It might look a bit like the years marked on a tombstone, but Aston Martin Cars are actually in very good shape. There’s no reason why the firm cannot go on evolving its sports cars for the next hundred years, following a rather successful first.
While most motorists are more concerned with simply keeping their driving costs under control – identifying the cheapest petrol and insurance and the best value vehicle recovery cover – the success of a firm like Aston Martin impacts the wider economy – employing as it does thousands of workers both directly and indirectly in the UK.
Aston Martin has marked an entire century in the luxury motor business with a ceremony in Henniker Mews, Chelsea, where the company originally did its manufacturing. What’s surprising about Aston Martin, given its longevity, is that historically most of its sales came from Britain. But today, demand from Asia and India are propelling the marque forward.
Of the 45,000 cars built by Aston, 30,000 of those were sold in the last decade. It has changed from a cottage industry (albeit a very prestigious one), into an international luxury brand. Astons are sold in 41 countries, making up 75% of its market.
With appearances on James Bond films and with assembly plants remaining UK-based, few car makers could be more British than Aston. That said, since 1994 it has been in overseas hands, and now is owned by two Kuwaiti investment funds and an Italian private equity firm.
The next decades will present many opportunities to firms like Aston Martin, with an ever increasing number of people in emerging countries with the wallet and the desire to buy luxury cars.
One wonders if the switching of key markets from Europe to Asia will at some stage put UK plants at risk. There is some economic sense in moving manufacturing locations to where your customers are. Jaguar Land Rover is already setting up a plant in China. Will Aston Martin one day follow suit?
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