Tobias Moers became Aston Martin’s CEO in August 2020. After more than a year, it seems like the former Mercedes-AMG honcho’s future with the luxury automaker has become blurry.
That’s the latest rumor from Autocar, which speculated Moers unclear position was due to the marque’s precarious financial position.
According to the automaker, it sees its annual adjusted core earnings to be lower than expected by around 15 million pounds ($20 million). This is reportedly due to shipment delays of the Valkyrie hypercar, which commenced during the final quarter of 2021.
Gallery: First Aston Martin Valkyrie Customer Car Completed
Of note, AM only delivered 10 units of the $3.3-million Valkyrie last year, fewer than what was planned. The delays are blamed to electronics issue.
To recall, Aston Martin was seeing a great year with an outstanding sales performance of the DBX, outselling every other model within the carmaker’s stable combined. However, Autocar reports that loan repayments hold back Aston’s financial performance last year.
Aston Martin Executive Chairman Lawrence Stroll is said to have reached out to Steven Armstrong, Bloomberg reported, coming from unnamed sources. Armstrong is a senior Ford executive and has been working with the Blue Oval for 25 years. He’s also the former chairman of Ford Europe.
Stroll and Aston Martin have denied both reports in various occasions. Stroll told the Financial Times that it’s “categorically not true” and that he was “absolutely not engaged whatsoever in looking to replace Tobias.”
Earlier in 2021, Moers have laid down its plans for the company’s future powertrains. Mercedes-AMG and the British carmaker have strengthened their ties, while Aston’s lineup is intended to become almost entirely electrified by 2030. The Valhalla’s bespoke V6 engine has also been removed from the plans.
Sources: Autocar, Automotive News
Source: Read Full Article