European sales were also down.

Aston Martin share prices fell by 26 percent after the company lowered its sales forecast and slashed its planned investment.

Demand for the company's products in the second quarter fell by 22 percent in the UK, its biggest market; while demand across the rest of Europe dropped by 28 percent. The sales slumps came despite gains in Asia. Meanwhile Aston Martin also had to contend with increased costs as Brexit took hold.

As a result, Aston Martin has dropped its annual sales prediction from 7,100-7,300 units to 6,300-6,500.

With a provision of £19 million pounds accounted for during the second quarter, and its revised sales forecasts, Aston Martin is expecting to post returns of around eight percent at the end of this year.

Aston Martin Valkyrie At Silverstone Circuit

"We are disappointed that short-term wholesales have fallen short of our original expectations," Aston Martin CEO Andy Palmer said. "We are today taking decisive action to manage inventory and the Aston Martin Lagonda brands for the long-term."

The setback is another blip for Aston Martin as it strives to show investors it can compete with the likes of Ferrari and McLaren. Since shares were first offered at £19 each last October, the stock has more than halved, according to Automotive News Europe.

"Aston Martin is a medium-term story and its future is unlikely to be defined by 2019's performance," Goldman Sachs analysts led by George Galliers wrote in a note to the agency. "Nevertheless, concerns around operating risk as well as questions on Aston's ability to sustain volumes on vehicles that are more than 12 months old are all areas of concern for investors."

Gallery: Aston Martin DBX Prototype