High levels of personalisation have pushed the average price of an Aston Martin to a record £213,000, but the brand has no plans to branch out beyond sports cars into the luxury car market.
The brand’s average selling price in 2023 was up some 15% on the year before, an increase attributed to the bespoke customisation services it offers on each model.
But the brand will not seek to capitalise on this boost in margins by launching any dedicated luxury-focused models, as had been the plan under previous CEO Andy Palmer, who was working on plans to revive the Lagonda marque as an all-electric luxury brand to rival Bentley.
Lagonda was planned to launch with a luxury super-saloon and an SUV, both previewed with concepts in 2018 and 2019 respectively.
Palmer said at the time the cars were aimed at “tech entrepreneurs, the guys who drive Teslas”, rather than traditional Bentley and Rolls-Royce customers. “It’s in the same high-net-worth market but not aimed at the same customer”.
Following Palmer’s departure from Aston Martin in 2020, the Lagonda project went quiet, and it was understood to have been shelved in favour of investment into the firm’s existing sports cars, the launch of the DBX and development of the Valkyrie hypercar.
And now, chairman Lawrence Stroll says he has no ambitions to take Aston Martin into the luxury market.
“We think there’s enough luxury in our sports cars and SUV, so we’re not considering launching a less-performance, higher-luxury car,” he said.
He said the firm can cater to this market effectively already, “particularly with the increased level of personalisation” the firm now offers across its model range, and the ultra-luxurious ‘Q’ dealerships it is rolling out worldwide.
He said the Lagonda project concocted by “the previous management” is categorically not being considered for revival.
Credit: Source link