SHARE THIS ARTICLE

Since the 2015 New York Auto Show, I've been keeping a somewhat close eye on Aston Martin's CEO, Andy Palmer.

From the press I've seen him do as well as the interviews I've read, I have to say I am starting to like the guy.

From what I can tell, he is a pretty straight shooter. In the automotive business, that's not exactly common. Some of these guys are straight up snake oil salesmen.

In a new interview with Auto Express though, Palmer explains exactly why Aston is going to be seeking super luxury sport-utility vehicle customers. Essentially, it's part of a three-part plan.

Phase one is called Stabilization. This is where the likes of the Vantage, DB9 and Vanquish get new lives.

Phase two is Core Strengthening. Not sure what the aim of this initiative is as it was not elaborated on.

Phase three is Portfolio Expansion. As you'd expect, this is where the DBX will see the light of day. Don't expect it to happen any time soon though. According to reports, the DBX isn't due until 2019, which is eons away.

While you may think it's against Aston's ethos to build an SUV, not only is everyone else doing it but as the CEO points out in a quote below, in a scramble to keep cash flow coming in there is no other way. If the company didn't build one it would be harmful as it would lose market share — an opportunity cost.


**To read the FULL piece, click "Read Article" below!



...Ultimately, diversifying the product range is all about securing the long-term financial future of the company. “Ferrari uses merchandise, but our way out is the DBX,” said Palmer. “You can’t create enough working capital with just 7,000 cars a year whichever way you look at it. You’ve got to extend the portfolio somewhere, and I’d rather do this than sell caps and t-shirts..."

...“We didn’t bring back the Lagonda brand to let it die for another forty years,” said Palmer. “It will never be huge volumes, but I can certainly imagine something in that chauffeur-driven space.”



Read Article


Aston Martin's CEO, Andy Palmer, Explains The DBX, WHY Aston Is Going To Build It, And Takes A Crack At Ferrari

About the Author

Agent00R

User Comments

mre30

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]