Aston Martin CEO Andy Palmer says the Gaydon-based brand needs a “big brother” to survive as a relatively low-volume automaker.
Speaking to Automotive News Europe, Palmer suggested that Aston Martin was seeking a tie-up with a larger automotive player.
“We are making a new kind of a company, a company that can survive on 7 000 to 14 000 very highly priced, very profitable cars a year, but it can survive because of its partnerships,” Palmer said.
“It can be very profitable on that 7 000 to 14 000 cars a year, but only by having a big brother that can help it out,” he explained.
Daimler, the German multinational that owns Mercedes-Benz, currently holds a five percent stake in the British automaker, with Mercedes-AMG and Aston Martin having entered a technical partnership back in 2013. However, Palmer wasn’t specific about which automaker he planned to make a “big brother”.
Aston Martin recently reported a record full-year financial performance, driven by strong demand for its DB11 and special models.
For the 12 months to 31 December 2017, the automaker delivered its highest-ever revenues of ?876-million, up 48% on 2016. The improved financial performance reflected an increase in wholesale volumes to 5 098 units, Aston Martin?s highest full-year sales volumes in nine years.
