Filed under: Sports/GTs, Aston Martin, Ford, Earnings/Financials
Motor Trend: Aston Martin sold, but maybe not to LVMH
Motor Trend is disputing yesterday's published reports that Brit luxury/sports car manufacturer Aston Martin will be sold to Louis Vuitton. According to MT, which cites "well-placed" UK sources, Aston's bags are packed and ready to leave Ford, but they do not have that iconic "LV" logo on them. Apparently the buyer is a group of high-finance types we've never heard of. They're set to pony up around $1 billion for the storied automaker.
The sale is said to include the factory, and Ford is still expected to retain a stake in the company. Motor Trend can't resist needling Autobild and the blogosphere for
UPDATE: MT has updated their post to reference the Marketwatch story that many outlets (including Autoblog) picked up on and reported.
UPDATE 2: LVMH has dismissed reports that it is the buyer for Aston Martin as "pure rubbish."
[Source: Motor Trend]
_opt_thumbnail.jpg)
Reader Comments (Page 1 of 1)
Howard Kerr 7:33PM (2/02/2007)
And we ALL know how authoritative MT is when it comes to anything automotive.
MT...the auto mag equivalent of People magazine. In other words, the LAST place to go for breaking news.
Reply
DJ 9:04PM (2/02/2007)
As I posted last night, it simply isn't conceivable that a buyer could be named yet, especially since bidding just concluded. Number one, it's going to take several weeks to compare and contrast the bids. Number two, all of the bids are going to have varying conditions, ie; amount of debt involved, cash vs stock, etc.. Number three and most important of all, the Ford Board of Directors hasn't even scheduled a date to meet to select a winning bidder. The MT report is just as baseless as the Autobild one.
Reply
Danny Cheung 9:28PM (2/02/2007)
one billion dollar?!
visit :
http://www.geocities.com/vaiowallpaper/
Reply
Taylor Alexander 12:43AM (2/03/2007)
EDIT: Actually, their bags DO have the LV logo on them, but only because they wouldn't be caught dead with anything less. That doesn't mean, however, that LV has bought them, it's simply proof that Aston Martin has good fashion sense.
*hehe*
-Taylor
Reply
Vinny 11:12AM (2/03/2007)
One manufacturer for whom picking up the brand would really make sense is Volkswagen. It would slot right in between Audi and Bentley. They have shown their expertise in sharing components and technology to bring economies of scale without eroding brand value of the different luxury marques. For people arguing that Aston is a rival brand to Porsche (atleast at the lower end Vantage Vs 911), These two may be bought by individuals with similar profiles but they have almost opposite tastes.
Reply
Chris 4:46PM (2/03/2007)
yea... Aston would fit great between Audi and Bentley, aside from the fact that Lambo is already there. I know that Aston is more of a GT than Lambo, but they still compete so it wouldnt be the most ideal investment. On top of that VAG is probably one of the last groups that should be picking up another high end marque. They have Audi, Lambo, Bentley and Bugatti. Plus Porsche owns a stake in them and is already upset with how much cash Bugatti requires.
Reply
Vincent e naso 10:42AM (2/04/2007)
check out www.carscompete.com it has real cool stuff on it very informative great site they add new and cool content daily check it out there is even a section just for women car buyers . you can even check for recalls .its a pretty cool check it out.
Reply