Aston Martin has been experiencing a difficult time lately which is really starting to tarnish the iconic luxury brand even with the $663 million cash investment from Canadian billionaire Lawrence Stroll. Basically, the British carmaker has too many liabilities. The series of unfortunate events are a far cry from the elegance and fun synonymous with the James Bond movies and popular Rick Ross song.
Aston Martin is still hoping that the 2020 DBX SUV will be its saving grace, but critics are not loving it and today’s global economy doesn’t support new sales either. In a fight for survival, the carmaker’s new business strategy is to become the “British Ferrari.”
The British Ferrari?
CEO Andy Palmer shared that by shifting their current business model to that of Ferrari’s, it will help to tremendously boost Aston Martin’s sales and perception. This means making fewer models at wholesale which will help them make the brand posher. Fortunately, Aston Martin’s investor Lawrence Stroll has experience as a Ferrari importer which they hope will help them achieve their new business objectives.
To execute their new business plan, Aston Martin is working to rid its shelves of wholesale vehicles then the company will prioritize made-to-order ones. Last year, the company made 5,800 vehicles and was already planning to make less in 2020 before the coronavirus outbreak intensified.
The DBX SUV also remains the focal point of the company’s long-term strategy which will be sold $189,000 with local deliveries planned for the summer. This SUV was among the most anticipated vehicles of 2020 as Aston Martin’s first-ever SUV in its 107-year history. It will compete with the likes of the Lamborghini Urus and the Bentley Bentayga.
The DBX media tour was prepared for May but it has since been postponed due to COVID-19. Aston Martin has also halted production of the SUV but Palmer says they are using this time to ensure that the DBX offers “perfect” quality.
In addition to the DBX product offering, Aston Martin is also focusing on its involvement in the mid-engine car game with the Valkyrie which is still expected to come out this year. The carmaker is also developing a twin-turbocharged 3.0-liter v6 engine offering as well as a new plug-in hybrid.
What else has Aston Martin been up too?
The British carmaker recently announced that they are just about ready to mass-produce protective face shields and gowns to healthcare professionals. The U.K. has been on lockdown since mid-March to curb the spread of COVID-19. Local officials expect the cycle of lockdowns to continue for months.
Aston Martin has partnered with engineering company Multimatic to make box-like shields to specifically protect healthcare professionals while they treat patients that are on ventilators.
Aston Martin’s new protective shield design is currently being tested out in various hospitals in the UK. Their gown design is currently being evaluated by the National Health Service organization. Aston Martin is planning to create 750 gowns per week as needed and expects to have the first mask assortment available to local UK hospitals by mid-April.