Aston Martin’s Kuwaiti owners are apparently looking to unload their majority stake in the English sports car maker, but proceedings have been slow to due Investment Dar Co.’s desire to recoup their $800 million purchase price.
While Investment Dar denies looking to sell Aston Martin, Bloomberg reports that the company is hurting for cash after failing to make a payment on an Islamic bond. In addition to Mahindra, Toyota is rumored to be exploring the possibility of buying Aston.
Toyota Motor Corp., Asia’s largest carmaker, hired an auditor to conduct a one-week study on buying a stake in Aston Martin, according to a person familiar with the matter. The analysis, which was preliminary and carried out less than two months ago, hasn’t advanced to a full-blown evaluation, the person said. Shino Yamada, a Tokyo-based spokeswoman at Toyota, declined to comment.
Even with Aston Matin’s advances in modular architectures, it’s tough to be an independent auto maker when economies of scale are so crucial when developing a new car profitably. And without a lucrative branding and merchandising operation like Ferrari (not to mention a parent in the form of Fiat), being absorbed by a larger auto maker is all but a given for Aston Martin.