India, May 2 -- Shares in Aston Martin Lagonda sank Wednesday after the British luxury carmaker posted accelerating losses on falling sales and rising costs in an update that forecast a brighter outlook.

Loss after tax ballooned 88 per cent to £138.9 million ($173.4 million) in the first quarter from a year earlier, Aston said in an earnings release.

Beloved by fictional British spy James Bond, the brand's share price slid five per cent in reaction.

Revenue sank 10 per cent to £267.7 million, but the group predicted an improved performance in the second half of this year on rollout of new models.

"2024 is a year of immense product transformation at Aston Martin, with the introduction of four new models to the market before t...