Aston Martin is on a roll lately, thanks to the all-new DB11, Vantage, and DBS Superleggera. The DBX crossover is just around the corner and its all-electric, uber luxury reborn Lagonda brand is also on its way. According to Reuters, Aston Martin CEO Andy Palmer wants to more than double production by 2025. “The rich are getting richer, they want more personalization,” Palmer told Reuters in Abu Dhabi on the sidelines of the Abu Dhabi Grand Prix. “On the other hand, the car industry is getting more and more commoditized because of technology,” he added.
Before the end of this year, the UK carmaker is expected to build a total of 6,400 cars, but Palmer plans to have that figure increased to 14,000 annually by 2025.
Fortunately, things are looking very good financially as well. Just last year did Aston Martin achieve profitability, the first time it did so since 2010, earning a pre-tax profit of $111 million. But what about the general slowdown in key global markets? Is Palmer at all concerned? No, and the numbers prove why: Sales are up 185 percent in the US, 133 percent in the Asia-Pacific region, and 11 percent in China. Speaking of which, Aston Martin does not appear to have any real sales concerns with China, like many other automakers are today for various reasons. “China was slow, but not for us,” Palmer said.
But without question the key to the carmaker’s hopeful sales goals is the DBX crossover, due to debut in late 2019. Palmer says he’s betting on current customers who also own an SUV to trade it in for a DBX. While some industry analysts are predicting a drop in global auto sales due to a number of factors, Aston Martin, according to Palmer, does not have to worry much. Its customers, as Palmer said, are only making more money and are anxious to spend it.
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