Aston Martin Ends Production of Cygnet

Aston Martin Ends Production of Cygnet

Aston Martin will end production of its Cygnet minicar at the end of the year. The model based on the Toyota iQ was announced in 2010.

The price of the car is too high for customers to pay 31,000 pounds (14.000 KD), thats more than double the price of the iQ, which provided the engine, transmission and frame.

In 2012, Aston Martin reported an adjusted loss of £24.6m and reported sales of 3,800 units, down from 4,200 a year earlier.

Aston Martin has several major shareholders. Italian private equity firm Investindustrial owns a 37.5% stake, and it also has two Kuwaiti shareholders – Investment Dar and Adeem.

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