Luxury British car manufacturer Aston Martin is ditching its Cygnet supermini after dismal sales.
The firm had originally predicted to sell around 4,000 units a year, with the aim of appealing to well-off city dwellers.
However, it seems that the appeal of a brand made globally famous in several James Bond films was far outweighed by the hefty £31,000 price tag. The company failed to sell even 150 vehicles.
The news is somewhat unsurprising given that the appeal of conventional city cars lies, for most people, within the price.
Unquestionably, the Cygnet does not represent good value for money. To put things into perspective, for less than £31,000 you can buy a new BMW 5 Series, a Jaguar XF, a Volvo S80 or 5 Dacia Sanderos. Yes, 5.
Ian Fletcher, an automotive analyst at research consultancy HIS, commented on the compounding problems of a company which lost £34.1 million last year. He said: "The Cygnet was intended to catapult the brand into a new market but at roughly double the price of many competing cars in that segment, it was misjudged by Aston Martin.
"The premium supermini market is a good place to be at the moment but Aston got it wrong in thinking putting a grill and a fancy interior on what was basically a Toyota iQ would make people buy it."
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