Aston Martin is one of the world’s most recognizable brands, but since the mid-2000’s, the exclusive luxury sports car manufacturer has posted lackluster sales figures. That just changed.
2017 marked a milestone year for Britain’s darling auto manufacturer. Aston Martin Holdings (UK) Ltd. posted a record year, breaking the 5,000 unit mark for the first time since 2008 – 5,117 to be exact, which marks a 58% increase over 2016.
As for the revenue produced last year, Aston leaped over 2016’s $244 million pre-tax earnings posting a record $1.1 billion in pre-tax revenue. President and CEO, Dr. Andy Palmer, predicted this large-scale success way back in 2016 with the announcement of the “Second Century Plan” and the debut of the highly anticipated DB11. Aston managed to follow Dr. Palmer’s initiative, selling out of their halo sports car in coupe form. As for the V8 and Volante variations, both exceeded expected order numbers.
The success isn’t limited to one model though. The Vantage GT8 and Vanquish S also saw increases in orders placed, with the most surprising rise coming from Aston’s boutique branch Zagato. They nearly doubled their original projections with the Vanquish Zagato variations.
Dr. Andy Palmer plans to continue the trend stating, “Phase Two of the program will be largely completed in 2018 with the introduction of the Vanquish replacement and production of the new Vantage, contributing to continued sustainable profitability at Aston Martin.”
That Second Century Plan is crucial to a brand who has stood on the brink of bankruptcy multiple times in its 115-year history. Palmer has said that the development of four of the seven new models has already been paid for, thanks to eager investors. A momentous partnership with Daimler-Mercedes, who now owns five percent of Aston Martin, will provide electrical architecture and a V8 engine variation in the DB11 and the new Vantage.
Palmer also eluded to the production of two sedans that will likely share the same hybrid powertrain as the upcoming SUV. “To me, hybridization is as inevitable as death and taxes and it makes sense in the SUVs and sedans.” Both sedans will sport the famous Lagonda badge with one being set to compete on the Mercedes-Benz Maybach S600 level. The second will slot just beneath it, in terms of size.
With investors eager to see where Dr. Palmer will take the storied brand, and with a strong development plan in place, Aston Martin is on track for another record-breaking sales year in 2018.