JAMES Bond's favourite car company, Aston Martin, passed back into British hands today.

American owner Ford said the Warwickshire-based luxury car maker was being sold to a consortium led by Banbury motorsport chief Dave Richards.

Aston Martin, whose cars have featured in a number of Bond movies including the latest 007 film Casino Royale, has been wholly owned by Ford since 1994.

Dating back to 1914, the company has produced such vehicles as the DB5, the Vantage and the Virage and has always been seen as the stylish, quintessential British sports car firm.

Current Aston Martin boss Ulrich Bez, who has presided over a huge leap in company sales in recent years, will be chief executive, while Mr Richards will be joining the board as non-executive chairman.

Mr Richards said: "This is an incredible opportunity - Aston Martin is one of the world's most iconic brands.

"We are confident we now have all the right ingredients to take Aston Martin to even greater heights."

Mr Bez said: "This new partnership is a tremendously exciting opportunity for Aston Martin.

"Under the ownership of Ford we have become a successful, profitable company and I will be working with the new owners to build on this great foundation.

"It is a new beginning which will give the company the opportunity to attain an even higher level of excellence.

"This next stage in the company's history promises to be the most exciting yet. David Richards and I have a great deal of mutual respect for each other and we are equally passionate about realising the brand's full potential."