Aston Martin Lagonda halved losses in 2023 as average selling prices hit record highs, the British luxury auto giant announced Wednesday.

Pre-tax losses totalled £240 million ($303 million) last year, down from £495 million in 2022, the company said in a results statement.

Revenue jumped 18 percent to £1.6 billion, added the carmaker whose top-end vehicles are beloved by fictional British spy James Bond.

"In 2023, Aston Martin delivered..., driven by continued strong demand for our ultra-luxury, high-performance products," said chairman Lawrence Stroll.

"The rich mix of sales, driven by our ongoing commitment to product innovation, supported growth in average selling prices to record levels."

Aston Martin is pushing ahead with the electrification of its cars, with an investment of about £2 billion in the next few years.