Aston Martin Lagonda Global Holdings will launch its first sport-utility vehicle in Beijing this month, highlighting China’s importance as a key market for a model the company says will help double sales, reported Bloomberg.
The luxury carmaker, whose stock is down 78 per cent since listing 13 months ago, will price the DBX from $189,900, pitching it between Lamborghini’s best-selling Urus SUV, which starts at $200,000 and the $165,000 Bentley Bentayga.
Aston Martin is counting on the DBX to spur demand in markets where wealthy individuals tend to favor more-rugged autos because of the poor quality of roads such as China and Russia. Sales at Volkswagen’s Lamborghini surged 50 per cent last year, with the Urus accounting for almost a third of the tally, while Ferrari plans to join the supercar-SUV club with the Purosangue in 2022.
England-based Aston Martin has also pegged future borrowing to the success of the Welsh-built DBX, with $100 million of bonds available only if it sells 1,400 cars by the middle of next year.
The DBX will feature a 4.0 litre twin-turbo V8 producing 550 horsepower, with a top speed of over 180 mph.
Orders for the DBX will open on 20 November 2019, the same day as the Beijing event, with deliveries starting next year.