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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:

Aston Martin Vanquish Zagato Volante is the belle of the Pebble Beach ball

While Aston Martin is showing off the Vanquish Zagato Coupe for the first time in North America, it's also using the Monterey Car Week to confirm a convertible version of the stunning supercar. Limited to just 99 cars – many of which will be spoken for this week by those visiting Aston's Carmel, California pop-up shop – the Volante will share the coupe's enhanced V12, cranking out 592 horsepower. The 0-60 time of 3.7 seconds is almost as quick as the 3.5 touted by the new DB11. And, of course, the topless models will distinguish themselves in several ways aesthetically. The Vanquish Zagato Volante gets the same rounded taillight reflectors and "bladed LED technology" of the Vulcan supercar. Lower carbon fiber sills that run the length of the car add a pronounced, sporty emphasis. Zagato's trademark twin cowls blend into the rear deck, concealing the folded top used in the Vanquish Volante. Design director Marek Reichman says the Zagato version is more muscular and flowing that the coupe. The interior gets the Zagato "Z" quilt pattern stitch on the seats and doors, and an embossed "Z" on the headrests and doors add additional flourish. The Vanquish Zagato Volante is the latest result of Aston's partnership with the Italian design house dating back to the 1960 DB4 GT Zagato race car. Aston says this latest Zagato model is aimed especially for the North American market, much like the 2003 DB AR1, an open-topped Zagato-bodied DB7 that was also limited to 99 units and is now considered a collectible. Aston's pop-up shop this week attracted enthusiasts and owners alike, and featured the cream of the DB lineup, the iconic DB5, DB10 from the latest Spectre Bond film, and, of course, Aston's newest series-production GT car, the DB11. Check out the new Vanquish Zagato Volante in the gallery up top, and the brand's pop-up shop below. Related Video: Featured Gallery Aston Martin Vanquish Zagato Volante View 9 Photos Related Gallery Aston Martin's pop-up shop at Pebble Beach View 9 Photos Design/Style Misc. Auto Shows Aston Martin Convertible Luxury Performance Pebble Beach zagato

Aston Martin boss says DBX is about securing the future

The Aston Martin DBX was a revelation when it debuted at the 2015 Geneva Motor Show. Not only did the concept evolve the British brand's traditional shape into a high-riding crossover coupe, there were electric motors to power each wheel. Just a few weeks ago, we learned that the company secured $306 million in funding to actually bring the DBX to production. Now, CEO Andy Palmer is talking about just how important the model is for the future. With the DBX moving into such a radically different segment than the rest of the lineup, the model gives Aston Martin the opportunity to go after a new group of customers. "You can't create enough working capital with just 7,000 cars a year whichever way you look at it. You've got to extend the portfolio somewhere, and I'd rather do this than sell caps and t-shirts," Palmer said to Auto Express, taking a slight dig at Ferrari. While Aston calls the DBX a crossover, its coupe-like lines don't look like any other vehicle in the segment, especially other high-style CUV attempts like the BMW X6 and Mercedes-Benz GLE-Class Coupe. Apparently, that differentiation is entirely on purpose. "We think there is a different space to the traditional SUV. Why? Because we make beautiful cars, and it's hard to make a beautiful SUV. It's hard to make a box beautiful," Palmer said to Auto Express. The production DBX will gain two more doors for the start of production in 2019, according to Auto Express. The high-performance electric powertrain will remain, though, and Aston will aim for a range of over 300 miles. Earlier reports also suggested that the CUV could be produced at a new factory in the US. Aston Martin isn't abandoning its performance legacy entirely, though. The DBX is just one part of Palmer's Second Century plan, and the other major pillar is replacing every model in the brand's lineup by the end of the decade. One of them has already been spotted testing. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.