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Aston Martin confirms Mercedes-AMG boss Moers to replace CEO Palmer

Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer, who stepped down on Monday. The Financial Times newspaper reported over the weekend that Palmer would step down, before he had been informed. A source familiar with the situation had also confirmed to Reuters the planned move. "The board has determined that now is the time for new leadership to deliver our plans," Lawrence Stroll, Aston Martin Lagonda's Executive Chairman said. The company said Moers, who will be based at its headquarters in Warwickshire, had built a reputation for transforming businesses in tough environments during his 25 years in senior roles at Daimler. Germany's Daimler AG owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines. "Under Tobias’ leadership, Mercedes-AMG has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment," Aston Martin said in a statement. "TobiasÂ’ focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness." Aston Martin has seen its share price plummet since floating in October 2018. The 107-year old British luxury carmaker earlier this month posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "All of my and TobiasÂ’ energy will be dedicated to building on the CompanyÂ’s inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become one of the pre-eminent luxury car brands in the world," Stroll said. Related video:

Aston Martin is building eight Valkyrie prototypes, here's the first trio

Aston Martin and Red Bull Racing are still developing the high-performance Valkyrie supercar, and recently, Formula One drivers Max Verstappen and Alex Albon were given the opportunity to test out the prototypes. Verstappen and Albon were given the reins to verification prototype 1 (VP-1), while never-before-seen VP-2 and VP-3 lapped Silverstone at the hands of Aston Martin test driver Chris Goodwin and Aston Martin Racing World Endurance Championship drivers Darren Turner and Alex Lynn.  After publicly unveiling VP-1 at the 2019 British Grand Prix, Aston Martin recently brought two new verification prototypes into the fold. Aston Martin has been using the Silverstone circuit near Northampton, England, for its testing process, and it seems that will continue for the rest of the verification prototypes. In total, Aston Martin will build eight.   Aston Martin collects data and observations not only from its own test drivers and engineers but from its professional drivers too. For Albon, it was his first time seeing the car in person. In a press release, Albon offered some details about how the car will position itself to its customers.  "Obviously there’s still some development to do, but already it feels very good, especially the balance between the corners," he said. "ItÂ’s light; it feels sharp. Sure, compared to an F1 car, youÂ’re missing the outright downforce, but you still feel the Gs in the corners and it definitely reacts closer to an F1 car than a normal road car."  Aston Martin plans to have the Valkyrie tuned and ready for customers in the coming months, but don't expect deliveries to begin until the second half of the year. In related news, Road & Track cites a Racer report that says Aston Martin will pull back from its intentions to race the Valkyrie in the 2020–2021 World Endurance Championship and Le Mans. The report, which says a formal announcement is coming February 19, comes shortly after news that Aston Martin received an investment from Canadian billionaire Lawrence Stroll. 

The 11 best scenes from the 2015 Goodwood Festival of Speed

Over the last three days, the Goodwood Estate has played home to the eponymous Festival of Speed. Thrown by the biggest gearhead in the British aristocracy – Charles Gordon-Lennox, the Earl of March and Kinrara – the Festival of Speed is essentially a tremendous, gasoline-fuelled party, complete with a very large lawn sculpture, that features the world's hottest, weirdest, fastest, and loudest race, production, and historic models. While there are quite literally dozens and dozens of videos from the event – not to mention the full-day replays (of which only day one is available, at present) – we've sifted through them to pluck away the very best. There's stuff from the official Goodwood YouTube channel, as well as several videos from automakers and other third-party channels, and it's all available below. 2015 Ford Mustang GT350R Looks Barely Controllable If you thought the highest-performance Ford Mustang would somehow get more tractable or civilized once it moved to an independent rear suspension, this video shows you have nothing to worry about. Watch as an unnamed driver wrestles the new Shelby GT350R and its flat-plane, 5.2-liter V8 up the hillclimb circuit. Even with the new suspension and sticky tires, this Mustang wants to go any direction but straight, especially following its launch. 2016 Ford Focus RS, Is Very Loud, Blue Ken Block makes his first appearance on our list. Before he steps into his Hoonicorn Mustang, though, the Gymkhana expert tackled the hill in the all-new Focus RS. The vicious bellow of the 2.3-liter, turbocharged four-cylinder is the star of this commentary-free video, although the gorgeous Nitrous Blue paint job is a nice accompaniment, as well. 1965 Ford Mustang Hoonicorn Runs Hill, Nearly Kills Lord March Mr. Block's two runs behind the wheel of the Hoonicorn were, unsurprisingly, very eventful. While one attempt goes off without a hitch, seeing the American rally driver slip and slide his way to the top of the hill while taking a short break for a donut, the other is slightly more dramatic. Block, along with Lord March in the passenger seat, carries a bit too aggressive an angle into a turn and nearly puts the NASCAR-powered Mustang into the hay bales. Check out the first video above, and the second one below. Kimi Raikkonen Makes Us Miss F1's V8 Era The latest Formula One cars have been maligned for the lackluster noise produced by the new 1.6-liter, turbocharged V6.