Aston Martin CEO Dr Ulrich Bez has revealed the Cygnet was axed because Toyota is planning to phase out the iQ.

Speaking to Autocar, Bez said “We stopped the Cygnet as Toyota itself will stop the iQ in 2014 and we don’t want to invest any more [money]."

The executive also revealed he wanted to bring the Cygnet to the United States and offer it with a supercharged engine but the company didn't get any support from Toyota. He went on to criticize their former Japanese partner by saying "Toyota didn’t follow up the support like it does with Tesla and its marketing of other products."

Despite the Cygnet's less than stellar pedigree, Bez contends "It’s a great little car, particularly in London. It will be a cult car in the future and will be well looked after.”

Gallery: Aston Martin Cygnet axed because the Toyota iQ is getting phased out - report

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