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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:

Race Recap: 2015 US Grand Prix was wet, wild, and historic

Hurricane Patricia made landfall in Mexico this weekend, and made her presence known throughout the South. For two of the three days of the grand prix weekend it rained non-stop in Austin, so badly on Saturday that qualifying had to be postponed until Sunday morning, and then it only stayed dry enough to conduct the first two sessions. At the end of a tricky, slippery Q2 Nico Rosberg had put his Mercedes-AMG Petronas on the front row, one tenth ahead of teammate Lewis Hamilton. The German had done the best he could to keep his hair-thin chances of a World Championship fight alive. Daniel Ricciardo lined his Infiniti Red Bull Racing chassis in third ahead of teammate Daniil Kvyat, both drivers having moved up a place because Ferrari driver Sebastian Vettel took a ten-spot grid penalty for using a fifth engine and dropped to 13th. Continuing the two-up theme, Sergio Perez and Nico Hulkenberg were fifth and sixth for Force India. After that came variety: Felipe Massa in seventh for Williams, Max Verstappen for Toro Rosso in eighth, Fernando Alonso looking good in the rain for McLaren in ninth, and Romain Grosjean for Lotus in tenth. When the lights went out, Turn 1 set the tone. Pole position is on the outside line at Circuit of the Americas, and Hamilton had got himself far enough under Rosberg by the time the two got up the hill that Rosberg had to stick to the outside through the corner. At the corner exit Hamilton used the entire track, pushing Rosberg wide, their cars touching. As Rosberg left the track and dropped back to fourth, Hamilton radioed to the team to say the contact was unintentional. The two Mercedes' and two Red Bulls animated the front. Rosberg passed Ricciardo at the end of a Virtual Safety Car period employed to let the marshals clean the debris at Turn 1. Kvyat started chasing down Hamilton until the Russian ran wide and let Rosberg and Ricciardo through, then Rosberg ran wide on the next lap to let Ricciardo through. On Lap 15, Ricciardo passed Hamilton through the esses to take the lead. After the first round of pit stops the Aussie still had the lead, followed by Rosberg, Kvyat, Hamilton, and Vettel. Then Rosberg got around to take the lead and Vettel closed in on Hamilton as the Brit duked it out with the Russian. Rosberg showed excellent speed, building up a nine-second gap on Ricciardo, but a Safety Car period erased that when Marcus Ericsson had to park his dead Sauber on the inside of the track after Turn 10.

Mercedes calling in CLS, E-Class over rubber seal fire risk

Mercedes-Benz has discovered a problem with certain E-Class and CLS-Class models and has notified the National Highway Traffic Safety Administration of a recall it's undertaking to resolve the issue. The problem is with the rubber seal at the back of the engine bay, which according to the statement below "may temporarily stick to the hood when it is opened and then may fall into the engine bay when the hood is closed." If it then comes into contact with the exhaust system, it could start a fire. And fires in the engine bay are never a good thing, unless they're contained entirely within the combustion chamber. The issue affects an estimated total of 147,224 E-Class and CLS-Class vehicles, all told, across America – including four-doors, wagons, hybrids and AMG performance models (but no E-Class coupes or convertibles) from the 2013-15 model years. To fix the problem, Benz dealers will simply need to attach four additional clips to keep the seal in place, and will start doing so midway through next month. RECALL Subject : Rubber Seal may Dislodge and Contact Exhaust Report Receipt Date: FEB 13, 2015 NHTSA Campaign Number: 15V088000 Component(s): STRUCTURE Potential Number of Units Affected: 147,224 Manufacturer: Mercedes-Benz USA, LLC. SUMMARY: Mercedes-Benz USA, LLC. (MBUSA) is recalling certain model year 2013-2015 E350 Sedan, E350 4Matic Sedan, E350 4Matic Station Wagon, E400 Hybrid Sedan, CLS 550 CGI, and CLS550 4Matic, 2013-2014 E550 4Matic Sedan, 2013 E63 Sedan, E63 Station Wagon and CLS63, 2014-2015 CLS63 4Matic, E63 4Matic Sedan, E63 4Matic Sedan "S", and E63 4Matic Station Wagon, 2015 CLS400, 2015 E400 Sedan, E400 4Matic Sedan and CLS400 4Matic and 2014 CLS63 "S". The affected vehicles have a rubber seal at the back of the engine bay that may temporarily stick to the hood when it is opened and then may fall into the engine bay when the hood is closed. CONSEQUENCE: If the rubber seal falls into the engine compartment, it may contact parts of the exhaust system, increasing the risk of a fire. REMEDY: MBUSA will notify owners, and dealers will attach four additional retaining clips to the rubber seal, free of charge. The recall is expected to begin by mid-March 2015. Owners may contact MBUSA customer service at 1-201-573-5339. MBUSA's number for this recall is 2015020001. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.