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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:

Check out Christina Nielsen, the 23-year-old Dane leading the IMSA GTD series

Thanks to hard driving, a good car, consistency, and four podiums this season, 23-year-old Christina Nielsen from Horsholm, Denmark owns the lead of the GT Daytona class in the IMSA Tudor United SportsCar Championship. It's a slim lead at 199 points, just two points over Christopher Haase and Dion von Moltke, co-drivers of the #48 Paul Miller Racing Audi R8 LMS who are second and third and both on 197 points. Nielsen drives the Aston Martin Racing #007 TRG-AMR V12 Vantage GT3 in both USCC and the GTA class of the Pirelli World Challenge. Kuno Wittmer is her co-driver in the USCC, you might remember him as the winner of the driver's championship with the short-lived Chrysler factory team. TRG-AMR recently inducted the Canadian and 17-year-racing veteran to the be the team's number one development driver and be a mentor to Nielsen. Nielsen is the daughter of a Danish sports car racer but she only started racing in 2007 when a friend took her to a kart track. She said she got hooked on that first visit, and in 2011 she finished third in the Karting World Championships. Two years later she won the B Championship at the German ADAC GT Masters with 14 podiums in 16 races, including two victories. Last year she drove in the Patron Endurance Cup and Porsche GT3 Cup Challenge, this year she graduated to TRG-AMR. There are three races left in the USCC season, and Nielsen said she likes the upcoming tracks and the team's chances. You can check out her race-craft in the two videos below. News Source: IMSAImage Credit: Brian Cleary/Getty Images Motorsports Aston Martin Coupe Racing Vehicles Videos uscc

World's Largest Collection Of James Bond Cars On Sale

A Miami real estate developer is selling his entire massive collection of James Bond memorabilia. Valued at $33.25 million, the collection is considered the largest in the world, and will only be sold to a buyer willing to take the whole thing. Michael Dezer began buying Bond cars in 2011, when he snatched up dozens of the super spy's on-screen rides from the James Bond Museum in Keswick, England, Autoblog reports. Since then, Dezer has amassed 59 cars, the rides coming from movies like Goldeneye, Skyfall and The Spy Who Loved Me. The ensemble also includes boats, tanks, jet skis, motorcycles and thousands of other pieces of memorabilia. The lucky buyer of this collection would even get the yacht used in From Russia With Love. An agency in the United Kingdom is handling the sale of the collection. Related Gallery Editors' Picks: The Most Beautiful Cars On The Road View 10 Photos Aston Martin Automotive History Ownership selling famous cars