The reason why Aston Martin axed the Cygnet was because the Toyota iQ, on which it was based, is being dropped next year, claims Aston chief Ulrich Bez.

“We stopped the Cygnet as Toyota itself will stop the iQ in 2014 and we don’t want to invest any more,” he said.

Bez also revealed his disappointment and frustration that the Cygnet had not worked out as planned for Aston Martin, and outlined some of the developments Aston had wanted for it.

“I wanted to bring it to the US, but there was no support for it,” he said. “I wanted a supercharged engine, but there was also no support.

“We had a great start with [Toyota boss] Akio Toyoda, whom I still have a great relationship with,” Bez revealed. “But Toyota didn’t follow up the support like it does with Tesla and its marketing of other products.

“I think Aston did a good thing with the Cygnet and I’m disappointed it didn’t work out. It’s a great little car, particularly in London. It will be a cult car in the future and will be well looked after.”

Toyota countered that there are no plans to end iQ production and declined to comment further on Bez’s other remarks.

Dutch publication De Telegraaf is also reporting that the Toyota importer in the Netherlands is no longer importing the iQ, and will sell only the models it has left in stock. This is because it has heard from Toyota in Japan that production for Europe will cease in 2014.