“80% of people who watch F1 buy a high performance car”- Lawrence Stroll traces his target audience as he aims to expand Aston Martin’s business.
Lawrence Stroll last year paid the bailout to Aston Martin and quickly brought back the team to Formula 1 for the first time since 1960. According to him, it was a smart move to his automobile project.
His business model with Aston Martin goes beyond motorsport and apparently focuses on releasing a variety range of cars, from an electric power SUV to a sports car.
“The SUV will be built in Wales, and the sports cars will be built here [in Gaydon],” he told the Finacial Times. The UK government is planning to phase out non-hybrid petrol engines, and that is why Aston Martin is mapping its sale on electric cars like its rivals.
“We are way ahead of our rivals, and all because of our partnership with Mercedes,” he said. “We will have a [electric] front-engine version of a DB11/Vantage and an SUV higher four-wheel drive one, but we don’t know the names yet,” he added.
F1 viewers are attracted to sports cars.
Lawrence Stroll then talked about how is his investment in F1 is related to his automobile business, to which he responded by citing F1 fans’ addiction to sports cars.
“By showing a little bit the first signs of scarcity, we’re already seeing results,” Stroll said. “We’re already sold out until September on the sports cars and until July on the DBX.”
“80% of people who watch F1 buy a high performance car at various price points,” he said. “And of the 23 countries where there are races, we have dealers in 20.”
Aston Martin is going with the lineup of Lance Stroll and four-time world champion Sebastian Vettel and would be aiming to progress from hereon.
