Aston Martin wants to increase sales in China, still thinking of an IPO

Article by Christian Andrei, on July 6, 2011

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.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nearly all details have been set with regards to the upcoming market introduction of the new Jaguar I-Pace. Its production version was recently previewed at the 2016 Los Angeles Auto...
by - December 8, 2016
WM Motor, a new China-based automaker, recently revealed its forthcoming lineup consisting of affordable electric vehicles. While there is a company is the U.S. that has the same name, they...
by - December 8, 2016
Even when Aston Martin has been mum about the upcoming AM-RB 001 hypercar, Marek Reichman at least has something new to say. In a recent interview with Australia’s Motoring, the...
by - December 8, 2016
The people at Mercedes-Benz are rejoicing. This is simply because for the first time since 1979, Mercedes-Benz has assembled 20,000 – and still counting – examples of the Mercedes-Benz G-Class....
by - December 8, 2016
When Donkervoort Automobielen BV unveiled its Donkervoort D8 GTO-RS limited edition in May 2016, customer interest has been so overwhelming that the Lelystad, Netherlands-based carmaker sold out this one-of-a-kind vehicle...
by - December 8, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries