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| Autos |
Vanquishing Depreciation
Winston Goodfellow
04/01/2004
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Strategic
Overhaul
Fueled by the Vanquish’s success, Aston Martin has been quietly
transforming itself from a boutique builder of revered sports cars such as the
lean, chrome-detailed DB5 and the GT models appearing in the James Bond films,
to one with three models and a 5,000-car annual output. The DB9, the successor
to the wildly popular DB7 that jump-started Aston Martin’s flagging fortunes in
1993, will be introduced later this year. Meanwhile, Aston is
readying a more revved up 2005 Vanquish, with over 500 hp.
Aston Martin’s
transformation began in 1987, when Ford bought a controlling interest in it from
former Pace Petroleum CEO Victor Gauntlett. The dynamic businessman had been the
latest in a long line of car-loving, but money-losing, entrepreneurs who had
owned Aston and seen it in and out of bankruptcy court since its inception in
1914. Under Gauntlett, average annual production had languished at about 200
cars through much of the 1980s.
“Here we are, almost three years after the
Vanquish was introduced, and it
still has sizzle.”
— Gordon McCall |
Ford’s deep pockets reversed the spiral.
Under its wing, Aston showed its prowess when it launched the $135,000, 160-mph
DB7 in 1993. The DB7 mated a 335-hp supercharged 6-cylinder engine to a 5-speed
manual or 4-speed automatic transmission. Its chassis and suspension were
modeled on Jaguar’s elegant XJS. Ian Callum, an emerging designer who worked at
Ford subsidiaries and is now Jaguar’s head of design, crafted the car’s
award-winning shape (essentially an elegant fastback). The DB7 went on to become
Aston Martin’s best selling model ever; more than 7,000 were made over a 10-year
period.
Need for Speed
In 1997, Ford saw the need to expand production and
introduce a faster model to truly compete with blue-chip sports car marques such
as Ferrari. Aston’s then-CEO Bob Dover gave Callum a blank check to design the Vanquish. He used sophisticated elements, such as a chassis that
featured a carbon-fiber passenger compartment and aluminum chassis sections to
shed weight and enhance strength. It would serve as the basis for an all-new
Aston chassis that would set the brand apart from its peers. For extra power,
the designers gave it a twin overhead cam engine that produced enough power to
propel the rear-wheel drive vehicle along at up to 195 mph.
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