Aston Martin’s tiny Cygnet raises big questions
Aston Martin formally debuted a new model at the Geneva Auto Show this week. It’s called the Cygnet and you’re probably expecting a sleek sports car with an unquenchable thirst for fuel and a top speed approaching that of a jet fighter.
The Cygnet might surprise you then because it only has about 97 horsepower. It’s also based on a fuel-sipping Toyota city car and is nearly as small as the Smart ForTwo. And it’s expected to cost $45,000-$75,000.
I’ll pause for a moment while you finish laughing.
Aston Martin’s CEO, Dr. Ulrich Bez, explains that the Cygnet was built for Aston Martin owners who desire an environmentally-friendly car for small errands and commutes. In London, where the buzz is all about carbon footprints and where drivers are taxed by the amount of carbon dioxide their vehicles emit; politically-correct cars like the Cygnet begin to make sense. Bez described early plans to sell the Cygnet to existing Aston Martin owners only and likened it to, “an exclusive tender for a luxury yacht.”
The reaction from the US motoring press has been overwhelmingly negative so far, with many journalists predicting that the Cygnet will damage the sports cars for gentlemen brand image that Aston Martin has worked so hard to build.
Forget the brand for a moment, though, and take a look at the larger trend the Cygnet represents: small premium cars.
Europeans have enjoyed them for years and American drivers are just starting to experience the concept through vehicles like the Audi A3, Mini Cooper, BMW 1-Series, and Volvo C30. Globally, more of these cars are on the way. Lexus recently debuted the CT 200h and Audi took the wraps off the new A1.
What makes the Aston Martin Cygnet so unique is that it’s the very first small premium car to come from an ultra-luxury brand. But will it also be the last?
Demographic data indicates that the small premium car segment is poised for growth in the US, driven largely by a surge of new car buyers from the Millenial generation (those born from about 1977-2000).
Within the automobile industry, Millenials are known to demand high levels of luxury and tech features no matter a car’s price point. They also have high expectations for environmental friendliness and don’t accept the notion that only big vehicles are allowed to have the latest technology and nicest styling.
Small premium cars embrace these same values and it’s likely that their popularity will grow as more Millenial buyers come of age and develop their careers.
What remains to be seen is if a small premium car from an ultra-luxury brand can succeed. The Aston Martin Cygnet seems a poor example because it strays too far from its sports car brethren in looks and performance.
Step behind the wheel of an Audi A3, for instance, and you’ll find that it feels like other Audi products. Will the Cygnet do the same for Aston Martin? Probably not.
If nothing else, the Cygnet does raise some very interesting questions for the industry to ponder. Are small premium cars in the future for ultra-luxury brands? And if so, what would it take for these cars to deliver on the promises of their brands?
