JustBritish

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 Frankfurt auto show, Bez said he would hope the Lagonda brand would duplicate the success of the sports car maker’s other models, which sold just 600 in 2000 when he took over — almost all in the UK.

“Just as we have revived Aston Martin over the past 10 years, we could do the same with Lagonda. But we would need investors to finance it since we cannot, using just our own cashflow,” he said. “They do not necessarily need to own shares in Aston Martin directly, they could provide funding as limited partners, so a finance investor would be preferable.”

Provided there is a win-win situation for Aston and German carmaker Daimler, the Lagonda could be built using the same architecture as the Mercedes-Benz GL full-size SUV.

When asked about Aston’s international expansion plans, Bez said the company was focused on breaking into the Chinese luxury sports car market, where he expects sales could match those of its domestic UK market almost overnight.

“Two months ago we received the import license we need to officially export cars to China,” he said. “By the end of next year we plan to have 12-15 dealers selling about 1,000 cars, which will constitute about 20 percent of the roughly 5,000 we expect to sell worldwide that year.”

Bez wants a diversified geographical footprint, with a fifth of the sales in China, a fifth in the UK, a fifth in the rest of Europe and a fifth in North America.

Come next year, Aston’s Rapide will also become a genuine “Made in the UK” car, when production of the sleek four-door is moved to Gaydon, central England, from Magna’s MGa.TO Steyr facility in Graz, Austria. “We’ve massively increased the efficiency of Gaydon, especially in the paint shop,” he explained.

Also known for is DBS Volante cabrio and the extravagantly expensive One-77, Aston Martin premiered the V12 Zagato — retailing at 330,000 pounds before tax — at the Frankfurt show.

There was a lot of eye rolling and worried looks when Ford sold Jaguar to India’s Tata. But based on the latest December figures, maybe there wasn’t reason to worry.

Jaguar sold 1,246 cars in December in the U.S., a 24% increase from last year. Land Rover sold 3,595 of its rugged SUVs, a 37% boost from a year ago. For the full year, combined sales of both brands dipped 14%, not bad considering how the overall auto industry saw sales plunge even more. Needless to say, execs are happy:

“Three consecutive months of Jaguar and Land Rover growth is a great way to end 2009, and a sign of better times to come,” said Jaguar-Land Rover North America President Gary Temple. “We start 2010 with sales momentum, strong product lineups for both brands, and the launch of the 2011 Jaguar XJ on its way. It is going to be a very exciting year.”

Jaguar and Land Rover are owned by a company now best known as the maker of the world’s cheapest car, the $2,500 Nano that plies the rough roads of India. Many were unsure what would happen to the storied British brands in the hands of a third-world automaker. But Tata looks like it’s succeeding — so far.

This isn’t exactly British car news, but Swedish car maker Volvo is heading into Chinese hands, after owner Ford announced that Geely is in pole position to buy the struggling manufacturer.

Following in the footsteps of MG Rover’s sale to Shanghai Automotive and Nanjing Automobile, the potential deal marks the latest move by a fast-expanding Chinese car maker to boost its presence in Europe.

Negotiations have been ongoing for some time, and it is understood Ford was only willing to enter into discussions once it had evaluated the firm’s Chinese operations. Now the green light has been given, the future of Volvo and the launch of promising upcoming models such as the S60 should be secure.

The move will also benefit Geely. Volvo’s research and development expertise and engineering skills will be a huge bonus, as its main interests are in improved quality and safety.

Geely is the largest privately owned car company in China, and has grown at an astonishing rate since making its first passenger car in August 1998. In 1999 it built 2,000 vehicles; in 2009 production should hit 300,000.

Whereas rival Chinese car makers tend to buy licenses and import technology, Geely has developed its own engines and is the only Chinese firm with its own automatic transmissions.

I’ve always loved sports cars. I think I got the bug back when I was a young kid growing up in the Richmond district of San Francisco. This was in the 1950s when they would have sports car races through Golden Gate Park. My dad would take me to these sanctioned races, which were held on weekends. I especially remember the MG TDs, Porsches and Allards. But by far the most impressive to me were the Jaguar XK120s, which were the hottest cars out there.

As I grew older and started driving, I was drawn to European sports cars. The first two that I owned were used Triumphs, which were all that I could afford at the time. What I really lusted after, though, was one of the Jaguar XK120s that I had fallen in love with at Golden Gate Park. But Jags were too expensive for my wallet at the time. Besides that, they had a reputation for mechanical failure and were expensive to fix. As I got older my attraction to sports cars remained strong but switched from British to German. During my thirties and forties I owned a BMW and two Porsches. These were relatively expensive cars that would have been out of my league if I had purchased them new from a dealer.

About five years ago I started getting a hankering for something different. I still enjoyed the sports car experience, but this time I wanted something a little bit more refined, smoother, quieter and easier to drive. My research showed me that a Jaguar XK8 might meet my needs. In the late 1980s Jaguar was purchased by Ford Motor company, and they totally redeveloped the line. They got rid of the old mechanical elements that were so unreliable and difficult to maintain, but the kept the traditional looks of the old Jaguar line in retro form. The XK8 is similar in appearance to the Jaguar XKEs of the 1960s and ’70s, which in turn were an evolution of the original XK120s. The interior, although much more refined than its predecessors, still bears the signature burl wood dash of the old XKs that I first saw in Golden Gate Park 50 years ago.

One of the interesting things about the XK8 is that it was the first eight-cylinder production car ever made by Jaguar. Although V8s were a mainstay of most U.S. manufacturers for decades, Jags had always sported six, 10 and 12 cylinders; this model was really a departure for the company. It was also one of the first brand-new models developed under Ford’s ownership regime, so perhaps it has a bit of Detroit under the hood.

To me the lines of the XK8 are beautiful, the engine is quiet but powerful and the handling is tight. The ergonomics make every thing smooth and easy. When you open and close the doors they automatically crack open slightly because the fit is so tight. The top is fully automatic and goes up and down in seconds. These are some of the niceties of upper-level vehicles whose costs are often prohibitive.

This car cost around $75,000 when it was new in 1999, and I bought it in 2004 with 20,000 miles on it for $30,000 and it was in excellent condition. This is a big savings for a car with such low mileage. I have often thought about why the car was so inexpensive, and it is probably due to Jaguar’s poor reputation during the 20 or so years prior to Ford’s buyout. I’ve owned the car for almost five years and have had no major problems. I’m totally happy with it and will probably keep for a long time. Its well sculptured lines give it a unique look. It is as reliable as any other brand in its class. I think it was – and still is – a steal of a deal.

From San Francisco Chronicle. Cal Tabucchi, 66, taught junior high school in Los Gatos for 28 years and sold real estate for the next 10 years. He recently retired and currently lives in Aptos.

The opening round of the Dunlop/Gambia MSA British Historic Rally Championship has attracted a sensational 83-car field to the Bulldog Historic Rally (Saturday 28 March).

Three former British champions and four former British historic champions are all in the entry for the event that tackles 50 miles of prime Welsh forest roads in just four special stages. It promises to be a fabulous start to the 2009 season.

Category 1
Category one is for the oldest cars, from the pre ’68 era, and they run first on the road with a short gap before the rest of the historic field. Top of the tree is the Porsche 911 of former champions Dessie Nutt/Geraldine McBride, but they can expect a stern challenge from the similar car of team mates Stuart Rolt/Richard Pomfret, making a rare but welcome BHRC appearance.

Lining up against the Porsches will be the former championship winning Sunbeam Tiger, now in the hands of Jonathan Gale, who is co-driven by his father Graham for his debut rally in the ex-Patrick Watts car. Meanwhile, Russell Brookes, a winner of this rally 20 years ago, is having a one-off run in the Porsche 911 of Steve Perez, with Neil Wilson alongside.

Local driver Gwilym Roberts heads the B4 field in his Lotus Cortina, partnered by Gwawr Hughes, but the amazing Volvo Amazon of Graham Waite/Gill Cotton will be hustled through the forests in fine style. James Stait heads the B2 pack in his MG Midget, while local crew Gary and Jane Edgington from Corwen top the B1 field in their wonderful Singer Chamois.

Category 2
In category two, for the post-historic cars, it is Ford Escort Mk1s against Porsche 911s at the head of the category. In the Escort brigade, BHRC debutant David Higgins, partnered by Ieuan Thomas, should really fly in one of Mark Solloway’s Mk1 Escorts. David Stokes and Guy Weaver have already scored two great results this season in warm-up events, so they will be fully match fit. But with rivalry from Rupert Lomax/David Alcock and Rikki Proffitt/Phill Harrison, it will be very hard fought. Also in C5 is the beautiful Lancia Stratos of Steve Perez/Paul Spooner.

Jeremy Easson has switched to his stunning Ford Capri RS3100 and will be a real crowd favourite, but goes up against at least five Porsche 911s in class C4. Tim Mason/Graham Wild and Andrew Haddon/Mark Crisp are established pacesetters, while the newly completed 911 of Peter Smith/Russ Langthorne could also be a major contender.
Read the rest of this entry »

Ford Motor Co.’s Bennie Fowler cheered last week when Jaguar finished in a tie for No. 1 on J.D. Power and Associates’ long-term vehicle dependability study.

“I happen to know the guy who was the COO at Jaguar in 2003 when we started making improvements,” said Fowler, who was, indeed, COO of Jaguar in 2003.

Today, Fowler is Ford’s group vice president of quality. Back then, Fowler and a team of executives put Ford processes in place at Jaguar to improve quality. Ford sold Jaguar and Land Rover to Tata Group in 2008, but J.D. Power’s dependability study evaluates three-year old, or 2006, models.

From Freep.com