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.