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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:

Watch some vintage F1 cars blast up a Japanese mountain road

It's a rare treat to see classic Formula One cars racing anywhere, but watching them on a Japanese mountain road is absolutely sublime. The folks behind Motorhead from Japan took over the toll road's twisting stretch of tarmac to turn this impossible dream into a reality. The unusual opportunity of a closed mountain road would be a waste for only two vehicles, and there were plenty of drivers in amazing machines that wanted to blast up the hill. After the vintage F1 cars got their turn, some drifters in a Nissan GT-R and a Toyota GT86 added some tire smoke to the misty mountain air. A couple more GT-R racecars and some modern sports cars eventually joined them. Before the rain hit, this team had quite a party going on. This video features amazing camera work, but the music unfortunately drowns out the chance to hear these amazing racecars. If watching this leaves you wanting more, Motorhead released a video last year of another group of impressive performance vehicles on the mountain road.

Aston Martin DBX SUV spied up close towing, and we get interior shots

An Aston Martin SUV called the DBX is going to be revealed in the last quarter of 2019, and here's your newest batch of spy photos showing it out testing. There isn't much new to see on the outside, but our spy photographer managed to capture more detailed photos of the interior. Before you get too excited, know the interior is pretty much entirely unfinished. This particular DBX prototype seems to be a fairly early build, as everything on the inside looks cobbled together. If you peer through the rear windows you'll see what looks like some sort of rollcage and massive jugs meant to simulate the weight of passengers. Also, like before, there's a smattering of Mercedes parts in there. We see the Mercedes infotainment display, center console and center stack design, plus Mercedes seat controls. Curiously, those seat controls are on the tunnel separating the driver and passenger. Aston could get away with doing that, but with all the space an SUV offers, it seems somewhat unnecessary to package it thusly. We'll just assume nothing is final at this point, due to the state of confusion currently on display in the Aston's interior. We do have something interesting to look at on the exterior of the DBX, though. It's hauling something, and that something happens to be a Taylor dynamometer, according to the logo on the side. This kind of dyno is used to apply a measured load to the vehicle, in addition to simulating driving up and down slopes. This SUV is rumored to have AMG's 4.0-liter twin-turbo V8 under the hood, so it could have some heady towing capability. Aston seems intent on making this SUV do SUV things, so a solid tow rating could be in the cards. The wait isn't long at this point for the DBX, but Aston hasn't uncovered anything more than it did last year. With the actual announcement nearing, we hope to see more of the large Aston Martin bruiser soon.