The 2016 RM Sotheby’s Monaco sale will feature no less than 21 vintage Ferraris, including this 1968 275 GTS/4 NART Spider expected to bring up to $26 million. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Volkswagen and the U.S. Justice Department have roughed out a deal in which the automaker would pay at least $10 billion to buy back or repair a half-million diesel autos that fail to meet emissions standards. More at Reuters.
+ General Motors reported far stronger than expected earnings for the first quarter of 2016, doubling its profit over the same period last year to $1.95 billion and breaking even in Europe. More at The Detroit News.
+ Mitsubishi Motors president Tetsuro Aikawa reported that employees falsified fuel-efficiency data for four minicar models and that it had suspended production of the cars. More at The Japan Times.
+ After numerous delays, the first 2017 Alfa Romeo Giulia rolled off the production line at the Fiat Chrysler Automobiles plant in Piedimonte San Germano, Italy this week. More at Motor Authority.
+ NASCAR has fined team owner/driver Tony Stewart $35,000 for criticizing officials about the relaxed policing of loose lug nuts, charging that it puts drivers at risk. More at National Speed Sport News.
+ LeEco, the Chinese technology company linked to American electric car maker Faraday Future, has unveiled an autonomous EV concept. More at Motor Trend.
+ Ford has received 7,000 purchase applications for the 2017 Ford GT, although production of the $400,000 sports car is thus far limited to only 500 units in the first two years. More at Cars UK.
+ A Detroit Chassis plant in Avon, Ohio narrowly averted a strike by agreeing to recognize the United Auto Workers as bargaining agent for the 60 workers there. More at Cleveland.com.
+ A 1968 Ferrari 275 GTB/4 NART Spider will headline the 2016 RM Sotheby’s Monaco sale on May 14, which will feature more than 100 select automobiles and motorcycles. More at Sports Car Digest.
+ Initial buyers of the new Tesla X electric crossover are reporting serious problems with the radical falcon-wing doors and electric windows refusing to operate. More at Autoblog.
+ Promoters at the Hungaroring have signed a contract extension with Formula 1 management to secure the Hungarian Grand Prix through 2026. More at Racer.
Read the previous Executive Briefing from April 18 here.
Photo by Tom Gidden, courtesy of RM Sotheby’s.