This stunning 1938 Packard Eight with cabriolet bodywork by Graber of Switzerland is expected to bring up to $1.8 million at the RM Sotheby’s Andrews collection sale. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ At the 2015 Shanghai Auto Show, Ford unveiled a revamped version of the Taurus sedan designed specifically for the China market. More at USA Today.
+ Volkswagen chairman Ferdinand Piech’s leadership of the company has been weakened following his loss in a power struggle with CEO Martin Winterkorn. More at Reuters.
+ Cadillac confirmed that it will offer a plug-in hybrid electric version of the upcoming CT6 sedan, first in China in late 2016 and in the USA in early 2017. More at The Detroit News.
+ Canada-based automotive supplier Magna International has agreed to sell its vehicle interiors business to Grupo Antolin of Spain for $525 million. More at Automotive Business Review.
+ Formula One’s engine suppliers say rules changes for 2017 must be based on the current V6 package, pushing back against Bernie Ecclestone’s call for a switch to V8s. More at Motorsport.com.
+ BMW of North America will recall around 91,800 Mini Coopers to correct a defect in the the passenger seat mat that may prevent air bag deployment. More at Bloomberg.com.
+ Ford will invest $2.5 billion in two new factories in Mexico, an engine plant in Chihuahua and a transmission plant in Guanajuato. More at Motor Trend.
+ General Motors has asked the city of Warren, Michigan for a 12-year tax abatement on its $419 million renovation of the GM Technical Center. More at the Detroit Free Press.
+ The RM Sotheby’s Andrews Collection auction on May 2, 2015 in Fort Worth, Texas.will feature 78 vehicles from the collection of father and son enthusiasts Paul and Chris Andrews. More at Sports Car Digest.
+ Veteran IndyCar driver Townsend Bell has landed a one-race deal to run next month’s Indianapolis 500 with Dreyer & Reinbold/Kingdom Racing. More at NBC Sports.
For the previous Executive Briefing from April 17, click here.