At the Bonhams 2016 Spring Stafford Sale, this 1932 Brough Superior BS4 hammered down for $477,205, the most expensive British motorcycle ever sold at auction. Get all the latest auto industry news in the Executive Briefing. 

Today’s headlines:

+   Ford Motor Company reported record earnings of $2.5 billion in the first quarter, with an all-time high pre-tax profit of $3.8 billion. More at The Detroit News. 

+   Matt Tsien, president of GM China, asserts that strong consumer preference for luxury brands could help make the country Cadillac’s largest global market in the next five to 10 years. More at Reuters. 

+   The Volkswagen brand posted a loss of $144 million in the fourth quarter of 2015, compared to a $887 million profit for the same period a year before. More at Automotive News Europe. 

+   Fiat Chrysler Automobiles and Google’s self-driving car division are in advanced discussions to form a technical partnership, sources confirmed. More at the Detroit Free Press. 

+   Nick Sandler, crew chief for Roush Fenway driver Ricky Stenhouse Jr., has been suspended and fined by NASCAR for the use of an unapproved steering wheel coupling. More at Sporting News. 

+   Toyota will introduce a smaller, less expensive version of the Mirai hydrogen fuel cell vehicle in time for the 2020 Tokyo Olympics, reports the Japanese daily Asahi Shimbun. More at Autoblog.

+   The BBC program Top Gear will launch a 30-minute companion show called Extra Gear hosted by Rory Reid and filmed in the Top Gear studio. More at the UK Guardian. 

+   General Motors will invest $906 million in its powertrain plants in Spring Hill, Tennessee and Bay City, Michigan, creating or securing more than 900 jobs. More at USA Today. 

+   Livonia-based Tower International, supplier of metal components and assemblies for cars and trucks, canceled plants to sell its European division and will divest its China and Brazil operations. More at Crain’s Detroit Business. 

+   Eight barn-find Brough motorcycles were among the feature attractions at the Bonhams Spring Stafford Sale in Stafford, England, including an Austin-powered BS4 that sold for a record $477,205. More at Hemmings Daily. 

+   The Red Bull Formula 1 team will test its new cockpit head protection canopy in practice for this weekend’s Russian Grand Prix. More at Motorsport.com. 

+   A study by the Lawrence Berkeley National Laboratory determined that vehicle roof racks waste 100 million gallons of fuel per year due to aerodynamic drag. More at Motor Trend. 

Review the previous Executive Briefing from April 25 here.

Photo courtesy of Bonhams. 

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