Luxury carmaker Aston Martin aims to more than double the number of cars it makes by 2025, according to CEO Andy Palmer.
Aston Martin is on target to produce 6,400 vehicles this year despite the pressures of slowing Chinese demand and worries over the impact of Brexit. Speaking to Reuters at the Abu Dhabi Grand Prix, Dr Palmer said that the company had grown by four times since 2014.
Dr Palmer added that as the rich get richer, they wanted more personalisation, and dismissed the notion that there was a slowdown in key markets.
The company is confident it will achieve higher profits in 2018 over last year, subtracting one-off costs, including those related to its initial public offering in October.
“If you focus on EBITDA, then yes we obviously will see growth. Excluding one-off costs, last 12 months, it all looks very healthy.”
Aston Martin’s new sport utility vehicle (SUV) is expected to be launched in in late 2019, with Dr Palmer commenting that demand for such vehicles in the Middle East North Africa (MENA) region was similar in size to China.
