New Factories Abroad and Dealerships in the States Point to Growth Hopes for Aston Martin
The automotive industry has been booming with signs of a growing economy in the United States and production needs around the world. Aston Martin is hoping to capitalize on this by investing heavily into growth, something they’ve been shy about in the past.
The British exotic car manufacturer has been known to play their cards close to the vest, particularly when the strategy was working during their record year of 2007. The economic crunch and improved competition by better-funded brands like Maserati have forced their hand. They either need to cut costs dramatically or increase sales in order to maintain their status as an independent manufacturer. Nearly all of their exotic competitors have been swallowed up by larger companies over the decades.
As a sign of their commitment to growth, they are preparing to launch a new manufacturing facility in Gaydon, Warwickshire, in the UK. There, they will create a new chassis and pilot build facility as well as new offices and storage for parts and logistics equipment. On the sales front, they are opening a new dealership in Summit, New Jersey, in the USA.
With stiff competition and increased production from their exotic competitors as well as a push by many luxury brands to have more offerings in the 6-digit dollar range, Aston Martin will likely need to lead through technology as well as strategy.