Aston Martin makes a profit!
For the first time in forty years (!), Aston Martin has booked a profit, although theFord Premier Automotive Group to which it belongs lost about $100 million in 2005.Chief executive Dr. Ulrich Bez (smiling at right) attributes the company's good news to a global boom in millionaires, with about 70 percent of Aston Martins sold outside the U.K. Only five years ago, 80 percent of the marque's production was sold in England.
Bez, formerly with Porsche, says that Aston Martin has created its own market niche, appealing to wealthy buyers who want performance and exclusivity, but with "English understatement."
[Source: The Times]
Reader Comments (Page 1 of 1)
ZoomZoomin' 1:34PM (7/04/2006)
That must be the secret to my lack of progress as well. I missed the millionaire boom and so now I'm missing the housing boom.
Now if only the PAG can turn around Jaguar without the Aston designer they brought over "borrowing" so much from Aston's designs. I wouldn't want to see the Jagstons start cannabalizing Aston sales and then they'll both be floating in the financial toilet again.
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Noah 2:06PM (7/04/2006)
Gosh, perhaps it's because they make freaking hot cars.
--Noah
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Noah 2:07PM (7/04/2006)
Now if only Jag could add a little grace and perhaps a V12 or two back into their lineup.
--Noah
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John Mudd 3:14PM (7/04/2006)
They certainly do make some of the finest automobiles in existence. I was actually surprised when I read that they had not made a profit in nearly 40 years.
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retsel 3:20PM (7/04/2006)
jaguar needs a SUV, a cross over, a converabe version of the x-type and an x-type R....
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Harry 8:55PM (7/04/2006)
Profits are nice but Ford's product planning stinks. I know AM has a four door "coupe" coming soon to compete in its market niche, but they should have already had a new Lagonda based on the Jag XJ lwb chassis in production.
The XJ sells like crap and the plant is underutilized. A Lagonda would be a nice sell in the near ultra luxury sales pont of 125k and up. An update of the styling last seen on the old Lagonda would have made the car distictive in this niche as well.
Honestly, Ford really has no clue with regard to product planning.
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Craig 11:10PM (7/04/2006)
I didn't know that Steve Martin's dad ran AM.
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Steve 1:10AM (7/05/2006)
It really appeals to rich people who like pretty things, and that's a big niche.
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Bulgarian Property 8:00PM (9/04/2006)
I didn't knew that AM didn't make profit till now
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Real Estates Bulgaria 11:37AM (12/28/2006)
bad investment at all!
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