Aston Martin taps the brakes

Despite the slow-down, Aston Martin is proceeding with a limited production run of the new One-77

Aston Martin sales manager for Australia, Marcel Fabris, says output from the factory will be cut by one-third this year, to 5000 cars, but an offer of shortened hours means it has managed to retain most of the 600 employees threatened with redundancy in December.

The company has also been wooing additional investors to raise capital following its sale by Ford two years ago to a consortium led by Prodrive chief David Richards. That move meant Aston could immediately commit to building the Rapide, a sleek four-door due to go on sale next year, which was shown as a concept in 2006.

At the recent Geneva motor show Aston also resurrected the Lagonda marque with a large SUV aimed at emerging markets and due by 2012.

The unnamed Lagonda SUV revealed a technical tie-up with Mercedes-Benz, which supplied the platform for the concept. Fabris says the Lagonda line-up will consist of three models eventually, including a Rolls-Royce style limousine, and will target high-wealth individuals in China and the Middle East. He says even with all its new models on stream, total production will rise only slightly from last year's record of 7300 cars. However, Aston has already outgrown its factory in England and the Rapide will be built by Magna Steyr in Austria.

Meanwhile, Aston is adding top-line variants to its existing range.

The Vantage V12, with a 380kW 6.0-litre V12 replacing the standard V8, will be the fastest car Aston has built - until the One-77. Fabris says local deliveries start in October and he expects the car, which is available only as a manual for $395,000, to be popular with Australia's "purist" buyers. Just 1000 will be made.

Aston dealerships are also taking orders for the DBS Volante, the convertible version of the souped-up DBS coupe, with a handful likely to come here.

Aston sales have slumped nearly 50 per cent this year and the brand has been unable to avoid "some fire sales on Vantages", the brand's most affordable model at $258,737.

"Some people are shopping for bargains rather than for the car they want," Fabris says. The slowdown had halved waiting lists and the brand is holding the line on price, he says, but it is too early to expect a rebound.

But unlike some brands, Aston is expanding its racing program, with a return to the Le Mans 24 hours in conjunction with Lola in June, 50 years after its famous win.

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