Aston Martin is profitable and new Cygnet will be a cult icon, CEO Bez says
11-03-10, 08:11 AM
#1
Guest
Posts: n/a
Aston Martin is profitable and new Cygnet will be a cult icon, CEO Bez says
Aston Martin is profitable and new Cygnet will be a cult icon, CEO Bez says
Aston Martin's Cygnet has a stylish design and innovative features that make it "advanced, iconic and iconoclastic," CEO Ulrich Bez says.
Paul McVeigh
Automotive News -- November 3, 2010 - 5:53 am ET
Print 
Email 
Reprints
1 comment
Recommend
Follow Automotive News
BERLIN -- Aston Martin was profitable through the economic crisis and its new Cygnet minicar will be a cult hit like the brand's models made famous by James Bond movies, CEO Ulrich Bez said.
After two decades of ownership, Ford Motor Co. sold the British luxury sports car brand for $674 million in 2007 to a group of investors led by Kuwait's Investment Dar.
Bez said not many people thought Aston Martin would survive alone but the company was profitable through the crisis and will be profitable in 2010 and the coming years.
"My investors are happy," Bez said at the Automobilwoche industry conference here. Automobilwoche is an sister publication to Automotive News Europe.
The CEO, who has led Aston since 2000, said the company will not look for an industrial partner, despite the industry trend for automakers to seek alliances to cut costs.
Since Ford cut the brand loose, Aston has been successful as an independent company, funding its products alone, and will remain so, Bez said.
Aston Martin's forthcoming Cygnet has surprised brand purists because the tiny 2+1 minicar -- just a little larger than a Smart ForTwo -- is a major departure from the company's usual big high-performance sports cars.
Bez said he believes the Cygnet has the appeal to make it a cult icon, just like the DB5 that James Bond drove in hit movies.
"The Cygnet is exclusive and bears an exclusive brand name," he said, adding that the car's stylish design and innovative features make it "advanced, iconic and iconoclastic."
Aston Martin will sell about 3,000 Cygnets a year, priced from 30,000 euros, Bez said.
The car is a reworked, upscale version of the Toyota iQ and will be assembled at Aston Martin"s Gaydon factory in England starting in early 2011.
Bez said the Cygnet will help Aston Martin reduce its fleet CO2 emissions in line with demands from legislators in Europe and the United States.
Read more: http://www.autonews.com/apps/pbcs.dl...#ixzz14ETLUwZI
Aston Martin's Cygnet has a stylish design and innovative features that make it "advanced, iconic and iconoclastic," CEO Ulrich Bez says.Paul McVeigh
Automotive News -- November 3, 2010 - 5:53 am ET
Print Email Reprints 1 comment
Recommend
Follow Automotive News
BERLIN -- Aston Martin was profitable through the economic crisis and its new Cygnet minicar will be a cult hit like the brand's models made famous by James Bond movies, CEO Ulrich Bez said.
After two decades of ownership, Ford Motor Co. sold the British luxury sports car brand for $674 million in 2007 to a group of investors led by Kuwait's Investment Dar.
Bez said not many people thought Aston Martin would survive alone but the company was profitable through the crisis and will be profitable in 2010 and the coming years.
"My investors are happy," Bez said at the Automobilwoche industry conference here. Automobilwoche is an sister publication to Automotive News Europe.
The CEO, who has led Aston since 2000, said the company will not look for an industrial partner, despite the industry trend for automakers to seek alliances to cut costs.
Since Ford cut the brand loose, Aston has been successful as an independent company, funding its products alone, and will remain so, Bez said.
Aston Martin's forthcoming Cygnet has surprised brand purists because the tiny 2+1 minicar -- just a little larger than a Smart ForTwo -- is a major departure from the company's usual big high-performance sports cars.
Bez said he believes the Cygnet has the appeal to make it a cult icon, just like the DB5 that James Bond drove in hit movies.
"The Cygnet is exclusive and bears an exclusive brand name," he said, adding that the car's stylish design and innovative features make it "advanced, iconic and iconoclastic."
Aston Martin will sell about 3,000 Cygnets a year, priced from 30,000 euros, Bez said.
The car is a reworked, upscale version of the Toyota iQ and will be assembled at Aston Martin"s Gaydon factory in England starting in early 2011.
Bez said the Cygnet will help Aston Martin reduce its fleet CO2 emissions in line with demands from legislators in Europe and the United States.
Read more: http://www.autonews.com/apps/pbcs.dl...#ixzz14ETLUwZI
11-03-10, 09:11 AM
#5
Lexus Fanatic
Join Date: May 2003
Location: Massachusetts
Posts: 7,864
Likes: 0
Received 0 Likes
on
0 Posts
The Cygnet is for real? 
I thought this was just an in house exercise using the iQ. It almost seems like a joke. Aston Martin econobox? What the hell is going on here?
I thought this was just an in house exercise using the iQ. It almost seems like a joke. Aston Martin econobox? What the hell is going on here?
11-03-10, 09:20 AM
#6
However, when you think about business, profit margins, and meeting company emission standards; the Cygnet has value. It became a viable asset.
Trending Topics
11-03-10, 09:51 AM
#8
Lexus Test Driver
Join Date: Feb 2008
Location: GA
Posts: 1,232
Likes: 0
Received 0 Likes
on
0 Posts
The original plan was to sell it as an "option" to a Vantage/DB9/DBS/Rapide, so you can have a "daily driver" Aston along with your splurge one. It was never meant to be sold as a lone standing model.
However, when you think about business, profit margins, and meeting company emission standards; the Cygnet has value. It became a viable asset.
However, when you think about business, profit margins, and meeting company emission standards; the Cygnet has value. It became a viable asset.
I love it and loved it even more as an option to the "customary" AM, but cannot help but sigh if it is an actual model...although I would consider getting one. LOL
11-03-10, 11:49 AM
#10
iQ, with few minor interior part exchanges can easily be Lexus... it drives so well and drives like premium vehicle. Nothing econo about it.
11-03-10, 12:02 PM
#11
Lexus Fanatic
Join Date: May 2003
Location: Massachusetts
Posts: 7,864
Likes: 0
Received 0 Likes
on
0 Posts
Hahaha
They'll be lucky to sell ONE. Doesn't matter how many expensive parts they put in it or how luxurious they make it.
Think about it, The Equus is going to be around $50K and has everything that $75K cars have. If someone pays that for a pimped out iQ, they're out of their mind.
Don't get me wrong, I love the iQ. But I think that even the Scion version's price is too high ($15K). I drive a Yaris sedan that is twice the car for that price.
Even if the Cygnet somehow squeezes in 200 HP, has the best suspension and brakes, is filled with leather and every gadget you can imagine, it still wouldn't be worth $25K, let alone $50K.
11-03-10, 12:09 PM
#12
Lexus Fanatic
Join Date: May 2003
Location: Massachusetts
Posts: 7,864
Likes: 0
Received 0 Likes
on
0 Posts
Just read something interesting.
Cygnet will only be available to Aston Martin owners. In this case, price doesn't matter. And exclusivity is huge. When you see someone driving a Cygnet, you know they have a real Aston Martin ($116-$266K).
That changes this whole debate.
Cygnet will only be available to Aston Martin owners. In this case, price doesn't matter. And exclusivity is huge. When you see someone driving a Cygnet, you know they have a real Aston Martin ($116-$266K).
That changes this whole debate.
11-03-10, 12:57 PM
#14
That being said, having sat inside the iQ, I thought it was nifty for a micro Toyota.