Aston Martin
Template:Short description Template:Distinguish Template:Pp-vandalism Template:Pp-semi-indef Template:Use British English Template:Use dmy dates Template:Infobox company
Aston Martin Lagonda Global Holdings PLC (Template:IPAc-en) is a British manufacturer of luxury sports cars and grand tourers. Its predecessor was founded in 1913 by Lionel Martin and Robert Bamford. Headed from 1947 by David Brown, it became associated with expensive grand touring cars in the 1950s and 1960s, and with the fictional character James Bond following his use of a DB5 model in the 1964 film Goldfinger.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> Their grand tourers and sports cars are regarded as a British cultural icon.<ref>Template:Cite news</ref>
Aston Martin has held a royal warrant as purveyor of motorcars to Charles III (as Prince of Wales and later as King) since 1982,<ref>Template:Cite web</ref><ref name=":0">Template:Cite web</ref> and has over 160 car dealerships in 53 countries, making it a global automobile brand.<ref>Template:Cite web</ref> The company is traded on the London Stock Exchange and is a constituent of the FTSE 250 Index.<ref name=BBC_public>Template:Cite web</ref> In 2003 it received the Queen's Award for Enterprise for outstanding contribution to international trade.<ref>Template:London Gazette</ref> The company has survived seven bankruptcies throughout its history.<ref>Template:Cite web</ref>
The headquarters and main production of its sports cars and grand tourers are in a Template:Convert facility in Gaydon, Warwickshire, England, on the former site of RAF Gaydon, adjacent to the Jaguar Land Rover Gaydon Centre.<ref name= "aml gaydon">Template:Cite news</ref> The old Template:Convert facility in Newport Pagnell, Buckinghamshire, is the present home of the Aston Martin Works classic car department, which focuses on heritage sales, service, spares and restoration operations.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> The Template:Convert factory in St Athan, Wales, features three converted 'super-hangars' from MOD St Athan, and serves as the production site of Aston Martin's SUV, the DBX.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>
Aston Martin has been involved in motorsport at various points in its history, mainly in sports car racing,<ref name="prodrive">Template:Cite web</ref> and also in Formula One.<ref>Template:Cite web</ref> The Aston Martin brand is increasingly being used, mostly through licensing, on other products including a submarine,<ref>Template:Cite web</ref> real estate development,<ref name=residences>Template:Cite web</ref> and aircraft.<ref>Template:Cite web</ref>
History
[edit]Founding
[edit]Aston Martin was founded in 1913 by Lionel Martin and Robert Bamford.<ref>Template:Cite web</ref> The two had joined forces as Bamford & Martin the previous year to sell cars made by Singer from premises in Callow Street, London where they also serviced GWK and Calthorpe vehicles. Martin raced specials at Aston Hill near Aston Clinton, and the pair decided to make their own vehicles.<ref>Template:Cite journal</ref> The first car to be named Aston Martin was created by Martin by fitting a four-cylinder Coventry-Simplex engine to the chassis of a 1908 Isotta Fraschini.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
They acquired premises at Henniker Mews<ref>Template:Cite journal</ref> in Kensington and produced their first car in March 1915. Production could not start because of the outbreak of the First World War, when Martin joined the Admiralty and Bamford joined the Army Service Corps.<ref>Template:London Gazette</ref>
1918–1939: Interwar years
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After the war they found new premises at Abingdon Road, Kensington and designed a new car. Bamford left in 1920 and Bamford & Martin was revitalised with funding from Louis Zborowski. In 1922, Bamford & Martin produced cars to compete in the French Grand Prix, which went on to set world speed and endurance records at Brooklands. Three works Team Cars with 16-valve twin cam engines were built for racing and record-breaking: chassis number 1914, later developed as the Green Pea; chassis number 1915, the Razor Blade record car; and chassis number 1916, later developed as the Halford Special.<ref>The AM Halford Special, The First Five Years, AM Quarterly, Volume 19 Number 77, Summer 1981.</ref>
Approximately 55 cars were built for sale in two configurations; long chassis and short chassis. Bamford & Martin went bankrupt in 1924 and was bought by Dorothea, Lady Charnwood, who put her son John Benson on the board. Bamford & Martin got into financial difficulty again in 1925 and Martin was forced to sell the company (Bamford had already left it in 1920).<ref>Template:Cite book</ref>
Later that year, Bill Renwick, Augustus (Bert) Bertelli and investors including Lady Charnwood took control of the business. They renamed it Aston Martin Motors and moved it to the former Whitehead Aircraft Limited Hanworth works in Feltham. Renwick and Bertelli had been in partnership some years and had developed an overhead-cam four-cylinder engine using Renwick's patented combustion chamber design, which they had tested in an Enfield-Allday chassis. The only "Renwick and Bertelli" motor car made, it was known as "Buzzbox" and still survives.<ref name=bertelli>Template:Cite web</ref>
The pair had planned to sell their engine to motor manufacturers, but having heard that Aston Martin was no longer in production realised they could capitalise on its reputation to jump-start the production of a completely new car.<ref name=bertelli/>
Between 1926 and 1937 Bertelli was both technical director and designer of all new Aston Martins, since known as "Bertelli cars". They included the 1½-litre "T-type", "International", "Le Mans", "MKII" and its racing derivative, the "Ulster", and the 2-litre 15/98 and its racing derivative, the "Speed Model". Most were open two-seater sports cars bodied by Bert Bertelli's brother Enrico (Harry), with a small number of long-chassis four-seater tourers, dropheads and saloons also produced.<ref name=bertelli/>
Bertelli was a competent driver keen to race his cars, one of few owner/manufacturer/drivers. The "LM" team cars were very successful in national and international motor racing including at Le Mans.<ref name=bertelli/>
Financial problems reappeared in 1932. Aston Martin was rescued for a year by Lance Prideaux Brune before passing it on to Sir Arthur Sutherland. In 1936, Aston Martin decided to concentrate on road cars, producing just 700 until World War II halted work. Production shifted to aircraft components during the war.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>
1947–1972: David Brown
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In 1947, old-established (1860) privately owned Huddersfield gear and machine tools manufacturer David Brown Limited bought Aston Martin, putting it under control of its Tractor Group. David Brown became Aston Martin's latest saviour.<ref>The David Brown Corporation Limited (Incorporated under the Companies Act. 1948.) The Times, Monday, 12 March 1951; p. 9; issue 51947.</ref> He also acquired Lagonda,<ref>The New Lagonda Car. The Times, Saturday, 20 September 1947; p. 3; issue 50871.</ref> without its factory, for its 2.6-litre W. O. Bentley-designed engine. Lagonda moved operations to Newport Pagnell and shared engines, resources and workshops. Aston Martin began to build the classic "DB" series of cars.<ref name=cct>Template:Cite web</ref>
In April 1950, they announced planned production of their Le Mans prototype to be called the DB2,<ref>The 2½-Litre Aston-Martin. The Times, Tuesday, 25 April 1950; p. 3; issue 51674.</ref> followed by the DB2/4 in 1953, the DB2/4 MkII in 1955, the DB Mark III in 1957 and the Italian-styled 3.7 L DB4 in 1958.<ref name=cct/>
While these models helped Aston Martin establish a good racing pedigree, the DB4 stood out and yielded the famous DB5 in 1963. Aston stayed true to its grand touring style with the DB6 (1965–70), and DBS (1967–1972).<ref name=cct/>
The six-cylinder engines of these cars from 1954 up to 1965 were designed by Tadek Marek.<ref>Classic Cars: The World's Greatest Marques Template:ISBN p. 29</ref>
1972–1975: William Willson
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Aston Martin was often financially troubled. In 1972, David Brown paid off all its debts, said to be £5 million or more, and handed it for £101 to Company Developments, a Birmingham-based investment bank consortium chaired by accountant William Willson.<ref>Template:Cite journal</ref> More detail on this period may be read at Willson's biography. The worldwide recession, lack of working capital and the difficulties of developing an engine to meet California's exhaust emission requirements – it stopped the company's US sales – again pulled Aston Martin into receivership at the end of 1974. The company had employed 460 workers when the manufacturing plant closed.<ref name=TT59502>Receiver is called in at Jensen Motors. The Times, Tuesday, 16 September 1975; p. 17; issue 59502.</ref>
1975–1981: Sprague and Curtis
[edit]The receiver sold the business in April 1975 for £1.05 million to North American businessman Peter Sprague of National Semiconductor, Toronto hotelier George Minden,<ref name=Car197809>Template:Cite journal</ref> and Jeremy Turner, a London businessman,<ref>Aston Martin bid final, consortium says. The Times, Friday, 4 April 1975; p. 19; issue 59361.</ref> who insisted to reporters that Aston Martin remained a British controlled business. Sprague later claimed he had fallen in love with the factory, not the cars, the workforce's craftsmanship dedication and intelligence. At this point, he and Minden had brought in investor Alan Curtis, a British office property developer, together with George Flather, a retired Sheffield steel magnate.<ref name=TT60284>Lagonda sets out on a new course. The Times, Monday, 24 April 1978; p. 18; issue 60284.</ref>
Six months later, in September 1975, the factory – shut down the previous December – re-opened under its new owner as Aston Martin Lagonda Limited with 100 employees, and planned to lift staff to 250 by the end of 1975.<ref name=TT59502/> In January 1976, AML revealed that it now held orders for 150 cars for the US, 100 for other markets and another 80 from a Japanese importing agency.<ref>Aston Martin Revival. The Times, Saturday, 10 January 1976; p. 17; issue 59598.</ref> At the Geneva Motor Show, Fred Hartley, managing director and sales director for 13 years before that, announced he had resigned over "differences in marketing policy".<ref>On the Move. The Times, Wednesday, 16 March 1977; p. 21; issue 59953.</ref>
The new owners pushed Aston Martin into modernising its line, introducing the V8 Vantage in 1977, the convertible Volante in 1978, and the one-off Bulldog styled by William Towns in 1980. Towns also styled the futuristic new Lagonda saloon, based on the V8 model.<ref>Template:Cite web</ref>
Curtis, who had a 42% stake in Aston Martin,<ref>Consortium puts in its bid for MG. The Times, Friday, 25 January 1980; p. 17; issue 60533.</ref> also brought about a change in direction from the usual customers who were Aston Martin fans, to successful young married businessmen. Prices had been increased by 25%.<ref name=TT60284/> There was speculation that AML was about to buy Italian automobile manufacturer Lamborghini.<ref>August car sales may hit peak. The Times, Friday, 18 August 1978; p. 16; issue 60383.</ref> At the end of the 1970s, there was widespread debate about running MG into the Aston Martin consortium. 85 Conservative MPs formed themselves into a pressure group to get British Leyland to release their grip and hand it over.<ref>Sell MG to Aston Martin, MPs say. The Times, Tuesday, 27 November 1979; p. 16; issue 60485.</ref> CH Industrials plc (car components) bought a 10% share in AML. But in July 1980, blaming a recession, AML cut back their workforce of 450 by more than 20%, making those people redundant.<ref>The Times, Tuesday, 1 July 1980; p. 17; issue 60665.</ref>
1981–1987: Victor Gauntlett
[edit]In January 1981, there having been no satisfactory revival partners, Alan Curtis and Peter Sprague announced they had never intended to maintain a long-term financial stake in Aston Martin Lagonda and it was to be sold to Pace Petroleum's Victor Gauntlett. Sprague and Curtis pointed out that under their ownership AML finances had improved to where an offer for MG might have been feasible.<ref>Petrol chief takes over Aston Martin. The Times, Monday, 5 January 1981; p. 15; issue 60817.</ref>
Gauntlett bought a 12.5% stake in Aston Martin for £500,000 via Pace Petroleum in 1980, with Tim Hearley of CH Industrials taking a similar share. Pace and CHI took over as joint 50/50 owners at the beginning of 1981, with Gauntlett as executive chairman. Gauntlett also led the sales team, and after some development and publicity when the Lagonda became the world's fastest four-seater production car, was able to sell the car in Oman, Kuwait, and Qatar.<ref name=VGOBIT>Template:Cite news</ref> In 1982, Aston Martin was granted a Royal Warrant of Appointment by the Prince of Wales.<ref name=":0" />
Understanding that it would take some time to develop new Aston Martin products, they created an engineering service subsidiary to develop automotive products for other companies. It was decided to use a trade name of Salmons & Son, their in-house coachbuilder, Tickford, which Aston Martin had bought in 1955. Tickford's name had been long associated with expensive high-quality carriages and cars along with their folding roofs. New products included a Tickford Austin Metro, a Tickford Ford Capri and even Tickford train interiors, particularly on the Jaguar XJS.<ref name=VGOBIT/> Pace continued sponsoring racing events, and now sponsored all Aston Martin Owners Club events, taking a Tickford-engined Nimrod Group C car owned by AMOC President Viscount Downe, which came third in the Manufacturers Championship in both 1982 and 1983. It also finished seventh in the 1982 24 Hours of Le Mans race. However, sales of production cars were now at an all-time low of 30 cars produced in 1982.<ref name=VGOBIT/>
As trading became tighter in the petroleum market, and Aston Martin was requiring more time and money, Gauntlett agreed to sell Hays/Pace to the Kuwait Investment Office in September 1983. As Aston Martin required greater investment, he also agreed to sell his share holding to American importer and Greek shipping tycoon Peter Livanos, who invested via his joint venture with Nick and John Papanicolaou, ALL Inc. Gauntlett remained chairman of AML, 55% of the stake was owned by ALL, with Tickford a 50/50 venture between ALL and CHI. The uneasy relationship was ended when ALL exercised options to buy a larger share in AML; CHI's residual shares were exchanged for CHI's complete ownership of Tickford, which retained the development of existing Aston Martin projects. In 1984, Papanicolaou's Titan shipping business was in trouble so Livanos's father George bought out the Papanicolaou's shares in ALL, while Gauntlett again became a shareholder with a 25% holding in AML. The deal valued Aston Martin/AML at £2 million, the year it built its 10,000th car.<ref name=VGOBIT/>
Although as a result Aston Martin had to make 60 members of the workforce redundant, Gauntlett bought a stake in Italian styling house Zagato, and resurrected its collaboration with Aston Martin.<ref>Template:Cite web</ref> In 1986, Gauntlett negotiated the return of the fictional British secret agent James Bond to Aston Martin. Cubby Broccoli had chosen to recast the character using actor Timothy Dalton, in an attempt to re-root the Bond-brand back to a more Sean Connery-like feel. Gauntlett supplied his personal pre-production Vantage for use in the filming of The Living Daylights, and sold a Volante to Broccoli for use at his home in America. Gauntlett turned down the role of a KGB colonel in the film, however: "I would have loved to have done it but really could not afford the time."<ref>Template:Cite web</ref>
1987–2007: Ford Motor Company
[edit]As Aston Martin needed funds to survive in the long term, Ford bought a 75% stake in the company in 1987, and bought the rest later.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In May of that year, Victor Gauntlett and Prince Michael of Kent were staying at the home of Contessa Maggi, the wife of the founder of the original Mille Miglia, while watching the revival event. Another house guest was Walter Hayes, vice-president of Ford of Europe. Despite problems over the previous acquisition of AC Cars, Hayes saw the potential of the brand and the discussion resulted in Ford taking a share holding in September 1987.<ref>Template:Cite web</ref> In 1988, having produced some 5,000 cars in 20 years, a revived economy and successful sales of limited edition Vantage, and 52 Volante Zagato coupés at £86,000 each; Aston Martin finally retired the ancient V8 and introduced the Virage range.<ref>Template:Cite web</ref>
Although Gauntlett was contractually to stay as chairman for two years, his racing interests took the company back into sports car racing in 1989 with limited European success. However, with engine rule changes for the 1990 season and the launch of the new Volante model, Ford provided the limited supply of Cosworth engines to the Jaguar cars racing team. As the entry-level DB7 would require a large engineering input, Ford agreed to take full control of Aston Martin, and Gauntlett handed over Aston Martin's chairmanship to Hayes in 1991.<ref>Template:Cite news</ref> In 1992, the high-performance variant of the Virage called the Vantage was announced, and the following year Aston Martin renewed the DB range by announcing the DB7.<ref>Template:Cite web</ref>
By 1993, Ford had fully acquired the company after having built a stake in 1987.<ref>Template:Cite web</ref> Ford placed Aston Martin in the Premier Automotive Group, invested in new manufacturing and ramped up production. In 1994, Ford opened a new factory at Banbury Road in Bloxham to manufacture the DB7. In 1995, Aston Martin produced a record 700 cars.<ref>Template:Cite web</ref> Until the Ford era, cars had been produced by hand coachbuilding craft methods, such as the English wheel. During the mid-1990s, the Special Projects Group, a secretive unit with Works Service at Newport Pagnell, created an array of special coach-built vehicles for the Brunei royal family.<ref>David Dowsey (2007). Aston Martin: Power, Beauty and Soul. Peleus Press. Template:ISBN.</ref> In 1998, the 2,000th DB7 was built, and in 2002, the 6,000th, exceeding production of all of the previous DB series models. The DB7 range was revamped by the addition of more powerful V12 Vantage models in 1999, and in 2001, Aston Martin introduced the V12-engined flagship model called the Vanquish which succeeded the aging Virage (now called the V8 Coupé).<ref>Template:Cite web</ref>
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At the North American International Auto Show in Detroit, Michigan in 2003, Aston Martin introduced the V8 Vantage concept car. Expected to have few changes before its introduction in 2005, the Vantage brought back the classic V8 engine to allow Aston Martin to compete in a larger market. 2003 also saw the opening of the Gaydon factory, the first purpose-built factory in Aston Martin's history. The facility is situated on a Template:Convert site of a former RAF V Bomber airbase, with an Template:Convert front building for offices, meeting rooms and customer reception, and a Template:Convert production building.<ref name="aml gaydon"/><ref>Template:Cite news</ref> Also introduced in 2003 was the DB9 coupé, which replaced the ten-year-old DB7. A convertible version of the DB9, the DB9 Volante, was introduced at the 2004 Detroit auto show.<ref>Template:Cite web</ref>
In October 2004, Aston Martin set up the dedicated Template:Convert Aston Martin Engine Plant (AMEP) within the Ford Germany plant in Niehl, Cologne. With the capacity to produce up to 5,000 engines a year by 100 specially trained personnel, like traditional Aston Martin engine production from Newport Pagnell, assembly of each unit was entrusted to a single technician from a pool of 30, with V8 and V12 variants assembled in under 20 hours. By bringing engine production back to within Aston Martin, the promise was that Aston Martin would be able to produce small runs of higher performance variants' engines.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> This expanded engine capacity allowed the entry-level V8 Vantage sports car to enter production at the Gaydon factory in 2006, joining the DB9 and DB9 Volante.<ref>Template:Cite web</ref>
In December 2003, Aston Martin announced it would return to motor racing in 2005. A new division was created, called Aston Martin Racing, which became responsible, together with Prodrive, for the design, development, and management of the DBR9 program. The DBR9 competes in the GT class in sports car races, including the world-famous 24 Hours of Le Mans.<ref>Template:Cite web</ref>
In 2006, an internal audit led Ford to consider divesting itself of parts of its Premier Automotive Group. After suggestions of selling Jaguar Cars, Land Rover, or Volvo Cars were weighed, Ford announced in August 2006 it had engaged UBS AG to sell all or part of Aston Martin at auction.<ref>Template:Cite web</ref>
2007–2018: Private Limited Company
[edit]On 12 March 2007, a consortium led by Prodrive chairman David Richards purchased Aston Martin for £475 million (US$848 million).<ref>Template:Cite news</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> The group included American investment banker John Sinders and two Kuwaiti companies namely Investment Dar and Adeem Investment.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> Prodrive had no financial involvement in the deal.<ref>Template:Cite press release</ref> Ford kept a stake in Aston Martin valued at £40 million (US$70 million).<ref>Template:Cite newsTemplate:Cbignore</ref>
To demonstrate the V8 Vantage's durability across hazardous terrain and promote the car in China, the first east–west crossing of the Asian Highway was undertaken between June and August 2007. A pair of Britons drove Template:Convert from Tokyo to Istanbul before joining the European motorway network for another Template:Convert to London. The promotion was so successful Aston Martin opened dealerships in Shanghai and Beijing within three months.<ref>Template:Cite press release</ref>
On 19 July 2007, the Newport Pagnell plant rolled out the last of nearly 13,000 cars made there since 1955, a Vanquish S. The Tickford Street facility was converted and became the home of the Aston Martin Works classic car department which focuses on heritage sales, service, spares and restoration operations.<ref>Template:Cite web</ref><ref>Template:Cite journal</ref> UK production was subsequently concentrated on the Template:Convert facility in Gaydon on the former RAF V Bomber airbase.<ref>Aston Martin Gaydon at Tim Cottingham's Aston Martins (non-official) site Template:Webarchive</ref> In March 2008, Aston Martin announced a partnership with Magna Steyr to outsource manufacture of over 2,000 cars annually to Graz, Austria, reassuringly stating: "The continuing growth and success of Aston Martin is based upon Gaydon as the focal point and heart of the business, with the design and engineering of all Aston Martin products continuing to be carried out there."<ref>Statement by Aston Martin's CEO, Dr Ulrich Bez Official site, 4 March 2008 Template:Webarchive</ref>
More dealers in Europe and the new pair in China brought the total to 120 in 28 countries.<ref>Template:Cite web</ref> On 1 September 2008, Aston Martin announced the revival of the Lagonda marque, proposing a concept car to be shown in 2009 to coincide with the brand's 100th anniversary. The first production cars were slated for production in 2012.<ref>Template:Cite web</ref> In December 2008, Aston Martin announced it would cut its workforce from 1,850 to 1,250 due to the economic recession.<ref name="autogenerated1">Template:Cite news</ref><ref>Template:Cite news</ref>
The first four-door Rapide grand tourers rolled out of the Magna Steyr factory in Graz, Austria, in 2010.<ref>Media announcement on official website, 7 May 2010 Template:Webarchive</ref> The contract manufacturer provides dedicated facilities to ensure compliance with the exacting standards of Aston Martin and other marques, including Mercedes-Benz. Then CEO of the company, Ulrich Bez had publicly speculated about outsourcing all of Aston Martin's operations with the exception of marketing.<ref>Template:Cite web</ref> In September 2011, it was announced that production of the Rapide would be returned to Gaydon in the second half of 2012, restoring all of the company's automobile manufacture there.<ref>Template:Cite magazine</ref>
Italian private equity fund Investindustrial signed a deal on 6 December 2012 to buy a 37.5% stake in Aston Martin, investing £150 million as a capital increase.<ref name=BBC20640529>Template:Cite news</ref><ref name=Reuters21207>Template:Cite news</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> This was confirmed by Aston Martin in a press release on 7 December 2012.<ref>Template:Cite press release</ref> David Richards left Aston Martin in 2013, returning to concentrate on Prodrive.<ref>Template:Cite web</ref>
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In April 2013, it was reported that Bez would be leaving his role as the chief executive officer to take up a more ambassadorial position.<ref>Template:Cite web</ref> On 2 September 2014, Aston Martin announced it had appointed the Nissan executive Andy Palmer as the new CEO with Bez retaining a position as non-executive chairman.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> As sales had been declining from 2015, Aston Martin sought new customers (particularly wealthy female buyers) with introducing concept cars like the DBX SUV along with track focused cars like the Vulcan.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> According to Palmer, the troubles started when sales of the DB9 failed to generate sufficient fund to develop next-generation models which led to a downward spiral of declining sales and profitability.<ref name=autonews04092015/>
Palmer outlined that the company plans to develop two new platforms, add a crossover, refresh its supercar lineup and leverage its technology alliance with Daimler as part of its six-year plan to make the 100-year-old British brand consistently profitable. He stated, "In the first century we went bankrupt seven times. The second century is about making sure that is not the case."<ref name=autonews04092015>Template:Cite news</ref> In preparation for its next-generation of sports cars, the company invested £20 million ($33.4 million) to expand its manufacturing plant in Gaydon. The expansion at the Gaydon plant includes a new chassis and pilot build facility, as well as an extension of the parts and logistics storage area, and new offices. In total, Aston Martin will add approximately Template:Convert to the plant.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>
In 2014, Aston Martin suffered a pre-tax loss of £72 million, almost triple of the amount of 2013 selling 3,500 cars during the year, well below the 7,300 cars sold in 2007 and 4,200 sold in 2013 respectively.<ref name="FT10162015"/> In March 2014, Aston Martin issued "payment in kind" notes of US$165 million, at 10.25% interest, in addition to the £304 million of senior secured notes at 9.25% issued in 2011.<ref name="FT10162015"/> Aston Martin also had to secure an additional investment of £200 million from its shareholders to fund development of new models.<ref name="FT10162015">Template:Cite news</ref> It was reported that Aston Martin's pre-tax losses for 2016 increased by 27% to £162.8 million, the sixth year it continued to suffer a loss.<ref>Template:Cite news</ref>
In February 2016, the company selected a Template:Convert site in St Athan, South Wales for its new factory.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> The Welsh facility was unanimously chosen by Aston's board despite fierce competition from other locations as far afield as the Americas, Europe, the Middle East, as well as other sites in the UK believed to be Bridgend, Birmingham, and Coventry. The facility featured three existing 'super-hangars' of MOD St Athan.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> Construction work of converting the hangars commenced in April 2017.<ref>Template:Cite news</ref> Aston Martin returned to profit in 2017 after selling over 5,000 cars. The company made a pre-tax profit of £87 million compared with a £163 million loss in 2016.<ref>Template:Cite web</ref> 2017 also marked the return of production of the Newport Pagnell facility ten years after it originally ceased.<ref>Template:Cite news</ref>
2013–present: Partnership with Mercedes-Benz Group
[edit]In December 2013, Aston Martin signed a deal with Mercedes-Benz Group (at the time known as Daimler) to supply the next generation of Aston Martin cars with Mercedes-AMG engines.<ref>Template:Cite news</ref> Mercedes-AMG also was to supply Aston Martin with electrical systems. This technical partnership was intended to support Aston Martin's launch of a new generation of models that would incorporate new technology and engines. In exchange, Mercedes will get as much as 5% equity in Aston Martin and a non-voting seat on its board.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> The first model to sport the Mercedes-Benz technology was the DB11, announced at the 86th Geneva Motor Show in March 2016.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> It featured Mercedes-Benz electronics for the entertainment, navigation and other systems.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> It was also the first model to use Mercedes-AMG V8 engines.<ref>Template:Cite newsTemplate:Cbignore</ref> In October 2020, Mercedes confirmed it will increase its holding "in stages" from 5% to 20%.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In return, Aston Martin will have access to Mercedes-Benz hybrid and electric drivetrain technologies for its future models.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
2018–present: Listed on the London Stock Exchange
[edit]After "completing a turnaround for the once perennially loss-making company that could now be valued at up to 5 billion pounds ($6.4 billion),"<ref name="BBC Results">Template:Cite news</ref> and now reporting a full-year pre-tax profit of £87 million (compared with a £163 million loss in 2016) Aston Martin in August 2018 announced plans to float the company at the London Stock Exchange as Aston Martin Lagonda Global Holdings plc.<ref>Template:Cite web</ref><ref name="BBC Results"/> The company was the subject of an initial public offering on the London Stock Exchange on 3 October 2018.<ref name=BBC_public /> In the same year, Aston Martin opened a new vehicle dynamics test and development centre at Silverstone's Stowe Circuit alongside a new HQ in London.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> In June 2019, the company opened its new Template:Convert factory in St Athan for the production of its first-ever SUV the DBX.<ref>Template:Cite news</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> The factory was finally completed and officially opened on 6 December 2019. When full production begins in the second quarter of 2020, around 600 people will be employed at the factory, rising to 750 when peak production is reached.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>
On 31 January 2020 it was announced that Canadian billionaire and investor Lawrence Stroll was leading a consortium, Yew Tree Overseas Limited, who will pay £182 million in return for 16.7% stake in the company. The re-structuring includes a £318 million cash infusion through a new rights issue, generating a total of £500 million for the company.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> Stroll will also be named as chairman, replacing Penny Hughes.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> Swiss pharmaceutical magnate Ernesto Bertarelli and Mercedes-AMG Petronas F1 team principal and CEO Toto Wolff have also joined the consortium, acquiring 3.4% and 4.8% stakes, respectively.<ref>Template:Cite news</ref> In March 2020, Stroll increased his stake in the company to 25%.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>
On 26 May 2020, Aston Martin announced that Andy Palmer had stepped down as CEO. Tobias Moers of Mercedes-AMG will succeed him starting 1 August, with Keith Stanton as interim chief operating officer.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> In June 2020, the company announced that it cut out 500 jobs as a result of the poor sales, an outcome of the COVID-19 pandemic lockdown.<ref>Template:Cite news</ref> In March 2021, executive chairman Lawrence Stroll stated that the company plans on building electric vehicles by 2025.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> In May 2022, Aston Martin named 76-year-old Amedeo Felisa as the new chief executive officer, replacing Tobias Moers. Roberto Fedeli was also announced as the new chief technical officer.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>
Template:AnchorIn late 2020, Aston Martin was involved in a controversy in which it was accused of using a report to spread disputed information about electric vehicles in the wake of the UK's declaration to end the sale of combustion engine vehicles by 2030, with some in the media dubbing the controversy as "Astongate".<ref>Template:Cite web</ref> In November 2020, a communications agency called Clarendon Communications published a report comparing the environmental impact of various powertrain options for cars. After the report received coverage from The Sunday Times and other publications, it emerged that the company had been set up in February that year and was registered under the name of Rebecca Stephens – the wife of James Stephens, who is the government affairs director of Aston Martin Lagonda. Citing a study by Polestar, the report stated that electric vehicles would need to be driven Template:Convert before they would have lower overall Template:CO2 emissions than a petrol car. This statement was disputed by electric vehicle researcher Auke Hoekstra, who argued that the report underestimated the emissions from combustion engine vehicles and did not consider the emissions from creating petrol. According to him, a typical EV would need to drive 16,000–18,000 miles (25,700–30,000 km) to offset the emissions from manufacture. Bosch and a number of other companies were also involved with the report.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
In July 2022, Saudi Arabia's Public Investment Fund (PIF) will take a stake in the company through a £78 million equity placing as well as a £575 million separate rights issue, giving it two board seats in the company. After the rights issue, the Saudi fund will have a 16.7% stake in Aston Martin, behind the 18.3% holding by Stroll's Yew Tree consortium while the Mercedes-Benz Group will own 9.7%.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> In September 2022, Chinese automaker Geely acquired a 7.6% stake in the company.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> In December 2022, Stroll and the Yew Tree consortium increased their stake in the company to 28.29%.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In May 2023, Geely increased its stake to 17%, becoming the third-largest shareholder after the Yew Tree consortium and the Saudi Arabia Public Investment Fund.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>
In June 2023, Aston Martin signed an agreement with Lucid Motors after selecting it to help supply electric motors, powertrains, and battery systems for its upcoming range of fully electric cars. In return, Aston Martin will make cash payments and issue a 3.7Template:Nbsppercent stake in its company to Lucid, worth $232Template:Nbspmillion in total.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> In September 2023, the Yew Tree consortium increased their stake by 3.27% to 26.23%.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> In October 2023, Aston Martin announced that it would compete in the FIA World Endurance Championship and IMSA SportsCar Championship in 2025.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> In April 2024, the company said it would push back production of its first electric vehicle to 2027.<ref>Template:Cite web</ref> In March 2024, Aston Martin announced Adrian Hallmark as its new CEO beginning 1 October 2024, replacing Amedeo Felisa.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
In September 2024, Aston Martin issued a profit warning, saying it had been hit by a fall in demand in China.<ref>Template:Cite web</ref> In November 2024, Aston Martin issued another warning following a minor delay in the deliveries of their Valiant model. In response, they said they would issue new shares and debt totalling £210 million.<ref>Template:Cite web</ref> In February 2025, CEO Adrian Hallmark announced the company would again push back production of its first electric vehicle to 2030.<ref>Template:Cite web</ref> On 31 March 2025, the Yew Tree Consortium is set to inject an additional £52.5 million into the marque by purchasing 75 million shares at 70 pence per share, increasing its stake to 33%.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> The company will also sell shares in the Formula One racing team that it sponsors. In total, the two transactions will raise £125 million.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
Sales at auction
[edit]In August 2017, a 1956 Aston Martin DBR1/1 sold at a Sotheby's auction at the Pebble Beach, California Concours d'Elegance for US$22,550,000, which made it the most expensive British car ever sold at an auction, according to Sotheby's.<ref>Template:Cite web</ref> The car had previously been driven by Carroll Shelby and Stirling Moss.<ref>Template:Cite web</ref><ref> Template:Cite web</ref>
In 2015 a 1962 Aston Martin DB4 GT Zagato for US$14,300,000 in New York,<ref>Template:Cite web</ref> and a 1963 Aston Martin DP215 for US$21,455,000 in August 2018.<ref>Template:Cite web</ref>
Models
[edit]Pre-war cars
[edit]- 1921–1925 Aston Martin Standard Sports
- 1927–1932 Aston Martin First Series
- 1929–1932 Aston Martin International
- 1932–1932 Aston Martin International Le Mans
- 1932–1934 Aston Martin Le Mans
- 1933–1934 Aston Martin 12/50 Standard
- 1934–1936 Aston Martin Mk II
- 1934–1936 Aston Martin Ulster
- 1936–1940 Aston Martin 2-litre Speed Models (23 built; the last 8 were fitted with C-type bodywork)
- 1937–1939 Aston Martin 15/98
Post-war cars
[edit]- 1948–1950 Aston Martin 2-Litre Sports (DB1)
- 1950–1953 Aston Martin DB2
- 1953–1957 Aston Martin DB2/4
- 1957–1959 Aston Martin DB Mark III
- 1958–1963 Aston Martin DB4
- 1961–1963 Aston Martin DB4 GT Zagato
- 1963–1965 Aston Martin DB5
- 1965–1966 Aston Martin Short Chassis Volante
- 1965–1969 Aston Martin DB6
- 1967–1972 Aston Martin DBS
- 1969–1989 Aston Martin V8
- 1977–1989 Aston Martin V8 Vantage
- 1986–1990 Aston Martin V8 Zagato
- 1989–1996 Aston Martin Virage
- 1989–2000 Aston Martin Virage
- 1993–2000 Aston Martin Vantage
- 1996–2000 Aston Martin V8 Coupe/V8 Volante
- 1993–2003 Aston Martin DB7
- 2001–2007 Aston Martin Vanquish
- 2002–2003 Aston Martin DB7 Zagato
- 2002–2004 Aston Martin DB AR1
- 2004–2016 Aston Martin DB9
- 2005–2018 Aston Martin V8 and V12 Vantage
- 2007–2012 Aston Martin DBS
- 2009–2012 Aston Martin One-77
- 2010–2020 Aston Martin Rapide
- 2011–2012 Aston Martin Virage
- 2011–2013 Aston Martin Cygnet (based on the Toyota iQ)
- 2012–2018 Aston Martin Vanquish
- 2015–2016 Aston Martin Vulcan
- 2016–2023 Aston Martin DB11
- 2018–2024 Aston Martin DBS Superleggera
- 2021–2024 Aston Martin Valkyrie
- 2018–present Aston Martin Vantage
- 2020–present Aston Martin DBX
- 2023–present Aston Martin DB12
- 2024–present Aston Martin Vanquish
Other
[edit]- 1944 Aston Martin Atom (concept)
- 1961–1964 Lagonda Rapide
- 1976–1989 Aston Martin Lagonda
- 1980 Aston Martin Bulldog (concept)
- 1993 Lagonda Vignale (concept)
- 2001 Aston Martin Twenty Twenty (Italdesign concept)
- 2007 Aston Martin V12 Vantage RS (concept)<ref>Template:Cite web</ref>
- 2009 Aston Martin Lagonda SUV (concept)<ref>Template:Cite web</ref>
- 2011–2013 Aston Martin V12 Zagato<ref>Template:Cite web</ref>
- 2013 Aston Martin Rapide Bertone Jet 2+2 (concept)
- 2013 Aston Martin CC100 Speedster (concept)<ref>Template:Cite web</ref>
- 2015 Aston Martin DB10 (concept)
- 2015–2016 Lagonda Taraf
- 2019 Aston Martin Lagonda All-Terrain (concept)<ref>Template:Cite web</ref>
- 2019 Aston Martin Vanquish Vision (concept)<ref>Template:Cite web</ref>
- 2019 Aston Martin DBS GT Zagato<ref>Template:Cite web</ref>
- 2020 Aston Martin V12 Speedster<ref>Template:Cite web</ref>
- 2021 Aston Martin Victor<ref>Template:Cite web</ref>
- 2022 Aston Martin DBR22<ref>Template:Cite web</ref>
- 2023 Aston Martin Valour<ref>Template:Cite web</ref>
- 2024 Aston Martin Valiant<ref>Template:Cite web</ref>
Current models
[edit]Upcoming models
[edit]Gallery
[edit]- Aston Martin models
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1930 Aston Martin1.5L International
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1932–1934 Aston Martin Le Mans short chassis
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1948–1950 Aston Martin DB1
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1957–1959 Aston Martin DB Mark III
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1958–1963 Aston Martin DB4/GT
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1961–1963 Aston Martin DB4 GT Zagato
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1963–1965 Aston Martin DB5
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1965–1971 Aston Martin DB6
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1986–1990 Aston Martin V8 Zagato
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1989–2000 Virage/V8/Vantage
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1993–2003 Aston Martin DB7/Vantage
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2001–2007 Aston Martin V12 Vanquish/S
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2002–2003 DB7 Zagato coupé/roadster
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2002–2004 Aston Martin DB AR1 roadster
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2003–2016 Aston Martin DB9 coupé/Volante
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2005–2017 Aston Martin V8/V12 Vantage
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2007–2012 Aston Martin DBS
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2009–2012 Aston Martin One-77
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2010–2020 Aston Martin Rapide
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2011–2012 Aston Martin Virage
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2011–2013 Aston Martin Cygnet
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2011–2013 Aston Martin V12 Zagato
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2012–2018 Aston Martin Vanquish
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2016–2023 Aston Martin DB11
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2018–2024 Aston Martin DBS Superleggera
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2021–2024 Aston Martin Valkyrie
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2018– Aston Martin Vantage
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2020– Aston Martin DBX
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2023– Aston Martin DB12
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2024– Aston Martin Vanquish
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Brand expansion
[edit]
Since 2015, Aston Martin has sought to increase its appeal to women as a luxury lifestyle brand.<ref>Template:Cite news</ref> A female advisory panel was established to adapt the design of the cars to the taste of women.<ref>Template:Cite web</ref> In September 2016, a 37-foot-long Aston Martin speedboat was unveiled called the Aston Martin AM37 powerboat.<ref>Template:Cite web</ref> In May 2018, Aston Martin launched a submersible called Project Neptune in partnership with submarine building company Triton Submarines.<ref>Template:Cite web</ref> Aston Martin has collaborated with the luxury clothing company Hackett London to deliver items of clothing.<ref>Template:Cite web</ref> In November 2017, Aston Martin unveiled a special limited edition bicycle after collaborating with bicycle manufacturer Storck.<ref>Template:Cite web</ref>
Aston Martin and global property developer G&G Business Developments constructed a 66-storey luxury condominium tower called Aston Martin Residences at 300 Biscayne Boulevard Way in Miami, Florida, which opened in 2024.<ref name=residences/>
In July 2018, Aston Martin unveiled the Volante Vision Concept, a luxury concept aircraft with vertical take-off and landing capabilities.<ref>Template:Cite web</ref> Also in July, a Lego version of James Bond's DB5 car was put on sale,<ref>Template:Cite web</ref> and an Aston Martin-branded watch was released in collaboration with TAG Heuer.<ref>Template:Cite web</ref>
In October 2018, Aston Martin announced it was opening a design and brand studio in Shanghai.<ref>Template:Cite web</ref>
Motorsport
[edit]
Aston Martin is currently associated with two different racing organisations. The Aston Martin Formula One team which competes in the Formula One Championship and Aston Martin Racing which currently competes in the FIA World Endurance Championship. Both racing organisations use the Aston Martin brand, but are not directly owned by Aston Martin. The Aston Martin Formula One team is owned by major Aston Martin shareholder Lawrence Stroll and operated by his company AMR GP,<ref>Template:Cite web</ref> while Aston Martin Racing is operated by racing company Prodrive as part of an agreement with Aston Martin.<ref name="prodrive"/>
Formula One
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Template:Main Aston Martin participated as a Formula One constructor in Template:F1 and Template:F1 entering six races over the two years but failing to score any points.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In January 2020, it was announced that the Racing Point F1 Team is due to be rebranded as Aston Martin for the 2021 season, as a result of a funding investment led by Racing Point owner Lawrence Stroll.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> As part of the rebrand, the team switched their racing colour of BWT pink to a modern iteration of Aston Martin's British racing green.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> The Aston Martin AMR21 was unveiled in March 2021 and became Aston Martin's first Formula One car after a 61-year absence from the sport.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>
Racing cars (post-war)
[edit]
- Aston Martin DB3 (1950–1953)
- Aston Martin DB3S (1953–1956)
- Aston Martin DBR1 (1956–1959)
- Aston Martin DBR2 (1957–1958)
- Aston Martin DBR3 (1958)
- Aston Martin DBR4 (1959)
- Aston Martin DBR5 (1960)
- Aston Martin DP212 (1962)
- Aston Martin DP214 (1963)
- Aston Martin DP215 (1963)
- Aston Martin RHAM/1 (1976–1979)
- Aston Martin AMR1 (1989)
- Aston Martin AMR2 (never raced)
- Aston Martin DBR9 (2005–2008)
- Aston Martin DBRS9 (2005–2008)
- Aston Martin V8 Vantage N24 (2006–2008)
- Aston Martin V8 Vantage Rally GT (2006–2010)
- Aston Martin V8 Vantage GT2 (2008–2017)
- Aston Martin V8 Vantage GT4 (2008–2018)
- Aston Martin DBR1-2 (2009)
- Aston Martin AMR-One (2011)
- Aston Martin Vantage GTE (2018–2023)
- Aston Martin Vantage DTM (2019)
- Aston Martin Vantage GT3 (2019–)
- Aston Martin Vantage GT4 (2019–)
- Aston Martin AMR21 (2021)
- Aston Martin AMR22 (2022)
- Aston Martin AMR23 (2023)
- Aston Martin AMR24 (2024)
- Aston Martin Valkyrie AMR-LMH (2025)
- Aston Martin AMR25 (2025)
Aston Martin-powered racing cars
[edit]- Cooper-Aston Martin (1963)
- Lola T70-Aston Martin (1967)
- Aston Martin DPLM (1980–1982)
- Nimrod NRA/C2-Aston Martin (1982–1984)
- Aston Martin EMKA C83/1 and C84/1 (1983–1985)
- Cheetah G604-Aston Martin
- Lola B08/60-Aston Martin (2008–2011)
Racecars
[edit]
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24 Hours of Le Mans finishes
[edit]Sponsorships
[edit]Aston Martin sponsors 2. Bundesliga club 1860 Munich.<ref>Template:Cite news</ref>
See also
[edit]- Aston Martin Heritage Trust Museum
- Aston Martin Owners Club
- List of car manufacturers of the United Kingdom
References
[edit]External links
[edit]- Pages with broken file links
- Aston Martin
- 1913 establishments in England
- 2018 initial public offerings
- Automotive companies of England
- British racecar constructors
- British royal warrant holders
- Car brands
- Car manufacturers of the United Kingdom
- Companies based in Warwickshire
- Companies in the FTSE 250 Index
- Companies listed on the London Stock Exchange
- English brands
- Luxury motor vehicle manufacturers
- Motor vehicle manufacturers of England
- Premier Automotive Group
- Sports car manufacturers
- Vehicle manufacturing companies established in 1913