Big Changes Ahead From Aston Martin’s CEO

The increase in mass market vehicles is one of the biggest changes coming to the automotive industry, according to Andy Palmer- CEO for Aston Martin.  He says mass-market cars will resemble pods as autonomous-driving technology continues to expand.  At some point, the vehicles will require little human involvement, and that will happen once cars reach level-4 autonomy.

 
When it comes to a brand such as Aston Martin, the executive says “If you’re an entirely rational brand, then you’ve got to compete on price,” Palmer said. “In the car business, the margins are really, really, fine, if not zero.”  However, he states that luxury vehicles have an emotional appeal that allows them to charge higher prices and collected bigger profits.  Palmer says that “there’s nothing rational about buying an Aston Martin. You’re appealing to the heart, and the margins in that business are much greater.”

Under Palmer’s direction,  the brand has expanded into high-end condominiums and luxury yachts. He states that he thinks Level-4 autonomy, which