A 16-year-old boy has been arrested in connection with a gunpoint carjacking involving a luxury vehicle that retails for more than $200,000.

Police say that a 38-year-old female victim parked her 2021 Aston Martin DBX in the Yonge Street and Avondale Avenue area on May 22 and attended a nearby store.

It is alleged that two suspects waited outside the store and then confronted the victim as she returned to her vehicle.

One of those suspects produced a handgun and then demanded the woman’s keys, police say.

She complied and both suspects got into her vehicle and drove away.

On Thursday, police executed a search warrant in connection with the case and took a male suspect into custody.

Police say that during the search officers recovered a prohibited extended firearm magazine and other items of evidentiary value related to the investigation.

The victim’s stolen vehicle has also been recovered.

The suspect, who is not being named due to the terms of the Youth Criminal Justice Act, is charged with six offences.

Police continue to search for the second suspect in the carjacking.

He is described as Black, short in stature and with a heavy build and should be considered “armed and dangerous,” according to police.