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Aston finds a good home - cardriver
I see on the BBC business news Ford has finally sold Aston Martin to a UK consortium headed by Dave Richards. Time will tell, but my view is that it will be in safe hands with Dave Richards who currently heads up Pro-drive.
I also understand he is looking at forming an F1 team - I wonder if we will see the Aston badge dressing the front of an F1 car in 2008.
Whilst I am no expert in company valuations I did think it went cheaply at £470M - but I'm sure Ford would have got every last penny they could have.
Aston finds a good home - Falkirk Bairn
Ford retaining a small stake in the new company - less than 10%

Ford need to cash to stem the "blood losses in the USA"
Aston finds a good home - jc2
Ford have not sold it completely and Pro-drive is expecting to still use Ford components.
Aston finds a good home - Hamsafar
news.bbc.co.uk/1/hi/business/6442101.stm

Hurrah! I would buy one to support this, but too many reasons I can't - all of them pounds :o(
Aston finds a good home - CJay{P}
If Aston Martin is making money, why sell?

{post edited, and merged with discussion already in progress. DD}
on finds a good home - nick
How much a year though? Is it more than the interest payments they'll save by repaying £450m in debt?
Aston finds a good home - Soupytwist
"If Aston Martin is making money, why sell?"

Indeed - the fact Aston makes money completely escaped the attention of the researchers on Radio 4's PM programme on Monday evening. They had an interview with Dave Richards who was asked by the presenter what made him think that he could turn Aston round and no indication of why Ford decided to sell. It was almost as though they saw the words "British car company" and assumed that it was in so much trouble that its foreign owners couldn't wait to stop propping it up.
--
Soupytwist !
Aston finds a good home - henry k
... but my view is that it will be in safe hands with Dave Richards who currently heads up Pro-drive.

news.bbc.co.uk/1/hi/wales/6442901.stm
Aston finds a good home - cardriver
Sorry if I missed the point henry - but reading that link validates my point about the company in safe hands - were you dis-agreeing with this ?
Aston finds a good home - henry k
I am with you.
I was just providing a link to support the view that a true motor man is in place.
Aston finds a good home - Mad Maxy
Aston Martn: profitable for Ford but not core business and therefore a distraction, which means the main business suffers - and Ford have got BIG problems elsewhere, especially in the US (just like the other big US-based car makers. And for them nearly half a billion is better in cash than tied up in a business. Cheap price? Well, it's a buyer's market. Small, niche car companies aren't that attractive because they are high risk given the uncertainties of legislation and climate change issues, the relative cost of product development and the issues of component sourcing/seeking scale economies. And they're serving a fickle market.

Such a business would only be attractive to a bunch of enthusiasts. Of course, VAG own Bentley, Lambo and Bugatti; M-B RR (and Maybach); Fiat Ferrari and Maserati. But they are coroprate ego trips started by comanies that could afford to do it at the time. (Glad they did; otherwise some of those older-established brands wouldn't be with us now.)
Aston finds a good home - Red Baron
Aston will have to start manufacturing cars that are more affordable. The Kuwaiti? backers of Dave Richards do not have bottomless pockets regardless of their intentions at the outset. They will not want to be associated with a venture that simply coasts along. I hope that they don't get delusions of grandeur by going down the F1 route as this could wreck the brand image. Le Mans would be enough challenge for them. After all, look what happened to Jaguar in F1.
Aston finds a good home - henry k
Aston will have to start manufacturing cars that are more affordable.
..... backers of Dave Richards do not have bottomless pockets regardless of their intentions at the outset.


Oh dear -
news.bbc.co.uk/1/hi/england/coventry_warwickshire/...m
Aston finds a good home - cardriver
Cheers henry - I thought I was being thick and could not follow your post but understand now.
Aston finds a good home - cardriver
Looks like I was wrong about the f1 team link.

news.bbc.co.uk/sport1/hi/motorsport/formula_one/64...m
Aston finds a good home - track
I foresee a serious contender in the touring cars from aston very soon. Prodrive has a very solid background in making serious cars and for me at the momemt touring cars are where the focus should be. With F1 regs tightening more and more its becoming less and less about manufacturers and more about whos pockets are deepest and can buy the best drivers. Touring cars on the other hand have great potential for pro drive to show on an international level just how good they are with the car trickery.

plus, its great to see a true british legend back in british ownership (almost)