In recent times, companies across the globe have started venturing into new segments, in order to widen their portfolio and customer base. And it is not just makers who cater to masses but manufacturers of luxury vehicles, who are planning to add to their line-up. Now, according to reports, Aston Martin, the British luxury car maker, is planning to expand its product portfolio by launching cars with the Lagonda badged luxury saloons. Notably, Lagonda was purchased by Aston Martin around 66 years back and is set to make a comeback in the international market. Industry experts feel that as the demand for luxury cars is increasing throughout the globe, Lagonda brand has the potential of performing well in the market.
Sources close to this development have claimed that Aston Martin is in no hurry to launch the Lagonda. It is being said that the British firm is going to take another five years, minimum, to launch a vehicles that bears the Lagonda logo. Reports of Aston Martin re-introducing this brand have been doing rounds for many years now and the British firm even showcased a concept Sports Utility Vehicle (SUV) of Lagonda in the 2009 Geneva Motor Show. However, this showcasing was facilitated majorly due to the ownership of Ford and the access of the firm's Research and Development facilities.
Over the past few years, Aston Martin has been facing stiff competition from other brands like Ferrari, Porsche, McLaren, Mercedes-Benz and Lamborghini. In addition, while the auto industry is in rude health in general, Aston Martin has reportedly incurred losses in the past year. A lot of industry experts feel that in order to come to terms with the best in the business, the firm needs to boost its current line-up and add a little bit of innovation to the same. Speaking about the firm entering the luxury Sports Utility Vehicle market, an official from the company was quick to differ. "We don't make utility. You do not take an Aston Martin or Lagonda to the shop to buy a fridge and I don't think this is what utility means to us. It has to have a different kind of comfort and usability," he was quoted as saying. Several analysts say that Aston Martin has a wide fan following in the world and in that respect, it is important that the firm does well.
