2006 Mercedes-benz Sl-class on 2040-cars

Auto blog

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:

European automakers gear up for Brazilian production

Brazil is the place to be, apparently. Toyota has been investing in the South American country, as has BMW, which announced a $261 million investment in October 2012, on the heels of an Audi factory announcement in San José Chiapa. The high-end immigration is only set to continue, as Mercedes-Benz and Jaguar-Land Rover have both announced plans to set up manufacturing operations there.
Mercedes is the big news here, as its new facility will see the German manufacturer invest 170-million euros for production of its next-generation C-Class and upcoming GLA-Class. "Brazil is an important future market. With our local production we accept the challenge and take on the competition," noted Andreas Renschler, Management Board member for Production and Procurement at Mercedes-Benz Cars and Mercedes-Benz Vans. Production is expected to begin by 2016.
Jaguar-Land Rover, meanwhile, isn't so concrete in its plans. The news of its investment in South America comes from a job posting for a plant quality manager in Brazil that was picked up by the UK's AutoCar. "Portuguese language skills will be definite advantage" for interested candidates, according to the job listing. The want ad follows on the heels of remarks by Jaguar Land Rover's Dr. Ralph Speth, who said there are "very intensive discussions" with Brazil's government. Unlike Mercedes, there's no mention of which vehicles will be produced in South America, although AutoCar thinks the Freelander, sold in the US as the LR2, is a leading contender.

Vettel steals victory from Hamilton in Australian Grand Prix

MELBOURNE, March 25 – Sebastian Vettel made full use of the virtual safety car to sneak in front of Lewis Hamilton and hold off the frustrated champion to win Formula One's season-opening Australian Grand Prix on Sunday. The Mercedes engine's infamous 'party mode' that delivered Hamilton a blistering pole lap on Saturday could do little once Ferrari's Vettel nosed ahead when re-entering from pit-lane midway through the race at Albert Park. Pole-sitter Hamilton had appeared set to coast to victory with a clear pace advantage but the race turned on its head with the safety car, which was called after Romain Grosjean's Haas failed and rolled to a stop at turn two. In another bonus for Ferrari, Kimi Raikkonen finished third, fending off Red Bull's Daniel Ricciardo and leaving the unlucky Australian still searching for a first podium in his home race. "We got a bit lucky." Four-times world champion Vettel claimed a 48th overall win and his third in Melbourne following his victories at Albert Park last year and in 2011. "It was needless to say we got a bit lucky with the timing of the safety car," the German, who had started from third place and inherited the lead when Hamilton and Raikkonen had pitted earlier in the race, told reporters. "It's not the easiest track to pass." For Hamilton, the result was a bitter pill to swallow and had echoes of last year's race. Vettel also managed to re-enter in front of him from pit-lane in 2017 before burning away to victory while the pole-sitting Briton was blocked by traffic. Mercedes boss Toto Wolff said his team had miscalculated the margin between the cars during the safety car period. "We thought we had enough margin," he told the BBC. "It must have been a software bug in the system that caused us to get it wrong. We are digging deep now to understand where we had a problem." "I don't understand what's happened." Hamilton, who cockily spoke of "wiping the smile off" Vettel's face with his pole lap on Saturday, battled to keep positive. "Even now I don't understand what's happened," the 33-year-old told reporters. "I did everything I believe I was supposed to do." After the pit-lane setback, Hamilton drove hard to reel in Vettel and battled back after taking a slide at a corner that blew out the lead to nearly three seconds. But he finally waved the white flag in the closing laps to preserve the car for future races.