Aston Martin wants to increase sales in China, still thinking of an IPO
By Andrew, 06 Jul, 2011. 0 Comments
2011 Aston Martin DBS
Aston Martin, a British sports vehicle manufacturer, is still considering an initial public offering, as it is expanding its vehicle model lineup to boost sales in emerging markets as demand for premium cars recovers. Last month, Aston Martin introduced the Cygnet, which is based on Toyota Motor Corp.'s subcompact iQ, as its first city car. According to Aston Martin’s CEO, Ulrich Bez, the company’s growth potential in emerging market has not yet been fully explored.
The company expects to "imminently" get a license to import to China, allowing it to establish its own national sales company, Bez stated. The company, which manufactures the 125,000 pound DB9, currently sells its units in China through independent auto retailers.
It is aiming for a network of as many as 14 dealers in China, which is the biggest vehicle manufacturer in the world. Moreover, the company expects to sell "a few hundred" units in China this 2011, Bez further said. For the year ended March 31, the company has delivered 4,299 units. In 2007, Aston Martin was sold by Ford Motor Co. to a group of private investors including Kuwait-based Investment Dar Co. in an agreement valued at 479 million pounds (535 million euros). The company’s units are driven by James Bond and are said to be favored by Prince Charles.
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