Aston Martin brings Rapide production home to Gaydon

ASTON MARTIN is to move production of its new four-door model, the Rapide, to its base at Gaydon in Warwickshire.

The luxury car maker had used Austria’s Magna Steyr factory to build the model since 2009 because of capacity constraints at Gaydon. But yesterday it announced that the model would be brought home, with production starting in the second half of 2012.

The company doesn’t reveal specific model figures, but industry observers believe the Rapide is heading towards 1,000 units a year, representing almost a quarter of the company’s total production.
In the announcement, Aston stressed it hadn’t fallen out with Magna Steyr, but said its operations had improved sufficiently at Gaydon to absorb the new model.

It said: “Aston Martin and Magna Steyr have enjoyed a very positive working relationship with production of the Rapide reaching benchmark quality standards and the car proving a strong success with customers and critics alike.

Aston Martin Chief Executive, Dr Ulrich Bez said: “In 2008 we had facility restrictions at Gaydon which indicated that production of Rapide at Gaydon would likely compromise production of our other cars. We were not prepared to do this.

“Now, three years on things are very different – Gaydon is more established, more flexible and more efficient. While our overall volume has not changed significantly, we now produce a far richer model mix – eight model lines (plus five variants) compared to three model lines (plus two variants) in 2008 – so Rapide production is now possible.

“I would like to place on record our gratitude to Magna Steyr and their team of dedicated employees who have become part of the Aston Martin family in the last few years and met all our requirements and expectations.”

It was reported earlier this week that the car maker was also pondering a bond issue to restructure its finances, following on the heels of a similar move by near neighbour Jaguar Land Rover.

The Financial Times said Aston was looking to sell £300m of high-yield bonds, in its maiden offering. JLR raised £1bn in a bond issue last month.
The bonds are expected to be priced after an investor roadshow in the UK and continental Europe.