2013 proved to be a good year for Aston Martin. The British automaker did not just celebrate its 100th anniversary; it also enjoyed a more profitable year.
Aston Martin recently announced its 2013 full year results, and these were nothing but good news for the brand. For the 12-month period that ended in December 31, 2013, the luxury car manufacturer sold 4,200 units globally, an 11 percent increase over the previous year. Selling more cars boosted profits, which totaled £84.8 million (about $142.6 million). Aston Martin’s 2013 profits surged 13 percent compared to the year prior.
Aston Martin’s remarkable performance for 2013 can be attributed to both the introduction of new products and expansion. The automaker launched the Vanquish Volante and V12 Vantage S models late last year, and was well-received just like the Vanquish Coupe. Aston Martin also benefited from its entrance to new markets such as Thailand and Mexico.
Another thing that contributed to the bottom line was Q by Aston Martin, the automaker’s popular personalization service. Consumers loved the chance to customize their own Aston Martin ride, making the bespoke service a hit. Aston Martin recently showed how bespoke luxury autos should be with its showcase at the China International Exhibition Center for the Beijing auto show. The company put on display Q by Aston Martin Rapide S and Q by Aston Martin Vanquish to present the kind of personalization that the service makes possible.
Higher revenue offered Aston Martin the opportunity to initiate what is considered the biggest investment program in the carmaker’s history, but more investments from existing shareholders such as Investindustrial made undertaking such program a reality.
“We will, in the next few years, be implementing the biggest investment programme in our 101-year history, preparing the ground for new and exciting products in the future,” said Aston Martin Chief Financial Officer Hanno Kirner in a statement.
The investment program will allow the carmaker to do two things: develop a new platform and acquire new engines, among others, from Mercedes-AMG.
Aston Martin has been using the VH platform for a long time. Though it has been consistently updated, it needs to be replaced. Through the program, the company can finally develop new architecture to replace the existing one. The new platform will be underpinning Aston Martin’s future products.
Aston Martin will also be replacing its V-8 with the help of Mercedes-AMG. “The strategic partnership with Daimler AG will bring with it cutting edge electrical and electronic architecture expertise, and the shared development of world-class bespoke V8 powertrains,” Kirner said.
While the British car manufacturer is seeking the assistance of Daimler with the V8, it will continue acquiring its V-12 engines from Ford for now.
Aston Martin has already confirmed the development of a new platform, but there is no word if it will be sharing architecture with Mercedes-Benz. It was reported in the past that the automaker may be allowed to use the Mercedes GL-Class platform for an SUV. Platform-sharing may have to be postponed though, as Aston Martin focuses on creating new products.
Photo credit: astonmartin.com