Aston Martin SOLD!!!

[SVT666]

The deal is virtually done.  Just the small details are left to hammer out, but Ford is expected to announce the deal.  The buyer is Prodrive.  I think this would be a great deal since Prodrive already build the racing versions of the Astons, and they have been looking for a manufacturer to build their own unique car...the P2.

http://www.leftlanenews.com/reports-aston-martin-likely-sold-to-prodrive.html

[Nethead]

This is great!  Too bad they couldn't have insisted that ProDrive had to buy Jaguar, too!

[Raghavan]

Nice!
Prodrive is a great company.

[nickdrinkwater]

Why are Ford even selling AM?

At least they've found a better buyer than Louis Vuitton.

[Tave]

Why are Ford even selling AM?

At least they've found a better buyer than Louis Vuitton.

My thoughts exactly. I thought Aston was doing fine, especially with the introduction of the AMV8.

Prodrive is the company that races Ferraris, right? At least they'll be serious about the transition and not pull another Russian playboy ala TVR.

[MX793]

Why are Ford even selling AM?

At least they've found a better buyer than Louis Vuitton.

Ford needs the cash.  Of the brands that they could part with, Aston is the only one that anybody would be willing to buy.

[MX793]

My thoughts exactly. I thought Aston was doing fine, especially with the introduction of the AMV8.

Prodrive is the company that races Ferraris, right? At least they'll be serious about the transition and not pull another Russian playboy ala TVR.

Prodrive runs Aston Martin's racing team, so it's a fitting purchase.  They know the brand.

[nickdrinkwater]

I thought AM were one of Ford's only profitable brands.

[The Pirate]

I thought AM were one of Ford's only profitable brands.

Hence the ease of selling it. 

[nickdrinkwater]

Hence the ease of selling it. 

But also asks the question of why they would.

[The Pirate]

But also asks the question of why they would.

My guess is that they will use the cash from the sale to try to revitalize some of their other brands.  Long term, it's certainly better to have 3 or 4 profitable brands than 8 that are just breaking even.

[MX793]

But also asks the question of why they would.

While profitable, it wasn't a large enough brand to make huge sums of money.  It's a small, niche brand like Maserati, not a bread and butter mainstream brand like Ford.  Ford is in pretty dire need of cash.  IIRC, they put a bunch of their production facilities up as collateral for a loan not too long ago.

[SVT666]

While profitable, it wasn't a large enough brand to make huge sums of money.? It's a small, niche brand like Maserati, not a bread and butter mainstream brand like Ford.? Ford is in pretty dire need of cash.? IIRC, they put a bunch of their production facilities up as collateral for a loan not too long ago.

They put every single asset up as collateral including the building their head office is in.  Everything they own is on the line.

[JYODER240]

The only thing that concerns me is the reliebility of future AM cars. They already have issues while under Ford, I can't imagine that things will get better under a small company that builds race cars.

[Submariner]

Hopefully they will invest heavily in AM, or at least know how to build them properly.

[SVT666]

The only thing that concerns me is the reliebility of future AM cars. They already have issues while under Ford, I can't imagine that things will get better under a small company that builds race cars.

Ford will still have a small share in the company so I'm sure they will still supply engines.  I'm also pretty sure that Ford's suppliers will still be there for them.

[FoMoJo]

I'm surprised that Prodrive would have the finances to buy Aston Martin...unless they worked out a very favourable deal with Ford.  My knowledge of Prodrive is pretty skimpy but I know that they've managed the Subaru WRC team for a number of years and Dave Richards, one of the Prodrive founders, was the team manager of BAR/Honda for a couple of years...as well as their involvement with Aston Racing and some minor teams.  Another point of interest as well, is that Prodrive stand a good chance of having an F1 team.  If they actually do acquire Aston, it would be interesting to see whether the Aston Martin name is featured on that team.

If it's true, I hope it works out well for Aston Martin.  It would nice to see a great British marque succeed when owned and operated by an actual British company.

[Raza]

Well, at least Jaguar won't be handcuffed anymore.  Prodrive's a good company, and I see this as a good sign for Aston, unless Prodrive is stretching themselves too far financially.  But I guess since they do loads of racing, they should have plenty of cash.

[sandertheshark]

But also asks the question of why they would.

Because $900 million tomorrow beats $10 million a year.

[S204STi]

That's exciting, I have always loved Prodrive as a company.

[CMan]

Couldn't possibly think of a better buyer for AM than Prodrive.

[r0tor]

i thought i was going to feel sorry for Aston Martin when i first opened this thread... now, I'm excited as hell for them 

[FordSVT]

The only thing that concerns me is the reliebility of future AM cars. They already have issues while under Ford, I can't imagine that things will get better under a small company that builds race cars.

AM is a relatively low-volume manufacturer and reliability data is hard to generate accurately, but having said that they're at least mid-pack in reliability. And, like Jaguar, Aston has improved their reliability dramatically since Ford took them over.
-FordSVT-

[omicron]

This seems fine. Prodrive owns 51% of Ford Performance Vehicles and all of Ford Performance Racing, so it is certainly able to build things with wheels and such.

[SVT666]

This seems fine. Prodrive owns 51% of Ford Performance Vehicles and all of Ford Performance Racing, so it is certainly able to build things with wheels and such.

Really? Wheels and everything? 

Seriously though, I didn't know they held that much interested in those companies.

[omicron]

Really? Wheels and everything?

Seriously though, I didn't know they held that much interested in those companies.

Yes, since mid-2004. Ford Australia holds 49% of FPV, and Prodrive the controlling stake, and they bought the Glenn Seton Racing Team outright and renamed it FPR at the same time.

Both companies seem to be doing quite well at the moment, so they have to be doing something right.

[Nethead]

This all sounds good to the Nethead here!  Hang in there, Aston Martin!

[Raza]

Couldn't possibly think of a better buyer for AM than Prodrive.

I can. 



































But I don't have the money on me right now.

[Nethead]

Aston Martin To Unveil New DBX Supercar? ? ? ? ?from www.rpmplanets.com? ?
Saturday, 24 March 2007 Written by Matt Humphries? ? ?

When Prodrive purchased Aston Martin this month, everyone knew there would be changes made with the company.? However, no one could have predicted the things to come in the near future.? Aston Martin announced they were going to hurry the four door Aston, the Rapide, and the new DBS into production, but they also mentioned the real treat.? The new DBX supercar, aimed at Mercedes' SLR.? ?

The DBX is set to steal some of Mercedes Benz' customers with a planned 700 horsepower V12.? With a top speed of 205 miles per hour, and zero to sixty times of less than 3.7 seconds, the DBX is sure to get people's attention.? Better still, the V12 is set to be put into an all aluminum chassis, and mated to a six speed manual transmission.? Aston Martin feels that the manual gear box will entice more customers, providing a more racy feel.? ?Prodrive, who has done a lot of work on Aston's V8 Vantage, is set to handle the suspension and tuning of the DBX.

The DBX will be priced similarly to the SLR at around 500,000 dollars.? Not cheap, but it is sure to be worth the money.? Aston's new owner also plans to pick up production by 3,000 cars a year, bumping total production to 9,000 cars, by hiring more staff to handle the load.? It seems great things are soon to come from Aston Martin.? Stay tuned to RPM Planets as more news comes out and we start seeing the Rapide and DBX a lot more often.? ?

[SVT666]

Aston Martin To Unveil New DBX Supercar? ? ? ? ?from www.rpmplanets.com? ?
Saturday, 24 March 2007 Written by Matt Humphries? ? ?

When Prodrive purchased Aston Martin this month, everyone knew there would be changes made with the company.? However, no one could have predicted the things to come in the near future.? Aston Martin announced they were going to hurry the four door Aston, the Rapide, and the new DBS into production, but they also mentioned the real treat.? The new DBX supercar, aimed at Mercedes' SLR.? ?

The DBX is set to steal some of Mercedes Benz' customers with a planned 700 horsepower V12.? With a top speed of 205 miles per hour, and zero to sixty times of less than 3.7 seconds, the DBX is sure to get people's attention.? Better still, the V12 is set to be put into an all aluminum chassis, and mated to a six speed manual transmission.? Aston Martin feels that the manual gear box will entice more customers, providing a more racy feel.? ?Prodrive, who has done a lot of work on Aston's V8 Vantage, is set to handle the suspension and tuning of the DBX.

The DBX will be priced similarly to the SLR at around 500,000 dollars.? Not cheap, but it is sure to be worth the money.? Aston's new owner also plans to pick up production by 3,000 cars a year, bumping total production to 9,000 cars, by hiring more staff to handle the load.? It seems great things are soon to come from Aston Martin.? Stay tuned to RPM Planets as more news comes out and we start seeing the Rapide and DBX a lot more often.? ?

I like the sound of things to come.