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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:

China's BAIC looks to invest in Daimler

Daimler and Beijing Automotive Group (BAIC) are already intertwined in China. Daimler is a 12-percent shareholder in BAIC Motor, the third largest shareholder in the passenger-car division of BAIC. They have a joint manufacturing venture Beijing Benz in which BAIC is the majority partner by one percent, a sales joint venture Beijing Mercedes-Benz Sales Service Co. in which Daimler is the majority partner by one percent, and Daimer says, "BAIC is our most important partner in China." Beijing Benz is ten years old this year. They'll become even closer if talks between the two concerning BAIC taking "a major stake" in the German conglomerate come to anything. Reuters reports that the two are in talks now, with BAIC Chairman Xu Heyi saying it should be resolved one way or another by the end of this year. If they agree, the China-based, Hong Kong-listed company will join Renault-Nissan and the Kuwait Investment Authority as Daimler's top shareholders. Some China analysts see a potential Daimler investment as a coup for BAIC, similar to BAIC's 2009 purchase of old Saab platform, engine, and transmission technologies, that would give it access to technologies it wouldn't have to develop on its own and hastening the development of its own cars. A deal is also seen as potentially opening up export possibilities for the Chinese company. Other analysts aren't sure that BAIC would get any useful technology, noting that that last deal between the two gave BAIC the outdated E-Class platform, but none of Mercedes' headline tech. If a deal is done, BAIC will join Dongfeng Group and SAIC as Chinese automaker investors in western automotive companies.

Mercedes-Benz C-Class Coupe looks just as banging as big brother

When Mercedes-Benz redesigned the C-Class, the new sedan was crafted as a sort of baby S-Class, both inside and out. So is it really any surprise that with the 2017 C-Class Coupe, MB has once again looked to its flagship model for inspiration? The new C Coupe is, for all intents and purposes, a scaled-down S-Class Coupe, featuring many of the same styling cues that make that big two-door such a stunner. The pert tail is set off by the same kind of duck-bill spoiler integrated into the rear decklid and horizontal taillights. A strong shoulder line emphasizes the aggressive slope of the roof and the high beltline, which if anything is more aggressive than what Mercedes penned for the S-Class Coupe. Up front, a strong grille is flanked by scale model's of the S Coupe's headlights, complete with LED lighting accents. It's a similar story in the cabin, where Mercedes scaled things down but really didn't skimp on style or materials. Expect the C Coupe's mechanicals to mirror those of its four-door counterpart. The C300, the only version of the new two-door to be announced so far, will use the same 241-horsepower, 273-pound-foot, 2.0-liter, turbocharged four-cylinder as the C300 sedan. We'd expect the rest of the engine range to get fleshed out over time, with the more potent C400, C450 AMG Sport, and C63 AMG coming online. While not specified, a seven-speed automatic should be on hand to funnel power to either the back wheels or to a 4Matic all-wheel-drive system, here in the C300. As for optional extras, Mercedes specifically mentions an Airmatic suspension, a vast suite of safety systems, and a 360-degree camera, to name just a few. As with the engine lineup, expect the options sheet to mimic the C-Class Sedan. You can read more about the new C-Class Coupe in the attached press release. We've also embedded a hefty gallery of images at the top of the page. The new C Coupe will make its auto show debut at next month's Frankfurt Motor Show, and will hit dealers in the US next this spring. Related Video: The all-new MY2017 C300 and C300 4MATIC Coupe Seduction of the heart and mind Stuttgart – Athletic and sporty, the vivid, sensual design of the new C-Class Coupe cuts a fine figure on the road and embodies modern luxury. At the same time, its interior raises elegance and style to a sporty level.