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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:

'55 Mercedes Gullwing racer expected to sell for $6 million

RM Sotheby's has a Gullwing up for auction. Not just any Gullwing, but one of just four prepared by the factory for racing. And it's expected to fetch $6,000,000, (give or take a million) when it crosses the auction block next month in New York. Chassis number 5500640 is billed as "the rarest and most desirable W198 Gullwing ever presented for public auction," and it's not hard to see why. It was used for both racing and testing purposes, including an entry in the notoriously grueling Tour de France by none other than Sir Stirling Moss. He placed it second only to the Marquis de Portago in his Ferrari 250 GT TdF, often outperforming the Ferrari in stages of the event. It was in the possession of one owner since 1966, who stored it for 40 years before passing it on to his son in 2008, who in turn underwrote a comprehensive three-year restoration project and has now put it up for auction. Gullwings are invariably the most sought-after post-war production Mercedes when they come up for auction. The highest price one has ever garnered, according to the records at Sports Car Market, was $4.62 million paid in early 2012 at Gooding & Company's Scottsdale auction. This example, however, stands to far surpass that amount to set a new record. It's just one of several notable lots consigned for the Driven By Disruption event, set to take place on December 10 in New York. Alongside it, RM has the Lamborghini Concept S (valued at over $2.4 million), a 1962 Aston Martin DB4 GT Zagato (over $16m), and a 1956 Ferrari 290 MM driven by Juan Manuel Fangio ($28m). In short, it ought to be a significant sale, and we'll report the results once they're in.

Mercedes-Benz S500 Plug-in Hybrid ready for 'major role' in urban areas

We finally got a clear look at the Mercedes-Benz S500 Plug-in Hybrid at the Frankfurt Motor Show last fall, but it took until this week to learn what the vision (see what we did there) is that Mercedes-Benz has for the PHEV. Despite it's generous size, Mercedes thinks this is a vehicle that will work well in urban areas. Speaking to members of the media during the Detroit Auto Show, Thomas Weber, Daimler AG management board member and research and development chief for Mercedes-Benz cars, said that the S500 PHEV, "will play a major role in congested areas" and that it will offer "a lot of driving pleasure." Part of that pleasure will come from a 0-62 mile-per-hour time of around 5.5 seconds thanks to a turbocharged, 3.0-liter V6 and an 80-kilowatt electric motor. The PHEV also has a 19-mile EV range, which will put it at the bottom end of the Three-Pointed star plug-in lineup. The upcoming C-Class plug-in, for example, will likely go, "closer to 50 km [31 miles]," Weber said, according to Green Car Reports. The S500 PHEV will go on sale in Europe later this year and will come to the US in early 2015 but there is no timeline, yet, for the C-Class plug-in (and the standard gas-electric hybrid version) or the even-more-future E-Class hybrids. Featured Gallery 2014 Mercedes-Benz S500 Plug-in Hybrid: Frankfurt 2013 View 22 Photos News Source: Green Car ReportsImage Credit: 2014 Jonathon Ramsey / AOL Green Detroit Auto Show Mercedes-Benz Electric Hybrid PHEV s500