LONDON — Aston Martin is trying to boost its market share in the United States and Japan to mitigate against any risks from Brexit which could add costs and delays to sales to the European Union, CEO Andy Palmer said.
Around 20 percent of the company’s top-end cars are currently exported to the U.S. whilst 15 percent are sold to the EU, with whom unfettered tariff-free trade is at risk depending on the outcome of Brexit talks.
Palmer said the automaker has invested resources into boosting demand in the world’s biggest economy since the June 23 Brexit vote last year.
“We decided to invest money in marketing in the U.S,” the CEO told Reuters on Friday. “We are trying to give a push in the U.S. to increase our market share there, increase our volumes there (and) therefore decrease our reliance on Europe,” Palmer said. “To some extent, that would be true also of Japan.”
The automaker, which posted record first-half pre-tax profit on Friday, will boost its global volumes by around a third to roughly 5,000 cars this year.