2003 Aston Martin Db7 Gt/ Limited Performance Edition on 2040-cars

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Aston Martin CEO Andy Palmer to leave in favor of AMG chief Tobias Moers

Aston Martin Chief Executive Andy Palmer is leaving the business as part of a management shake-up and will be replaced by Tobias Moers, CEO of Mercedes-AMG, a source familiar with the matter told Reuters on Sunday. The luxury carmaker said in an emailed statement that it is reviewing its management team but declined to comment on Palmer's fate. Palmer and Germany's Daimler, which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, also declined to comment. The Financial Times newspaper had reported earlier that the Aston Martin chief was going to leave as part of a shake-up of its leadership, with an official announcement expected on Tuesday. Palmer had not been informed of the upcoming announcement, the newspaper reported. Aston Martin, famed for being fictional secret agent James Bond's car of choice, 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. The company has been banking on its sport utility vehicle to drive sales in a new segment, and said production was on track. In January, dire conditions forced the company to bring in Canadian billionaire Lawrence Stroll who bought a roughly 20% stake for nearly 200 million pounds ($263 million), as the ailing carmaker sought to raise funds. The coronavirus pandemic and shutdowns caused by it have hit demand and forced factories around the world to suspend production, negatively impacting many industries, including car manufacturers. "We were obviously fairly significantly hit by COVID-19, starting with China in January but more clearly in what we saw as it came across towards Europe and the United States," Palmer told Reuters earlier in May. Related Video:

2023 Aston Martin DBX S shows its muscular-looking profile

Aston Martin is slowly taking the wraps off of a more powerful evolution of the DBX. Possibly assigned the S suffix, the hot-rodded family-hauler will stand proud as the world's most powerful luxury SUV when it makes its official debut online on February 1, 2022. The model remains shrouded in darkness, but the latest preview image published by the British firm is a lot more informative than the video it previously released. We can tell several styling cues differentiate the S and the regular DBX, including model-specific wheels and a bigger roof-mounted spoiler. It also looks like the quicker and more powerful variant rides lower, which hints at a series of suspension tweaks. As we've previously reported, the DBX S will likely land with a V8 engine rather than with a V12. Specifications haven't been released yet, but Aston Martin pledged that it designed the model as "the world's most powerful luxury SUV," a crown that will require over 670 horsepower to claim. We're guessing that the eight-cylinder in question will be a version of the Mercedes-AMG-sourced 4.0-liter found in the standard DBX, among other Aston Martin models. It will be twin-turbocharged, and it will spin the four wheels via an automatic transmission; nothing suggests that the S will be a hardcore, track-ready machine with a seven-speed manual transmission and a gutted interior. More information about the 2023 Aston Martin DBX S (assuming that's indeed what it's called) will emerge in the coming days, and its full reveal is scheduled for February 1, 2022. Sales should start shortly after with a base price pegged somewhere north of $180,000.   Watch us test drive the Aston Martin DB11: Aston Martin Crossover SUV Luxury Performance

Weekly Recap For 5.20.16 | Autoblog Minute

Senior Editor Greg Migliore recaps the week in automotive news, including a look at the Aston Martin Vanquish Zagato, two Volvo concepts, and the FCA Jeep airbag recall.