Aston Martin has announced a five-year trade and investment plan in China as part of its ongoing expansion in the largest automotive market in the world.
The five-year plan, worth over 600 million pounds ($848 million), has commenced with the launch of a new dealership in Wuhun. The announcement was made by Aston Martin president and chief executive Andy Palmer during a recent visit to China with British Prime Minister Theresa May.
“Our impressive 2017 performance in China reflects increasing demand for our new and special vehicles,” Palmer said. “The continued roll-out of our new model pipeline, including the company’s first electric vehicle in 2019, will further improve Aston Martin’s market share in this key market, alongside investments we are making to strengthen brand visibility and sales performance. These investments reflect our confidence in the Aston Martin brand and the attractiveness of the Chinese market which was our fastest growing region in 2017.”
By the end of 2018, Aston Martin intends to open 10 new and refurbished dealerships across the country, expanding its footprint in China to more than 20 locations. The brand will also open a second office in Beijing in the coming months.