Aston Martin Lagonda on hold

The Lagonda was first shown in concept form at the Geneva Motor Show earlier this year, but public response to the car has been less than positive, which some believe is the real reason for the cancellation of the project.

According to Aston Martin's CEO Ulrich Bez, as revealed by American magazine Inside Line, however, the Lagonda has been put on indefinite hold due to the tough economic climate, despite" several sources ready to invest upward(s) of a quarter-billion pounds" in the project.

Bez added, "The timing right now is simply wrong. We have some work to do yet, and it takes a lot of investment."

Aston Martin chairman David Richards was said to be unhappy with the concept and the reception it received, and sources have stated that no one wanted to take "ownership" of the project.