The future for luxury sports car builder Aston Martin just got a little bit brighter, as European equity fund Investindustrial has committed to buying a 37.5-percent stake in Aston Martin from current owner Investment Dar. The deal is said to be worth some 190 million euros, the equivalent of $246 million.
As Bloomberg reports, Aston Martin hopes Investindustrial can work the same magic as it applied to premium motorcycle brand Ducati. Under Investindustrial’s ownership, Ducati’s new worth grew to the 860 million euros ($1.1 billion) paid by the Volkswagen group last April.
To up Aston Martin’s sales, Investindustrial will focus on growing the model range and shoring up its aging dealer network. Previous owner Investment Dar lacked the funding to contribute to Aston’s growth, so Investindustrial’s cash is badly needed if Aston Martin is to compete against premium brands backed by larger automakers.
Also, don’t forget that you can get discounted new car pricing with a free quote through qualified local dealer partners.
This much is clear: something needs to be done, and done quickly, to halt Aston Martin’s plummeting sales. Through September, global sales have dropped by 20-percent compared to 2011, leaving the company with an operating loss of 3.6 million pounds ($5.77 million).
Kurt Ernst has been passionate about automobiles and driving nearly his entire life. His early years were shaped working in the family service station, though his real passion was auto racing. After graduating from the University of Colorado, Kurt spent a year club racing with the Sports Car Club of America, before focusing on a business career in marketing and project management. Later, his passion for writing and the automotive hobby found him freelancing for a variety of automotive news sites, including Automotive Addicts and Motor Authority, where his work was syndicated and appeared in several national publications. Recognized as an expert in the automotive field, Kurt joined Hemmings Motor News as an Associate Editor in 2013, and in the years since has progressed to Editor, Hemmings Daily; Managing Editor for Hemmings Motor News, Hemmings Classic Car, Hemmings Muscle Machines, and the Hemmings Daily; and now, Managing Editor, Hemmings Auctions. Kurt was instrumental in organizing the Hemmings Motor News Concours d’Elegance from 2013-2019, and has served as a judge at this event and The Vintage Racing Stable Concours d’Elegance. A Skip Barber Racing School graduate and prolific writer, Ernst is also skilled in copyediting, project management, brand development, and public relations.
