With a potential initial public offering in the coming years, Aston Martin’s chief executive Andy Palmer has said that the British firm doesn’t want to be viewed as a counterpart of Ferrari, but rather the automotive equivalent of Hermes.
While recently speaking with journalists earlier in the week at the marque’s English headquarters, Palmer underlined the importance of Aston Martin being viewed as a luxury company if it is to eventually hit the stock exchange.
Before such a move happens however, Aston Martin is already working on expanding its business. The automaker is looking to return to profit and, to help achieve that, has cut 295 jobs throughout the year. Additionally, due to the limited appeal of sports cars in the Chinese market, it will dramatically widen its model range, starting with the introduction of the DBX crossover by the end of the decade.
After the DBX hits the market, Aston Martin will revive its Lagonda brand, focusing specifically on luxurious models to rival the offerings of Rolls-Royce and Bentley.
Palmer revealed to Bloomberg his intention to introduce a new model or variant every eight to nine months. In 2016 we will see the successor to the DB9, the DB11. Soon after, both the revamped Vantage and Vanquish models will be revealed – and it remains to be seen which models are next in line.
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