Aston Martin showcased a trio of new vehicles, including its Formula 1 race car, as the luxury British automaker gears up for a robust 2024 after facing challenges in 2023 both on and off the track.
The Gaydon-based company revealed the updated Vantage sports car, a key player in the ‘entry-level’ luxury sports car segment, along with its Vantage GT3 race car for endurance racing. The new Vantage road car boasts a refreshed design, upgraded interior, and a more powerful engine, featuring an AMG-sourced twin-turbo V8 pushing out 656hp, an increase of 128hp from its predecessor.
Lawrence Stroll, Aston Martin’s executive chairman, expressed excitement about the company’s recent launches, citing an unprecedented period of consecutive launches in the company’s history. Stroll mentioned upcoming projects, including the first mid-engine hybrid program with Valhalla in the following year.
Despite a challenging 2023, which led to fundraising and new shareholders like Saudi Arabia’s PIF, China’s Geely, and Lucid, Stroll, the majority shareholder, remains optimistic. The road car business, distinct from the F1 racing team owned outright by Stroll, faced production cuts due to shortages and is set to provide a full-year financial update on Feb. 28.
Looking ahead to 2024, Stroll noted a positive outlook among Aston’s customers regarding the global economy, with strong demand for DB12 orders. Despite uncertainties in the luxury market, Stroll emphasized achieving a 40% contribution margin for sustained success.
On the F1 front, Stroll anticipates a more successful season, aiming to finish better than fifth in the Constructors’ Championship and eyeing the team’s first race win. The 2024 F1 season promises excitement and controversy, with high-profile changes and ongoing drama, but Stroll remains focused on Aston Martin’s ambitious goals for the year.
