Palmer: Aston proves power of independence

DETROIT — Andy Palmer, CEO of Aston Martin Lagonda, is dismissive of the idea that the storied British automaker needs to be part of a larger group in order to succeed.

The former Nissan executive recalled that when he joined Aston Martin in 2014, skeptics told him that "it was impossible to become profitable without being a division of an OEM, that without the platform and technology provided by a mother ship, a company like Aston Martin will never be competitive."

Baloney, Palmer said during the Automotive News World Congress here last week, using a barnyard term instead.

"I would contend Aston Martin Lagonda and Ferrari have proven that there's a business model that is the exact opposite," he said. "A business model [that] is seeing independent luxury companies flourish. One that focuses on exclusivity and scarcity rather than being forced by the mother ship to chase one more car to contribute to the quarterly results."

Following its initial public offering in October, Aston Martin is embarking on a pivotal year, as its lineup expands with two additions at both ends of the product spectrum.

At one end is the Valkyrie, a hypercar developed with Red Bull Racing. At the other is the DBX, which is to be Aston Martin's first crossover.

"The commonality there, of course, is that they're beautiful cars and they're luxury cars," Palmer told Automotive News after his speech.

Also on the horizon in 2021 is the arrival of Lagonda, Aston's new bespoke ultraluxury brand, when it launches its electric SUV.