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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 goes into limited production

Thanks to "unprecedented customer interest," Aston Martin has confirmed plans to build a limited production run of Vanquish Zagato coupes. Just 99 wealthy owners will get the privilege to park one of these beauties in their garage, and each will be built to order. Deliveries are expected to begin in the first quarter of 2017, so there may still be time to put in a request, should you have the means and the desire. The Aston Martin Vanquish Zagato debuted in concept form at the Concorso d'Eleganza Villa d'Este at Lake Como, Italy in May 2016. We loved it then, and we still love it now. The entire body is hewn from carbon fiber, with a 6.0-liter V12 delivering 576 horsepower to the rear wheels. That's good enough for a 0-60 run of 3.5 seconds, though this Grand Touring car won't really be about racing any stopwatches. Aston says the Zagato's suspension will be specially tuned for "a unique GT experience," which we assume means more long-distance comfort than race track dominance. This is the fifth time Aston Martin has teamed up with Zagato, starting with the DB4 GT racecar in 1960. The last time the partnership bore vehicular fruit was in 2011, when the V12 Vantage Zagato was unveiled. Check out the high-resolution image gallery at the top to see the new Aston Martin Vanquish Zagato in all its bright-red glory. Related Video: Featured Gallery Aston Martin Vanquish Zagato View 19 Photos Design/Style Aston Martin Coupe Luxury Performance Supercars zagato aston martin vanquish aston martin vanquish zagato

Lotus and Aston Martin to hook up?

This has been a tumultuous year for Lotus - to say the least - from the company being sold off back in January to its CEO Dany Bahar being fired in June to its questionable financial status and rumors of the British automaker being sold off to another automaker. First, we heard that Volkswagen was interested in acquiring Lotus and parent company Proton, a rumor that was later dismissed. Now Automobile is reporting that fellow Brit Aston Martin could be in the market to work with or possibly even merge with Lotus.
While this is pure speculation at this point, such a venture could prove to be beneficial for both independent companies. That's because with Lotus focused on lightweight, relatively affordable sports cars and Aston Martin producing high-end performance cars, there is virtually no product overlap between the companies. The article suggests that a person or company wanting to merge these two automakers would have to raise between $1.1 billion and $1.6 billion in order to make a go of it, however.
We're not sure what to think of this latest rumor, but anything that can help get the struggling brand back to health at least has our interest.