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Aston Martin Targets U.S. for Growth in Post-Brexit Era
British luxury car maker Aston Martin Lagonda Ltd. is beefing up its presence in the U.S. to counter any negative impact on its domestic sales when the U.K. exits the European Union in 2019.
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British luxury car maker Aston Martin Lagonda Ltd. is beefing up its presence in the U.S. to counter any negative impact on its domestic sales when the U.K. exits the European Union in 2019.
CEO Andy Palmer tells Bloomberg News he is most concerned about changes in local content rules. Aston Martin imports its engines and transmissions from Germany, resulting in cars with only 45% British content. He says its vehicles could face a 60% local content requirement after Brexit.
Last year the company sold about 3,600 cars worldwide. About 20% of the total were delivered in the U.S., the brand’s largest market. The marque also is expanding in Japan, where Palmer aims to elevate sales by one-third to 400 units next year.
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