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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:

Aston Martin and Airbus reveal ACH130 AM helicopter collaboration

The Aston Martin DBX is one of the brand's several recent forays into novel territory. In November, the carmaker unveiled a motorcycle co-created with Brough Superior, the AMB 001. A month later, the brand teased a liaison with Airbus Corporate Helicopters with the ACH130 model at its heart. Here we have the result after 12 months of planning, the ACH130 Aston Martin Edition. The exterior lines of the six- or seven-seat chopper most often used for "sightseeing services, charter operators, and emergency medical services" are unchanged. Aston Martin's creative hand came in composing four exterior color combinations and an interior embellished with the carmaker's hallmarks. The pictured ACH130 AM wears livery in Stirling Green that fades into Jet Black underneath, accented with Skyfall Silver cowlings. The remaining three choices use Xenon Grey, Arizona, or Ultramarine Black as their primary colors. Seats profiled to recall Aston Martin road cars can be dressed in hides of colored Oxford Tan, Pure Black, Cormorant, or Ivory. Brogue detailing decorates the strip of Pure Black ultra-suede running down the center of the front seatbacks, stopping at hand-crafted leather satchels affixed to the lower portions. The rest of the interior is trimmed in matching leather and Pure Black ultra-suede, with embossed Aston Martin wings "tastefully positioned throughout the cabin," and a plaque inscribed with the edition number of the particular ACH130 AM. The bird can be ordered as of now, with deliveries to begin this quarter. Aston Martin and Airbus didn't release the price, but a standard ACH130 costs $3.3 million before frills. That makes the ACH130 AM the most wallet-friendly offering among Airbus' carmaker collaborations; the Mercedes-Benz ACH145 costs about $8.5 million, the ACH160 developed with Peugeot's design consultancy requires roughly $18 million. Related Video:

Aston Martin gets to work on DB9 successor

Introduced over a decade ago, the DB9 is by now the oldest model in the Aston Martin lineup. It predates the arrival of the V8 Vantage, outlasted the Virage and DBS that spun off from it, and outlived the One-77, V12 Zagato and Cygnet that have all come and gone over the length of its tenure. But soon the current DB9 will be retired. In its place, we're looking forward to an all-new model to spell the beginning of the end of Aston's long-serving VH architecture and restrict the ubiquity of the 6.0-liter V12. In their place, as we well know, the DB9's successor will be based on an all-new aluminum platform and be powered by a 4.0-liter twin-turbo V8 to be furnished by Mercedes-AMG. Though AML insists that the engine is being developed by both parties and built by AMG to Aston's exact specifications, Autocar reports that it will be the same unit being developed for Mercedes' own models, with modifications limited to ECU, exhaust and possibly turbo boost, but with no internal modifications. Even as-is, the engine is expected to produce almost as much power as the DB9's current V12 but a bit more torque – which, combined with the lower weight, ought to make Aston's new core GT quicker than the one it will replace. Rather than using the new eight-speed automatic introduced for the latest twelve-cylinder Vanquish and Rapide S, the current DB9 is expected to continue using the old six-speed slushbox until its replacement goes with Mercedes' new nine-speed unit. Expect a step forward in styling but with familiar Aston cues, potentially previewed by the Zagato one-off pictured above and the new Lagonda sedan, when it arrives in 2016. The big question is what Aston will call the next-gen DB9. It skipped the DB8 when naming the replacement for the DB7 – ostensibly to show how big a step it was, but probably also to avoid confusion over its cylinder count. We couldn't imagine Aston going backwards in its naming scheme, but whether it sticks with DB9, moves on to DB10 or jumps to DB11, one thing's for sure: it will definitely carry the initials of the company's former president David Brown. When reached for comment on the development of the DB9 successor and what that would mean for the future of the V8 Vantage, Aston Martin spokesman Matthew Clarke told Autoblog: "Part of our agreement with Mercedes is specifically for V8 engine development but never have we anywhere made any comment as to where such engines would or wouldn't be used."