Hours of Le Mans’. That opens up a number of possibilities in terms of influences.
The other is widely thought to be the Roadster version of the V12 Vantage (a no-brainer variant we foretold back when we drove the coupe). Whatever it is, the new model will be exclusively revealed on August 19th at a private VIP evening event and, after that, it’ll be on show over the weekend at the Aston Martin stand – still by special invitation only, mind.
That’s not all. At the last Pebble Beach, Aston Martin gave a North American airing to its latest supercar, the Valhalla. The supercar will be on display again this year, but Aston also says it will be revealing ‘exciting development updates’ for it. What that equates to is a ‘revised concept of its driver-focused interior; offering an interactive space for prospective owners to test the vehicle’s unique seating position and F1 inspired overall ergonomics’. The Valhalla is limited to a production run of 999 and is based around a bespoke, twin-turbo flat-plane-crank V8 combined twin electric motors to create a 950hp hybrid powertrain.
All these offerings will be in the Aston Martin Club 1913. This is its ‘custom-built, invitation-only luxury clubhouse’ that will give guests a commanding view of the world’s most prestigious vintage car event. From there, guests will also be able to see the revered 18th fairway of the Pebble Beach Golf Links and panoramic views of Stillwater Cove.
The Valhalla looks incredible. When I went to Geneva a few years back and saw the concepts, I pleasantly surprised to trip up on them - had no idea they were working on a "supercar" style car.
In the first quarter of this year, Aston Martin recorded a net loss of £47.7 million (around $58.7 million at the time of writing) and net debt of over £956.8 million (around $1.1 billion), an increase from the £722.9 million (approximately $890.5 million) net debt owed during the same period in 2021
JULY 29 2022
Losses at Aston Martin ballooned after shortages of key parts left it with hundreds of unfinished models at the end of the first half of the year.
The luxury carmaker was also hit by foreign exchange movements and higher debt interest payments, during a tumultuous six months in which it changed chief executive and raised additional funds.
Pre-tax losses rose to £285.4mn, compared with a £90.7mn loss in the same six months last year, despite revenues climbing 9 per cent to £541.7mn.
Foreign exchange calculations on the company’s US-denominated debt accounted for £134mn of the loss, while the company also paid out £63mn of cash in interest. Aston is planning to pay down its large debt, which grew to £1.3bn at the end of June from £890mn six months earlier.
The company this month raised £653mn from Saudi Arabia’s Public Investment Fund and in a rights issue to other shareholders which is expected to complete during September.
Half the money from the fundraising will pay back debt, while half will be used to bolster Aston’s cash reserves.
The company’s cash pile was only £150mn at the end of June, a figure described as “dangerously low” by Bernstein analyst Daniel Roeska.
Part of the cash shortfall was the result of supply problems that left Aston with more than 350 near-finished DBX 707 models — the company’s latest SUV iteration — awaiting final parts at the end of June.
I don't think selling cars is the way out of this financial black hole....
cars will be recalled to get more work done as time goes by, it's a strange situation
In the first quarter of this year, Aston Martin recorded a net loss of £47.7 million (around $58.7 million at the time of writing) and net debt of over £956.8 million (around $1.1 billion), an increase from the £722.9 million (approximately $890.5 million) net debt owed during the same period in 2021
JULY 29 2022
Losses at Aston Martin ballooned after shortages of key parts left it with hundreds of unfinished models at the end of the first half of the year.
The luxury carmaker was also hit by foreign exchange movements and higher debt interest payments, during a tumultuous six months in which it changed chief executive and raised additional funds.
Pre-tax losses rose to £285.4mn, compared with a £90.7mn loss in the same six months last year, despite revenues climbing 9 per cent to £541.7mn.
Foreign exchange calculations on the company’s US-denominated debt accounted for £134mn of the loss, while the company also paid out £63mn of cash in interest. Aston is planning to pay down its large debt, which grew to £1.3bn at the end of June from £890mn six months earlier.
The company this month raised £653mn from Saudi Arabia’s Public Investment Fund and in a rights issue to other shareholders which is expected to complete during September.
Half the money from the fundraising will pay back debt, while half will be used to bolster Aston’s cash reserves.
The company’s cash pile was only £150mn at the end of June, a figure described as “dangerously low” by Bernstein analyst Daniel Roeska.
Part of the cash shortfall was the result of supply problems that left Aston with more than 350 near-finished DBX 707 models — the company’s latest SUV iteration — awaiting final parts at the end of June.
I don't think selling cars is the way out of this financial black hole....
Like just about every hypercar (Ford GT up to AMG GT One), it's made by Multimatic.
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