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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:

Kahn Vengeance has Aston Martin's blessing [UPDATE]

Last week we brought you the first renderings of a coachbuilt Aston Martin DB9 called the Vengeance that's being developed by Kahn Design. The emergence of the project raised a valid question: if Aston Martin quashed a similar venture by Henrik Fisker, wouldn't the Kahn Vengeance suffer a similar fate? Not according to Kahn. In a statement released to the press, company spokesman Mo Bhana said that "unlike the David Brown Speedback GT and recent Fisker Thunderbolt that ended in a lawsuit, there are no copyright issues with the Vengeance since Aston Martin has confirmed they have entered into a supply deal with us." The incidents Bhana refers to are over two coachbuilder projects that have come up recently and which have drawn the ire of Gaydon. The first is the Speedback GT developed by David Brown Automotive and assembled by a British coachbuilder called Envisage. The latter company also supplies parts and tooling to Aston Martin, which sued Envisage over concerns that its designs were being misappropriated. Given the resemblance of the Speedback to certain classic Astons, and the use of the name David Brown (which happens to be shared by the Speedback's patron and a key figure from Aston's history), reports began circulating that Aston was suing Envisage over the Speedback project, however David Brown Automotive refuted the allegations. The second was Project Thunderbolt, a rebodied Vanquish designed by Henrik Fisker – the same Danish designer who penned the DB9 and V8 Vantage while serving as Aston's design director before striking out on his own. Despite the former association, Aston objected to Fisker's project, launched a lawsuit against him and only agreed to drop it after Fisker agreed not to produce the Thunderbolt. Given Aston's track record, fearing that it would go down the same path would seem reasonable, but Kahn apparently doesn't expect any such difficulties with its supplier. And the company does, after all, also have a history of collaborating with coachbuilders - most notably Zagato. We've reached out to Aston Martin itself for confirmation and will update you as soon as we hear back. In the meantime, you can ponder the second set of renderings released and which we've included above.

James Bond 1965 Aston Martin DB5 movie car up for auction

Aston Martin made headlines and sparked strong emotions when it announced it would be building fully-functional continuation versions of the famous gadget-laden 1964 Aston Martin DB5 from the James Bond film Goldfinger. But if a modern replica doesn't cut it, you'll have the opportunity to buy an original Goldfinger-specification Aston Martin DB5 this summer. It will go to auction at RM Sotheby's event in Monterey during Pebble Beach week, and it also features functional gadgets. This particular car is one of two 1965 Aston Martin DB5 ordered up by Eon Productions, the company behind Goldfinger and the next film Thunderball. Both cars were purchased and used as promotional cars in the U.S. for Thunderball. While they weren't used on screen, they did get all the gadgets from the film, and according to RM Sotheby's, the functioning gadgets were installed by Aston Martin and built to be used repeatedly and reliably, unlike the film cars. The auction house notes that the car has only had three private owners. It's also went through a complete restoration that was finished in 2012. That restoration also included the gadgets, so you should be able to raise the bullet-proof shield, extend the bumper overriders, activate the smoke screen, front guns and oil slick. Presumably the ejector seat doesn't actually work, but the panel above is removable. The various toggle switches along with the weapon drawer and tracking screen are all accounted for, too. When the car goes across the block in August, the price will certainly be in the seven figure range. The car was previously sold by RM Sotheby's in 2006, and it went for $2,090,000. The car had not been fully restored at that point, either, so it should go for even more this year. We'll be curious to see if it matches the $3.6 million price of the continuation cars.