The head of Aston Martin says there are just six true luxury (as opposed to premium) automotive brands in the world … and adds there’s space for only one more.
According to Automotive News Europe, Aston Martin CEO Andy Palmer said the brands were Aston Martin itself, Ferrari, McLaren, the Volkswagen Group’s Bentley and Lamborghini, and the BMW Group’s Rolls-Royce.
However, the former Nissan executive added that Lagonda, the British firm’s new “ultraluxury” arm, would take the total to seven with the launch of its electric SUV in 2021.
“I’ll make a bold prediction that 10 years from now, we will not see any new luxury brands establishing a credible position in our market,” Palmer said.
“Conversely, under pressure to achieve greater profit through volume, we might see at least one of the established luxury brands exiting into the premium segment, in pursuit of that one more car for the mother company.”
Palmer said the Gaydon-based firm and Ferrari had proven it wasn’t “impossible to become profitable without being a division of an OEM”, showing that even “without the platform and technology provided by a mother ship” a company like Aston Martin could be competitive.
“I would contend Aston Martin Lagonda and Ferrari have proven that there’s a business model that is the exact opposite. A business model [that] is seeing independent luxury companies flourish. One that focuses on exclusivity and scarcity rather than being forced by the mother ship to chase one more car to contribute to the quarterly results.”
