Aston Martin is working on a plan to turn the company around and beat Ferrari, after facing a $189M loss. CEO Adrian Hallmark has a strategy to roll out more powerful and costlier versions of the current SUV and sports car line-up, expand the options list to boost revenue, and restructure the business’s operations.
The first step has been unleashing a stream of enhanced variants of the existing line-up. More dynamic S versions of the DBX, Vantage, and DB12 – with more power, snappier gearshifts, and a more aggressive look – have already landed. Hallmark explains that when he joined, Aston Martin had two versions of the Vantage planned over five years, while Porsche might do 15 to 24.
Given a Vantage GT3 finished third in its class at this year’s Le Mans 24 Hours, it makes sense to capitalize with a stripped-out, more powerful, road-legal GT3. Hallmark says, "That's not a bad idea. I can't give you dates, but believe me, it's all coming. We've got seven or eight things happening per year for the next few years, before we get to the next generation cars, so we are raining the innovation down."
View Price on AmazonIt's happening on the options list too. Hallmark kicked off a review, only to discover that Ferrari, Lamborghini, Rolls-Royce, Bentley, McLaren, and Porsche combined offered 199 options that Aston didn't, probably losing some customers and certainly crucial revenue. As a result, titanium wheels and exhausts and high-end audio systems are coming on stream.
The focus on finessing current models will give more customers a reason to renew after two or three years and boost used car values. Restructuring is the final element of the masterplan. Beguiled by the luxury brand boom and peak Chinese demand, Aston predicted a 10,000 annual volume when Lawrence Stroll, the Canadian apparel billionaire, and his Yew Tree Consortium bought into the company in 2020.
Ferrari delivered 13,752 cars in 2024, its record year; Aston 5,448 last year. And that's despite a $2.2-billion investment: "big money for a little business." Hallmark reckons he's taken out 30 percent of the cost base. "We've got 26 programs focusing on costs and profits and cash improvement, and we're nine months in. You'll start to see the benefits at the back end of this year and into the next."
It can't come soon enough. Aston was recently forced to sell the naming rights to its Formula 1 team in perpetuity (to its owner Stroll), raising an additional $50M. A string of profit warnings has plagued Hallmark's time, with last year's US tariff crisis contributing to a $189M pre-tax loss. Does Aston need new investors?
"No," the CEO replies. "If we deliver the plan, we generate our own money. It's the number one priority to get us to a point where the company is profitable and growing the cash position – instead of burning it. The shareholders have been amazing. But even I get embarrassed going back and asking them for money.
"We thought it would take 18 months to flick the business into the black," concludes Adrian Hallmark. "Probably it'll take more like two years. Watch this space."
Source: autoexpress.co.uk
