Sporting a pre-sale estimate of up to $11.13 million, this 1957 Ferrari 250GT Tour de France will be offered at the RM Sotheby’s Monaco Sale on May 14. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Herbert Diess has been appointed to replace Matthias Mueller as CEO of the Volkswagen Group, where he will lead a reorganization of the automaker’s 12 brands. More at Automotive News Europe.
+ GM international chief Barry Engle plans to meet with government officials in the coming week to determine the future of the company’s South Korea operations. More at The Detroit News.
+ Ford’s premium Lincoln brand plans to produce as many as five new vehicles in China by 2022, including a unique SUV, in a move to sidestep import tariffs there. More at Reuters.
+ In response to viewer complaints about the quality of the coverage, ESPN will air its Formula 1 qualifying and race broadcasts commercial-free for the rest of 2018. More at Yahoo! Sports.
+ Southfield, Michigan-based automotive supplier Federal Mogul, controlled by Carl Icahn and heavy with debt, has been sold to Tenneco in a $5.4 billion deal. More at the Detroit Free Press.
+ A 16 year-old Cincinnati, Ohio youth was apparently suffocated when he became trapped in the folding bench seat of his family’s 2002 Honda Odyssey minivan. More at CNN.
+ The RM Sotheby’s Monaco Sale on May 14 will include a selection of exceptional Ferraris, including a 250 GT Tour de France and a Boano low-roof coupe. More at Classic Cars.com Journal.
+ Spy photographers have captured the best look yet at the 2020 Mustang Shelby GT500, which is expected to carry a supercharged flat-crank V8 good for 700+ horsepower. More at Motor Trend.
+ Chevrolet has announced that it will reveal three all-new Silverado pickups in the next 18 months, including a Silverado HD that will debut as a 2020 model. More at Automotive Business Review.
+ An exhibit dedicated to the cars and career of racing legend A.J. Foyt will be presented at the Gilmore Museum in Hickory Corners, Michigan through September. More at Hemmings Daily.
+ JR Hildebrand has been confirmed as the second driver for Dreyer & Reinbold Racing in this year’s Indy 500, where he will join teammate Sage Karam. More at Racer.
Review the previous Executive Briefing from April 9 here.
Photo courtesy of RM Sotheby’s.
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Mary Barra has been utterly ruthless about chopping off GM overseas divisions that aren’t profitable.
GM was not able to leverage any great value from partnerships with Daewoo, Daihatsu or Suzuki. That’s unlikely to change. They probably aren’t getting much from China either, but the market is too big to walk away from. I wasn’t happy that they parted ways with Opel, but won’t regret a pullback in Asia.
It appears that GM, and to a lesser extent Ford, just don’t know how to compete in the small car field. Never have. At some point, fuel prices will rise and Americans will pull back from high margin big trucks. Makes sense to have pared down operations ahead of time.
I don’t think GM will survive. Ford might. Chrysler is already lost.