By Ronan Glon , Autoblog Aston Martin's V12-powered Vanquish won't receive a second lease on life after all. The British company ...
By Ronan Glon, Autoblog
Aston Martin's V12-powered Vanquish won't receive a second lease on life after all. The British company confirmed the deal to sell the sports car's tooling and design drawings to another automaker has collapsed, leaving it with a not-insignificant $24 million hole in its earnings report.
The talks seemingly fell apart at the last minute, according to Automotive News Europe. In 2018, initial public offering (IPO) documents released by Aston Martin claimed an anonymous company jumped at the opportunity to purchase the rights to build and sell the second-generation Vanquish (pictured) introduced in 2012. It wasn't difficult to see why. While it was becoming outdated by modern supercar standards, it still commanded a healthy dose of respect thanks to a sonorous V12 engine tuned to deliver 600 horsepower and a relatively light body made out of carbon fiber. To sweeten the deal, the buyer should have also received a year and a half's worth of technical support from Aston Martin Consulting to ensure a smooth launch.
While Aston Martin never disclosed the buyer's identity, widespread rumors, reports, and rumblings pointed to an unknown company based in China. If that's the case, tightening emissions regulations that promise to make selling a 12-cylinder car in the world's largest new car market a difficult and expensive endeavor may have played a role in the deal's collapse.
Like we reported in 2018, other plausible suitors included aftermarket tuners such as Mansory looking to make the leap from car modifier to car builder, and coachbuilders like Zagato seeking a turn-key platform to drop a body over. Aston Martin hasn't revealed if it plans to continue looking for a buyer, or if it will send the second-generation Vanquish to the pantheon of automotive history once and for all. Contacted by Autoblog, an Aston Martin spokesperson refused to comment on the deal's collapse, or talk about what's next.
Aston Martin's $24 million loss comes in the wake of disappointing second-quarter results. The company slashed its 2019 sales forecast from about 7,200 to 6,500 cars, and it reduced its investment plans by nearly $50 million to offset rising costs. Executives hope the DBX, the first Aston-branded crossover, will turn around the company's fortunes when it goes on sale later in 2019.
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