Aston Martins Trade and Investment with Japan
Posted on Mon 28th Aug 2017 at 10:25
Luxury hand-crafted sports cars manufacturer Aston Martin has announced this week that they will push trade and investment between the United Kingdom and Japan. This investment was announced by Aston Martin President and Chief Executive Officer Dr Andy Palmer during his visit to Japan as part of the UK delegation accompanying British Prime Minister Theresa May and is worth up to £500 million and will span the next five years.
Included in the announcement:
- Aston Martin exports over £400 million which has been boosted by new sports cars and the introduction of the company’s first Sports Utility Vehicle.
- Aston Martin buying more than £70 million in components from Japan.
- The creation of an Aston Martin Meta Technology and Luxury Accelerator office in Japan, to open in 2018.
- Investments in a flagship global brand centre in Tokyo, new Aston Martin Japan HQ and further growth of the Aston Martin dealer network across Japan.
The Prime Minister commented, “As we prepare to leave the European Union, it is vital that we build on our existing ties with friends and allies.
“Aston Martin is a prime example of the innovative and world leading firms the UK is proud of and I’m delighted they are joining me on this important trade mission.
“Aston Martin’s £500m deal will directly benefit the Gaydon plant in West Midlands and the St Athan plant in Wales helping safeguard existing jobs and opening new possibilities for future deals with Japan.”
Dr. Palmer commented, “Last week we unveiled our half yearly results, which saw Aston Martin register its third successive quarter of pre-tax profit. Our improving performance reflects rising demand for our new and special products.
“As the world’s second largest luxury car market, Japan is key to our future plans as we completely revitalise and expand our product portfolio under our Second Century plan. We have long enjoyed a loyal following from Japanese customers and the public alike, with our new dealership in Tokyo set to become our largest worldwide by volume.
"To ensure we are focused on the needs of Japanese and Asian customers, we are creating a Meta Technology and Luxury Accelerator office in Tokyo, reporting directly to HQ, to develop insights into luxury customer behaviour in Asia. This advanced product planning office is being created specifically to tap into research and technologies in the electric and connected car areas as well as the innovations Japan is making in the luxury market.” continued Palmer.
Aston Martin expects sales will more than double. Aston Martin currently exports a range of four sports cars to Japan including the new DB11 model and in late 2019; the company will introduce a sports utility vehicle.