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Not-so-rapid sales for Aston Martin Rapide

By SYF77 on 01 Jul 2011

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Aston Martin will reduce the production volume of the Rapide saloon in order to match supply with a decreased demand. Production will be cut to only 1,250 cars a year or 24 cars per week, which is slightly over half of the 2,000 cars initially planned in 2007/08. Several sources imply that volume could even be dropped to 10 per week but the automaker is insistent that it won’t fall to such level.

Right after the weekend of the Royal Wedding, the company sent an e-mail to contractors that it won’t need more parts for the month. Aston revealed that it will end an eight-year production contract with Magna Steyr, an Austria-based automobile manufacturer, in mid-2012. This is six years earlier than anticipated. Aston said that it has served a one year notice period as stated in the terms of the contract. Aston has yet to discuss the contract terms but according to sources, it could have spent up to £10 million to buy itself out of the Magna Steyr deal.

Several factors affected sales of the Rapide. Since it started production, the luxury car market has slowed down. After the global economic crisis in September 2008, sales of the Rapide have reduced by about 50 percent. Back then in 2007-2008 period, the Gaydon factory in Warwickshire (England) was almost operating at its maximum capacity. Competition in the luxury ‘4-door coupe’ segment has been rather hot as well, with highly credible candidates such as the Jaguar XF, Porsche Panamera, Mercedes CLS as well as the latest Audi A7.

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SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
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