Aston Martin plans to expand its hypercar lineup with a coupe code-named the 003. Sales of the 003 will be limited to 500 units and its price is expected to be below that of its sister model, the Valkyrie, which start at $3.16 million.
Aston Martin says it is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from a stock market flotation in October. The automaker will publish a prospectus on Thursday and hopes to announce its final pricing at the beginning of next month, ahead of an IPO on or around Oct. 8.
As Aston Martin plans its London IPO, CEO Andy Palmer believes the company will be more profitable than Ferrari. But the automaker does not have Ferrari's revenue streams such as a Formula One team, engine sales, and huge product leverage through sponsorship activities.
Aston Martin CEO Andy Palmer says he intends to float the company by the end of the year, completing a turnaround after new models and a sales surge helped the brand to return to profitability following chronic losses.
Lotus has hired a top Aston Martin executive as its commercial director -- a new job for the UK sports car maker -- as it prepares for increased growth under the ownership of China's Geely Holding Group.
Andy Palmer, addressing the Automotive News Europe Congress, sounded the same worrisome themes about industry economics made famous by Sergio Marchionne, with a bit of Bob Lutz's doomsday talk thrown in.
The latest issue of the Automotive News Europe monthly magazine is ready to view. The new edition examines how ultraluxury automakers such as Aston Martin, McLaren and Ferrari have found a way to build and sell hypercars at a hefty profit. Something that was not always the case.
The latest issue of the Automotive News Europe monthly magazine goes live on Monday. The new edition examines how ultraluxury automakers such as Aston Martin, McLaren and Ferrari have found a way to build and sell hypercars at a hefty profit. Something that was not always the case.