A new flagship Aston Martin dealership is to launch in Wuhan, China, later this year, the luxury car maker has confirmed. The 5,381 sq ft two-floor showroom will form part of a larger network expansion for the Warwickshire-based manufacturer in the country, which is the fastest growing market for the company.
Further announcements regarding Aston Martin’s plans within the Chinese market are set to be revealed later this month.
Aston Martin president and chief executive Andy Palmer travelled in Wuhan to sign the contract for the new dealership with president of Aston Martin China, Michael Peng.
Palmer said: “Since opening our first dealership here in 2011, Aston Martin has made good progress in China.”This will become an important market for our new SUV, the Aston Martin DBX, when it goes into production next year. “I’m delighted with the location of the new Wuhan dealership in the heart of the city’s central business district and I look forward to coming back in the autumn for the grand opening.”
Wuhan is the capital of Hubei Province in central China and sits equidistant between Beijing and Guangzhou and has been projected to be China’s third largest city economy by 2025. Peng said: “I am honoured to be here today, signing a contract that will see Aston Martin expand its presence in central China. “I believe this is a very important market for us and being located in Wuhan will enable us to reach many more customers in this important region.”
The announcement comes after Sky News reported that Aston Martin was set to confirm investment deals in China that could be worth up to £600m to tie in with Prime Minister Theresa May’s first trade visit to the country. A series of agreements are expected to be revealed including plans to open ten showrooms in China as well as an exchange programme involving Chinese engineering graduates. The deals are understood to be part of a five-year investment programme by the manufacturer.
The news comes ahead of the company launching its new Vantage vehicle later this year and its first-ever SUV in 2019.