Because demand dictates the market, even for super luxury brands.
It’s needless to say that the automotive market in China is booming. The biggest evidence of this was the recent Beijing Motor Show, which held witness to some huge vehicle debuts like the Mercedes A-Class Sedan, BMW M2 Competition, Lexus ES, among others.
With that, it’s natural that brands let the demands of the Chinese market affect their decisions – one of these automakers that follow the nation’s suit is Aston Martin, and the words came right out of the British marque’s President and CEO Andy Palmer.
The Aston Martin boss told Wards Auto that the upcoming DBX SUV gets the production green light because of the progressing China market. He also added that the DBX nameplate would have not existed without the demand from China.
“China is important for our future because we are booming here,” says Palmer on a press day during the Beijing Motor Show. In fact, the China market is so important that Aston Martin is in a partnership with The College of Design and Innovation at Shanghai’s Tongji University.
Aside from other design discussions, the partnership will monitor and participate the color trends in the country. Palmer said that Chinese people tend to prefer more vibrant hues than other markets.
To quantify the importance and the rise of Aston Martin in China, Palmer said that the sales of the marque rose by 89 percent in 2017. It’s going head-to-head with Ferrari in that market. Palmer also cited the success of the Bentley Bentayga SUV.
Currently, China is the largest market for luxury items, representing a third of the global consumption. McKinsey & Co. stated that the country will account for 44 percent of the global luxury market by 2025.
The Aston Martin DBX will enter China by late 2019, with a third of the projected 3,000 to 4,000 global sales will come from the booming eastern luxury buyer. The automaker will have around 20 dealerships by the time the all-new SUV debuts.
Source: Wards Auto