Currently reading: Q&A: Aston Martin boss wants brand to be the 'British Ferrari'

Aston will adopt Ferrari's business model, says CEO Andy Palmer, making fewer but more profitable models

Aston Martin put new investor and executive chairman Lawrence Stroll front and centre of last month's reveal of the V12 Speedster. We sit down with CEO Andy Palmer to see how Stroll’s expertise (and money) will help revive Aston’s fortunes.

Lawrence Stroll talks about reducing inventories and rebalancing the company. What will the practical effects be?

“Lawrence has been the Canadian Ferrari importer a long time so he understands the Ferrari model very well. We expect in future to make materially fewer sports cars, but to make every one of them solidly profitable. We built 5800 sports cars for wholesale last year. We’ll do fewer in 2020.”

Can you be more specific about numbers?

“Not possible, I’m afraid. There will be a delay while we get stock out of the system. We’ll have to swallow hard. And change what we do. It’s time for us to make good and try to become the British Ferrari, asking customers to spec their cars individually and wait for them to be built. The DBX is already showing how we mean to go on. We’re building those cars only for retail and our order book for 2020 is full.”

2 Andy palmer

What will your relationship with Red Bull be like in future?

“Red Bull’s contribution has been invaluable. Those guys have been great friends to our brand and we’ll continue as their title sponsor in F1 this year. Red Bull Technologies takes responsibility for the Valkyrie and that will continue after we launch it at the back end of the year. Beyond that, we will have a new relationship with the [F1] team currently known as Racing Point. It’s up to us to make proper use of that relationship.”

Your electrification plans for the Rapide E and Aston Martin Lagonda have been shelved. Is that a poor signal to send to the market?

“Our plans have gone back, but they’re far from dead. We’ve finished the Rapide E engineering, learned a ton of stuff from it and its IP remains with us. But we’ve taken the opportunity to write down the capital expenditure of the electrification work. We’ve had some difficult years. We have to decide what our new priorities are.”

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1 Aston martin valkyrie and valhalla static front

What are your priorities?

“We have to get to the midengined model bloodline – Valkyrie this year, Valhalla in 2022 and Vanquish in 2023 – and we have to bring our 3.0-litre V6 hybrid and plug-in powertrains into the whole model range as soon as possible, as a way of staying on the right side of clean air regulations. These powertrains need to be right across our range by the mid-2020s. But we’re not walking away from the Lagonda project. I’d hope that would regain its place in our priority list post-2024.”

The Aston Martin Vantage has had a slow start. Why is this and what can you do about it?

“Actually, we’ve grown our market share with this model. But though our slice got bigger, the cake got smaller. Also, we were missing the Roadster, which will account for about 40% of potential volume. There was a demand for a manual gearbox, which we’re now meeting, and some buyers prefer a more traditional grille, which we’re now providing. And we’re now offering the leasing deals many people want.”

What are your immediate priorities this year?

“We have to balance demand and supply to remove extra stock out of the system and get back to building cars to order. Then we have to ensure that DBX’s quality is perfect from the very first deliveries.”

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How do these changes affect your own position as president and CEO?

“That’s a difficult question because you never really know. I’ve got plenty to prove. But Lawrence Stroll is more than interested in cars and he isn’t a passive guy – which I like. He’s made it clear that the CEO’s role won’t change. I’d like to be here to see the DBX and the mid-engined models through their launches, and the Lagonda too.”

So you’re fundamentally optimistic about the future?

“We had four good years from the back end of 2014, when I arrived, but 2019 was very difficult and we now have plenty to prove. We need a bit of luck with the market, but we’re cutting our cloth to suit the new priorities and conditions. If I wasn’t optimistic, I wouldn’t be the right guy for this job.”

READ MORE

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First ride: 2020 Aston Martin DBX prototype 

Aston Martin plots super-exclusive Speedster inspired by Le Mans

Steve Cropley

Steve Cropley Autocar
Title: Editor-in-chief

Steve Cropley is the oldest of Autocar’s editorial team, or the most experienced if you want to be polite about it. He joined over 30 years ago, and has driven many cars and interviewed many people in half a century in the business. 

Cropley, who regards himself as the magazine’s “long stop”, has seen many changes since Autocar was a print-only affair, but claims that in such a fast moving environment he has little appetite for looking back. 

He has been surprised and delighted by the generous reception afforded the My Week In Cars podcast he makes with long suffering colleague Matt Prior, and calls it the most enjoyable part of his working week.

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abkq 9 April 2020

Aston Martin as British

Aston Martin as British Ferrari? Maserati more like, another maker of luxury GT cars which is a very narrow market niche that's very marginal to current motoring needs. Especially neiother firm embodies the true effortless luxury of a Rolls Royce.

 

 

smithopinion@ya... 8 April 2020

Palmer out, Stroll in Bahar as CEO

Don't laugh, there are some articles being written that have that joker's name associated with Chinese money and a CEO position and as Stroll knows nothing about the car business and is now a Chairman, it is not such a crazy idea.  Especially when yopu hear Palmer talk like Dany and focus on Ferrari as a target rather than ficng on making Aston more Aston.  Well, there is another Chinese group who have credibility and who will pick up another Bahar debacle for a few pennies a share, to add to their Lotus portfolio.

Symanski 8 April 2020

You got it!

smithopinion@yahoo.ca wrote:

Don't laugh, there are some articles being written that have that joker's name associated with Chinese money and a CEO position and as Stroll knows nothing about the car business and is now a Chairman, it is not such a crazy idea.  Especially when yopu hear Palmer talk like Dany and focus on Ferrari as a target rather than ficng on making Aston more Aston.  Well, there is another Chinese group who have credibility and who will pick up another Bahar debacle for a few pennies a share, to add to their Lotus portfolio.

That's it exactly - Palmer is looking more and more like Dany Bahar.    Something that I've said already.

 

The really sad thing is, they might be better of with him too...

 

(Acutally maybe not, Palmer has done a great job with the engineering and production. His strengths it seems.)

6th.replicant 8 April 2020

The Vantage is struggling

The Vantage is struggling because the 992 is a better package: 1) it's faster; 2) it has a higher quality cabin; 3) it costs significantly less.

Similarly, the DBX will struggle because a Cayenne Turbo and a Bentayga V8 are cheaper and faster. And the Urus is in the same price range but is MUCH faster.

History shows that a car that looks good, handles sweetly but is slower than its rivals may find favour with car mags, but not with the people who matter - the punters. GT86 anyone?