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Aston Martin eyes US market for growth

Aston Martin chief executive Andy Palmer is sitting in a rustic Tuscan villa on a sweltering summer night, but his mind is thousands of miles away. He's ruminating on the United States, a lucrative market that could secure Aston's future as an automaker that has proved elusive for decades. The reason? Aston has an identity crisis. Sure, Americans know what Aston Martin is. Mostly. Palmer compares it to the British game of cricket. Many Americans have heard of it. They might even have a vague notion of what it is, but that's about as far as things go. It's the same with Aston. Candidly, Palmer places the blame squarely on his company, admitting Aston executives have been complacent about America. "We've got some work to do in the United States. I think we have assumed that you guys get it because you speak our language," he told a group of mostly US journalists at the launch of the 2017 DB11. That ends now, Palmer said, and Aston's plan to fix the problem will come into sharper focus with the launch of the DBX crossover for 2019. The utility vehicle was designed for an American buyer because the US market is SUV heavy. The target consumer? Someone named Charlotte, a 42-year-old from Southern California. Palmer describes her as someone who wants an elevated ride height and functionality. "She's looking for that safe, secure feeling," Palmer said. The company is adding 750 people and building a factory in Wales to produce the DBX. The site will be able to make 7,000 units annually, which dovetails with Aston's goal of making 7,000 sports cars per year. It's an ambitious plan for a company that made 3,615 cars in 2015 and posted an operating loss. This potential growth is still a few years off, meaning the brand's new DB11 must be a success. Early signs are trending well, and Aston had taken 2,000 orders by the end of June. After that, the company will redesign the Vanquish and Vantage and add the usual open-top variants. Aston's investors have already funded the sports cars and the DBX, and product development spending rose 40 percent in 2015. Aston's ownership group includes a Kuwaiti consortium, Italian backers, and a minority stake held by Daimler, which provides technology like infotainment and V8 engines. In total, Aston plans seven new vehicles in six years.

Cash influx could help Aston Martin double sales

Aston Martin is on the verge of a major product overhaul – complete with new architecture and powertrains. And good thing, considering that the Vantage and DB9 are each about a decade old. But to make it all happen, the British automaker is going to need a massive capital influx. Fortunately, that's just what it got when Investindustrial came on board. The Italian private equity fund, which previously owned a large chunk of Ducati and is now building a Ferrari theme park in Spain, bought a 37.5 percent stake in Aston Martin back in 2012. The acquisition reportedly cost Investindustrial the better part of a quarter billion dollars, but that's not the end of the firm's investment in Aston. According to Bloomberg, Investindustrial is now pouring even more into the Gaydon-based marque to help fund its product blitz. The output of that investment is expected to be announced at the upcoming Geneva Motor Show. That's where Aston's new chief executive Andy Palmer (whom Investindustrial reportedly helped poach from Nissan) is tipped to announce the company's new product plan that is earmarked to help double the company's sales from around 4,000 units last year to as many as 8,000 once those new products reach the market. The plan will assuredly include replacements for Aston's trademark luxury GTs, but could also encompass a new crossover utility vehicle to give it a greater foothold in growing markets like China while taking on similar new products from key rivals like Bentley and Maserati. While those two competitors are owned by larger auto groups – Volkswagen and Fiat Chrysler, respectively – Aston is independent. It's brokered a deal with Mercedes (thanks once again in no small part to Investindustrial) to help with components it can't effectively develop in-house, but the cash injection will be critical to the brand's revival plans.

Weekly Recap: Aston Martin to add another sports car, new Lagonda sedan, EVs

Aston Martin will revamp and expand its lineup as part of a five-year plan laid out by the company's new executives. If it succeeds, the strategy will position Aston for growth as an independent automaker with a more stable future in its second century. Aston will replace all of the cars in its current lineup and add a fourth sports car to its stable. It currently has three: the DB9, Vanquish and Vantage. The unnamed sports car will be joined by a production version of the DBX concept – an all-wheel-drive electric car that treads near crossover territory – that was revealed at the Geneva Motor Show. Aston's electric strategy also includes a potential electric-powered Rapide. Eventually, Aston plans to build a new four-door Lagonda. Though Aston will diversify its portfolio and the range could expand to seven vehicles, it will limit production to around 7,000 units annually, said Aston Martin marketing and communications director Simon Sproule, who described the company's strategy in an interview with Autoblog. CEO Andy Palmer, who joined Aston last year from Infiniti, has also spoken recently about remaking the company for the future. EVs are a major part of Aston's future, Sproule stressed, because they allow the automaker to "balance" its portfolio. Aston is studying the feasibility of an electric Rapide and is working with an undisclosed engineering firm. It's likely to use a plug-in setup and would cost $200,000 to $250,000 or more. It could use either a rear-wheel or all-wheel-drive configuration. View 14 Photos "It's a study, but we're serious about it," Sproule said. He added for emphasis: "If not this, there will be an electric Aston Martin in the future." Aston has taken note of what Tesla has done with the brisk-driving Model S and decided that's the dynamic it wants for some of its own cars. Even though EVs don't emit the same sonorous note as a V12 – they're better than the alternative, Sproule said. "The sound of silence is much more preferable than the sound of a four-cylinder whining away under the hood of an Aston Martin," he said. Speaking of V12s, they're not going away. Aston will continue to make its own V12 engine, but will source its V8 from Mercedes-AMG (whose parent, Daimler, owns a small stake in Aston). While the V12 is sure to please the faithful, Aston admits EVs and the crossover-like DBX will rankle many. Sproule argues those are the moves that will keep Aston relevant.