Aston Martin stunned the world last June by revealing the Cygnet super-mini concept that is based on the Toyota iQ. Then the British sports car maker that is fondly associated with mouth watering sports cars announced that the Cygnet will go into production and that the development of the super-mini will continue into 2010. Slated for a market launch late this year or by early 2011, the Cygnet is expected to be sold to owners of Aston Martin’s full-sized sports cars and only 2,000 units are planned.
Classic Cars
Phil Wicks Driving Academy at Brainerd International Raceway June 27-28
It is only three weeks away — the biggest celebration of the 50 years of the Mini/MINI — MINI East Meets West. The Phil Wicks Driving Academy will hold an event at Brainerd International Raceway on Saturday and Sunday, June 27-28. The days will consist of driving academy — all makes and models of cars — with instruction in classroom and on-track for Novice, Intermediate, and Expert; North American Can/Am Challenge races (classic Minis); Vintage car races — all makes and models; and North American MINI Cooper Challenge Time Trials. There will be a dutch treat banquet and awards presentation in the clubhouse at Brainerd on Saturday evening. All are invited to attend. Fees for the driving academy are $300 for one day, $500 for two days. And there will be lunch-time touring laps for non-participants for a fee of […]
Aston Martin
Aston Martin Still Contemplating IPO
The revival of the IPO market, when it comes, will give James Bond fans a chance to own a slice of British luxury car maker Aston Martin and could generate enough funds for the group to revive its famous Lagonda brand. “It’s clear that at some point investors holding equity in an independent company need to devise an exit, and this exit is an IPO that we will do when the time is right,” Chief Executive Ulrich Bez told Reuters on Tuesday. “Aston Martin is working on achieving a valuation comparable to a luxury goods maker.” Ford Motor Co (F.N) sold Aston Martin for 479 million pounds ($756 million) in March 2007, to a consortium led by David Richards — former Formula 1 Benetton and BAR racing boss — as well as two Kuwaiti funds. In an interview at the […]
Aston Martin
Aston Martin Not For Sale
Consortium leader Dave Richards is quashing speculation that luxury sports car maker Aston Martin is for sale. “The company is not for sale,” Richards insisted during the Nurburgring 24-hour race last weekend, where Aston’s N24 Vantages finished 1-2-3 in their class. “This speculation is only there because we are talking to people all the time about engines,” Richards said. “But we are always talking to people, and it doesn’t mean we’re for sale.” Richard led a partnership that included two Middle East investment firms to take over Aston Martin from Ford Motor Co. last year. Since then rumors have circulated that the Prodrive boss and his investors would be happy to turn a quick dollar. But Richards’ denial is his most emphatic statement yet about Aston’s long-term future. The company’s future engine supply is less certain, though. Aston’s V8s are […]