Aston Martin Chief: PAG Will Succeed

Wall Street must be patient with Ford Motor Co.'s Premier Automotive Group, Aston Martin Chief Executive Officer Ulrich Bez tells WAW, adding that its consolidated approach to luxury vehicle marketing will pay dividends.

Established in 1999, PAG features Aston Martin, Land Rover, Jaguar, Lincoln and Volvo. Worldwide sales for its cars and trucks totaled 870,000 last year. Total U.S. sales for 2001 are expected to hit 450,000.

Sales should be propelled by this year's introductions of the Jaguar X-Type and Land Rover Freelander. Mr. Bez says the group's target is 1.3 million annual sales by 2004.

In 2004, Aston Martin rolls out a coupe that will start at $90,000, followed by a corresponding convertible in 2005 starting at $100,000.

The $228,000 Vanquish V-12, taking styling cues from Aston Martin's DB4 GT Zagato, has an extruded aluminum frame that is strengthened by bonded carbon, an industry first. The 460-hp Vanquish debuted in early August.

Aston Martin has 20 dealers in North America with plans for 25 by year's end and 40 by 2003.

Aston Martin will build 200 units this year and 500 in 2002. All are sold. North America will see 62 this year and 150 in 2002.