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Aston Martin's losses nearly doubled on lower sales, but carmaker projects growth from new models

LONDON — Luxury carmaker Aston Martin on Wednesday reported widening losses in the first quarter, as the company stopped production of its core models ahead of a launch a new range of vehicles later this year.

Adjusted loss before tax nearly doubled to £110.5 million ($137.8 million) compared to a loss of £57.3 million in the previous year. Analysts had expected a £93 million first-quarter loss, according to Reuters.

This is a breaking news story and will be updated shortly.

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