Aston Martin - History and Future
What lies ahead for the luxury British car manufacturer?
Aston Martin has been sold again, this time to a group of marque enthusiasts and venture capitalists. Can they work together to ensure the success of this famous brand?
The great challenge confronting the new owners of Aston Martin will be to keep the soul of the car – emphasizing engineering and a coach-like interior - while adjusting to changing customer preferences for gadgetry and emission and safety regulations.
Like so many British auto manufacturers, Aston Martin has been bought and sold numerous times. It has been saved from bankruptcy more often than Donald Trump. Founded in 1914, Aston Martin arose out of World War II competing for the gentleman’s sporting transportation trade with firms like Bristol and Jensen.
The glorious DB
Its most visible owner (1947-1972) was David Brown, a tractor manufacturer eager to enter the grand touring world. The “DB” models remain indelibly etched in automotive history. It garnered international attention as a successful sports racer in events such as Le Mans and Sebring, but like Ferrari, had trouble translating those victories into profitable consumer sales. For example, the DB4, produced from 1958 – 1963, which Thoroughbred and Classic Cars called “the finest DB Aston,” managed production of only 1,000 units. Undoubtedly, the “improve as you go” attitude – which resulted in three different series over the 5 years – hurt sales. When you consider that Series I cars reportedly overheated routinely, Series II cars finally got improved braking and cooling, while Series III cars finally dumped parts-bin sharing with Humber [a Rootes product as out of date in the 1950’s as Packards were in the US], perhaps small sales become understandable. It didn’t matter too much because production capacity was also rather small.
Bond, James Bond
What launched the company anew into the American mindset was its appearance in 1964 in the James Bond film Goldfinger. The sight of Sean Connery’s DB5 model kitted out with all kinds of lethal equipment, captivated American audiences. Aston Martin would work hard to keep the car in front of moviegoers throughout the 1960’s and 1970’s. As the films became more and more product placement videos, Lotus would sneak in an Esprit for Roger Moore and BMW covered Pierce Brosnan. With the latest film, Casino Royale, James Bond (Daniel Craig) returns in a proper Aston Martin DBS.
With the exception of Jaguar, Rolls Royce and Bentley, the US market has always viewed British cars as two-seater sporting automobiles, preferably in convertible form. That dilemma bedeviled British auto manufacturers for decades; this large export market always preferred models that the home market and Europe never loved as much as Americans. Most well-known marques in the US, such as MG, Triumph, and Austin, were represented by sports cars, when their sales in Britain depended upon their sedan counterparts. For Aston Martin, it meant that it had to expand beyond coupes and convertibles to be financially successful.
Ownership changes through 1970s and 1980s
Aston’s situation in the late 1960’s prompted it to expand into the luxury saloon market by reviving the dormant Lagonda nameplate. David Brown hired ex-Rover and Rootes stylist William Townes to put the then-radical wedge shape into a 4-door sedan for the sporting set. By its launch in 1974, noted Gary Axon in Classic and Sports Car magazine, Aston had spent so much on developing the car that it was “destitute.” This time, an American-Canadian investment group, led by Peter Sprague and George Minden bought the company, renamed it Aston Martin Lagonda (1975) Limited, and moved ahead to begin filling the orders that came from the London Auto Show.
Yet another ownership change occurred in 1981 when Victor Gauntlett and Pace Petroleum saved the company financially. While the overall outline of the Lagonda never really changed, numerous details and improvements continued to captivate its wealthy US and Middle Eastern buyers. Only around 1,300 cars ever saw production from 1980 – 1990, when Aston Martin – again near bankruptcy – pulled the plug. Enter Ford in 1987; its own financial problems forced it to sell this division this month.
Emotionally, you want Aston Martin to survive and succeed. The automotive landscape will be far bleaker without its brilliant automobiles.
Read more:
Aston Martin Sold to Consortium
