Ford takes over Aston Martin
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Ford Motor Company has reached an agreement to buy Aston Martin Lagonda, acquiring 75% of the company’s shares.
Though Ford now has a majority control, Aston Martin will maintain its own “separate character and identity”. Victor Gauntlet will continue to act as Chairman and Chief Executive, and part of the deal will allow AML full access to Ford’s technical and research department. Following the news of the sale, several national newspapers suggested the deal might lead to Aston Martin re-entering the world of motorsport. The Daily Telegraph even went so far as to suggest a possible F1 team. . .
Neither AML nor Ford is prepared to comment about this, but it would seem a highly unlikely proposition. More interestingly, news of the Ford buy-out revealed that, when Aston Martin was sold to an American company back in 1982, it changed hands for a little over £850,000. Ford is thought to have paid considerably more! Aston Martin will continue to be based at Newport Pagnell, Buckinghamshire, with production at present five cars per week. The current AML model range includes the V8 saloon, V8 Volante, V8 Vantage and Lagonda, with prices ranging from £65,000 to £87,500.
Last year, Aston Martin began production of the Aston Martin Vantage Zagato. Plans are to continue with the existing programme, but AML will introduce a new sports car at the end of 1988, unveiling it at the British Motor Show next autumn.