Aston Martin Lagonda is
considering its first crossover as the maker of the US$184,000
(S$248,600) DB9 sports car plans to refresh its line-up in the biggest
investment plan in the British marque's history.
Investindustrial SpA, which bought a 37.5 per cent stake in the
British manufacturer in 2012, has pledged the resources to carry out a
growth push that could double Aston Martin's sales to as many as 8,000
vehicles a year from about 4,000 now.
"Aston has an industrial plan which is growing in its ambitions and
we have always planned to participate in all funding needs that Aston
has," Investindustrial chairman Andrea Bonomi said in Milan.
"If Aston needs capital, we're there."
He helped recruit Mr Andy Palmer, the former chief planning officer
at Nissan Motor, to take over as chief executive officer after Aston
Martin went a year without a top executive.
The Gaydon, England-based manufacturer is the only global luxury car
brand that is not part of a larger group. That makes it tricky for
Aston Martin to fund the research and development needed to compete
with Volkswagen AG's Bentley and Fiat Chrysler's Maserati.
Still, Investindustrial has no plans to sell its holding anytime
soon. Mr Bonomi said the investment was made with the intention of
keeping it for seven to 10 years, which would give the brand time to
develop a new generation of vehicles.
More details on Aston Martin's plans will be revealed at the Geneva
motor show in March. There, Mr Palmer "will give a clear indication of
where the brand is going", including the potential for an Aston Martin
sport-utility vehicle, Mr Bonomi said.
"We're at the beginning of the revamp plan."
A crossover could help Aston Martin broaden its appeal in markets
such as China, where models aside from sports cars are in demand, Mr
Bonomi said. Bentley and Maserati are also developing SUVs.
Aside from the Italian private- equity firm, Aston Martin's other
main shareholders are Kuwaiti companies Investment Dar and Adeem
Investment Co.
Daimler AG's Mercedes-Benz has an agreement to acquire a 5 per cent
stake in Aston Martin in exchange for providing the sports-car producer
with components such as engines and automotive electronics.
