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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:

Mercedes-AMG GT pressed into service as DTM safety car

DTM is one of the most competitive, fast-paced touring car series in the world. So to set the pace, the marshals need a pretty fast car as well. And that's just what they got with the new Mercedes-AMG GT pictured here. Marking its debut at the Lausitzring speedway this weekend, the AMG GT S safety car is based closely on the road-going model, but like the version that's already in use in Formula One, it's been modified for safety-car duty. That means a low-profile light bar mounted to a carbon-fiber air scoop on the roof – both tested in a wind tunnel – as well as the front splitter and rear wing from the optional Aerodynamics package, and the optional upgraded rolling stock. Inside it's got racing buckets, six-point harnesses, a flat-bottom steering wheel, and special radio equipment. Otherwise it's essentially the same as the road-going model, right down to the 4.0-liter twin-turbo V8 and seven-speed dual clutch transmission. After all, with 510 horsepower on tap, it ought to be able to stay out ahead of the 490-hp touring cars currently competing in DTM. The new safety car replaces the C63 AMG Black Series coupe that Mercedes previously contributed to the effort, and will alternate with the vehicles furnished by rivals Audi and BMW from race to race. Related Video: Mercedes-AMG GT S: new Safety Car for the DTM: From Formula 1® to the DTM Affalterbach. A new Safety Car celebrates its DTM premiere: at the second DTM race at the EuroSpeedway Lausitz (29 to 31 May 2015), the Mercedes-AMG GT S is set to be deployed for the very first time. The new sports car will help to ensure maximum safety on the race track in the world's most popular touring car series. In technical terms, the 375 kW (510 hp) eight-cylinder sports car is for the most part the same as the series production vehicle – just like its counterpart from the FIA Formula 1 World Championship™, the Official Safety Car. In its road-going guise the Mercedes-AMG GT S has turned heads since its market launch in March 2015 and now the sports car is also taking to the DTM stage. The new season of the German Touring Car Masters (DTM) got under way during the first weekend of May in Hockenheim. The second DTM race taking place at the EuroSpeedway Lausitz at the end of May will see the Mercedes-AMG GT S make its first appearance as the official Safety Car.

Mercedes pickup could have Nissan DNA

Daimler and the Renault-Nissan Alliance are already close partners. Now it seems that the upcoming Mercedes-Benz midsize pickup might have a little Nissan DNA in it, too. Or maybe not, depending on how you interpret comments by Renault-Nissan CEO Carlos Ghosn. "I don't want anybody to think that because they announced a pickup truck, they have to make it with us. Not at all," Ghosn said at the New York Auto Show, according to Automotive News. "They are completely free to do it by themselves, to do it with somebody else, etc., and also, or to do it with us." The Mercedes Vans division is responsible for the truck's development, and the pickup is aimed at the popular global midsize segment against vehicles like the Ford Ranger and Toyota Hilux. There's no mention of any plans for the model in North America. Instead, Mercedes wants to focus on Latin America, South Africa, Australia and Europe for a launch slated before 2020. Ghosn was quite clear there was no decision either way as of yet. "Is this something that can eventually be on the table? I told you, everything is on the table between us," he said, according to Automotive News. If the two companies do decide to collaborate on a midsize truck, the timing would seem perfect. Nissan completed development of its NP300 Navara in 2014, and the automaker has been at work at least evaluating powertrains for the next Frontier possibly for 2019. Related Video: