This unrestored 1970 Plymouth Hemi ‘Cuda with only 81 miles is expected to bring up to $800,000 at the giant Mecum Auctions Indianapolis sale next month. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ For the first quarter of 2015, Toyota remains the leader in global vehicle sales at 2.52 million units, followed by Volkswagen with 2.49 million and General Motors with 2.4 million. More at The Economic Times.
+ Ford will lay off 673 hourly and 27 salaried workers at its Wayne, Michigan assembly plant just west of Detroit due to weak sales of its C-Max hybrid and Focus Electric models. More at The Detroit News.
+ General Motors reported a record $945 in earnings for the first quarter of 2015, a $731 million jump over the same period last year but still short of analysts’ projections. More at USA Today.
+ IndyCar star Sebastien Bourdais will race in three events in Australia’s V8 Supercars series for the Walkinshaw Holden team in 2015, including the Bathurst 1000. More at NBC Sports.
+ Aluminum supplier Novelis and its president and CEO Phil Martens, former product development chief at Ford, have suddenly parted ways. More at the Detroit Free Press.
+ Veteran NASCAR television journalist Steve Byrnes has passed away at 56 after a long battle with cancer. More at Fox Sports.
+ In China, the Jiangsu Provincial Bureau of Commodity Prices has fined Mercedes-Benz $56 million for allegedly fixing the retail prices charged by dealers and service providers. More at the International Business Times.
+ GM chief executive Mary Barra dismissed talk of a possible merger with Fiat Chrysler Automobiles, following statements by FCA boss Sergio Marchionne that his company is looking for partners. More at ABC News.
+ Consignments for Mecum’s annual Indianapolis auction on May 12-17, to be televised live on NBS Sports Network, include a 1970 Hemi ‘Cuda with only 81 miles. More at Motor Trend.
+ Renault reported a 13.7 percent increase in first-quarter revenue to $10.14 billion as the upturn in the European market offset collapsing sales in Russia. More at Reuters.
+ Following last weekend’s crash-filled Long Beach race, the Pirelli World Challenge series passed out stiff points and cash penalties to 20 of the 40 drivers in the event. More at Racer.
Photo by Theo Civitello, courtesy of Mecum Auctions
For the previous Executive Briefing from April 20, click here.