Palmer, who joins Aston Martin after a career spanning 30 years at Renault-Nissan, is said to be in search of seeking to increase the funds available to the British automaker in an effort to expand the portfolio of the current line-up. The automaker, which is held by Italian investment firms and Kuwaiti are expected to soon make available new bonds and shares to assist in raising investments to between $156 million and $234 million to support the growth of the Aston Martin portfolio.
Looking to expand into new consumer markets that include hybrids, crossovers and high end luxury sedans, with a recent investment of a five percent share into the company by Diamler that will bring new engine technology and the sharing of other innovations, Martin appears to have a long term plan in place to continue a steady growth in the coming years.
Having seen Aston Martin’s competition moving into the crossover and hybrid realm as well, in order to continue a strong competitive base it is in the best interest of Aston Martin, which often takes a more conservative approach, to expand the current portfolio to appeal to a larger consumer foundation. Maserati and Bentley who have already commenced plans to expand their line-ups into the SUV market and with Porsche’s successful entrance into this arena as well with the Cayenne it is time for the British automaker to follow suit.
Aston Martin CEO-Palmer shared that he will ensure any SUV that the brand does will ‘approach sports cars from a next-generational perspective’, but promised it won’t be a flop like the Cygnet city car. With the learning curve of the launch of the Cygnet last year into the market it appears Aston Martin has realized that any model included in the AM portfolio must maintain the quintessential appeal the brand is known for to find success in any market that might fancy them to enter.
The consumer, holding the brand to a level of elegance and luxury, will expect nothing less with an Aston Martin badged SUV or hybrid in the coming years.