With an extensive competition history and factory 427 CID V8 power, this ’66 Biscayne drag racer is expected to bring $90,000-$110,000 at the Mecum Indy auction next month. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Speaking in Beijing, Ford CEO Mark Fields stated that automakers are now under greater and growing scrutiny around the world following scandals over fuel economy and emissions. More at the Chicago Tribune.
+ Due to a parts shortage caused by the recent earthquake in Japan, General Motors will temporarily shut down four vehicle assembly plants in North America. More at the Detroit Free Press.
+ Responding to generous buyer incentives there, Toyota plans to aggressively market plug-in hybrid cars in China starting in 2018, says Hiroji Onishi, the automaker’s head of China operations. More at Reuters.
+ Volkswagen has taken an $18.28 billion write-off over its Dieselgate emissions scandal, recording a $4.6 billion operating loss and a $1.77 billion net loss for 2015. More at the Wall Street Journal.
+ Red Bull team principal Christian Horner charged that Formula 1’s four engine manufacturers have failed in their duty to produce a framework for future competition regulations. More at Racer.
+ Porsche has unveiled the third-generation Cayman 718 in the lead-in to the Beijing Motor Show, announcing a base price of just under $55,000. More at Motor Trend.
+ General Motors reports that Chairman and CEO Mary Barra’s total compensation in 2015 totaled $28.58 million in 2015, an increase of 77 percent over the previous year. More at The Detroit News.
+ German-based BASF has agreed to acquire the automotive refinish coatings business of China’s Guangdong Yinfan Chemistry and its Yinfan brand for an undisclosed price. More at Automotive Business Review.
+ Featured cars at the annual Mecum Indianapolis auction on May 17-21 will include a 1966 Chevy Biscayne with factory 427 big-block V8 power and an extensive drag racing history. More at Hemmnings Daily.
+ Nissan’s Infiniti brand has unveiled the QX Sport Concept, the presumed successor to the current Infiniti QX70 crossover, in advance of the Beijing Motor Show. More at Autoblog.
+ Stefan Wilson, younger brother of the late Justin Wilson, will reportedly take a third seat at KVSH Racing Technology in the Indy 500 alongside Sebastien Bourdais and Matt Brabham. More at Motorsport.com.
Read the previous Executive Briefing from April 22 here.
Photo courtesy of Mecum Auctions.