Luxury carmaker Aston Martin will slash its vehicle prices by up to $14,000 to be more competitive

• In an unusual move, Aston Martin will slash prices for multiple 2021 models.
• Car brands typically hike model prices year over year, but Aston will cut MSRPs by as much as $14,000.
• The 2021 Aston Martin DBX, the brand's first SUV, will cost $13,000 less than previously announced.

Vehicle prices typically go up hundreds or thousands of dollars with each new model year, but Aston Martin won't go that route in 2021. The British luxury carmaker will instead slash prices for a few of its six-figure models.

The 2021 Vantage Coupe will see a roughly $7,000 price reduction and will start at $142,086 including destination fees, CNET reports. The price of the 2021 Vantage Roadster will drop by $14,000 compared to the 2020 model, the report said,and retail for $150,086.

The new Aston Martin DBX, the brand's first SUV, will now cost $179,986 instead of the former $192,986 — a $13,000 decrease. The DBX is brand new, with the first model of the car rolling off the line a few months ago in July.

The pricing switch-up is part of Aston Martin CEO Tobias Moers' plan to "improve the sustainability and competitive position of the business," a company spokesperson told Business Insider via email.

"The Company continues to implement a strategy to rebalance the core business and has taken the decision to align its global pricing to give it headroom for more profitable products and variants it has planned for the future, which has seen a price realignment on certain models and derivatives in some markets," the spokesperson wrote.

The DBX is Aston Martin's late entrant into the increasingly popular ultra-luxury-SUV space, which has proved a massive boon for companies like Lamborghini, Porsche, and Rolls-Royce. Given the SUV's potential importance to Aston Martin's future, it's strange that the company would adjust the price so sharply and so quickly.

It's also notable that Aston Martin didn't leave it up to dealers to offer promotional pricing, opting instead for significant MSRP drops straight from the factory.

Even ultra-luxury brands haven't been immune to the auto industry's downturn, and Aston's pricing cuts may be a strategy for boosting sales. In June, Aston Martin said it planned to lay off 500 workers, while Bentley announced plans to cut almost a quarter of its workforce.