Aston Martin CEO says luxury markets uncertain

By Kevin Krolicki

LOS ANGELES (Reuters) - Sports car maker Aston Martin has made the investment needed to carry it through an uncertain 2009 and will review longer-term expansion plans as it watches for signs of recovery in the luxury market, the company's chief executive said.

"We have a financial crisis which now has gone all around the world. I think in some ways it started here in America but has now reached Russia and the Middle East," said Aston Martin Chief Executive Ulrich Bez.

"Even in the luxury market we see hesitation," Bez told Reuters on the sidelines of the Los Angeles auto show.

"Our dealers who used to just distribute cars and celebrate and open up the champagne -- those days are over. We have to work harder."

Islamic investment firm Investment Dar (TIDK.KW) owns a controlling stake in Aston Martin. The fund was part of a consortium that bought the automaker for about $950 million (£634.39) from Ford Motor Co (F.N) in March 2007.

In May, Aston Martin opened a new engineering test center next to the Nuerburgring race track in Germany. It has also opened up a new design studio and is pressing ahead with plans to build a new four-door Rapide model next year.

The Rapide is expected to compete with Maserati's (FIA.MI) Quattroporte.

Aston Martin will follow up by launching a limited series of 77 super sports cars powered by a 7-liter, V12 engine that it will sell at over $2 million each making it a contender for the title as the world's most expensive car.  Continued...