Aston Martin battles to reinvent itself

2015-11-27 13:42:38 Click Count: 808

Aston Martin battles to reinvent itself

 Andy Palmer called it the most important speech of his career. Barely six months into his job as chief executive of Aston Martin, he has unveiled a new strategy for the company at the Geneva Motor Show.

Aston Martin may be one of the most famous brands in motoring, but it's been loss-making for decades and has seen sales tumble.
Without a change of direction, the British sports car maker was facing a slow and ignominious demise.
"I don't think the brand would ever disappear. There will always be people who want an Aston as a trophy asset," Mr Palmer said. "But the company itself was looking at long-term distress."
In its 102-year history Aston Martin has only sold 70,000 cars. It's a figure that surprises people, and is testament to the company punching above its weight.
But the ultra-premium car market is becoming crowded. Rivals with deeper pockets - Bentley, Ferrari, Porsche - have new products, and some of the big carmakers are moving outside their traditional core saloon market.
"Aston Martin has always relied on someone stepping in and injecting some more cash and saving it. But that's not the legacy I want to leave," Mr Palmer said.

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