This 1963 Shelby Cobra, CSX2195, will be among the featured attractions at the Mecum Indy auction, currently rescheduled for June 23-28. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ According to the Alliance for Automotive Innovation, 93 percent of the auto production in the United States is now halted, and 80 percent across North America. More at CNET Roadshow.
+ Automakers and suppliers across Europe are mobilizing to manufacture desperately needed medical equipment to fight the COVID-19 pandemic, including ventilators. More at Automotive News Europe.
+ U.S. auto loans in March averaged 70.6 months, the longest on record, while payments averaged $573, another new mark, according to a new study from Edmunds. More at Car and Driver.
+ Veteran Formula 1 and IndyCar broadcaster Bob Varsha, who has been battling prostrate cancer in recent months, has now tested positive for the COVID-19 virus. More at Motorsport.com
+ General Motors sales tumbled 43 percent in China in the first quarter, falling under the sales volume in the USA, as the asian nation was first to face the coronavirus. More at The Detroit News.
+ McLaren has reduced its production run of the $1.6 million, 804-horsepower Elva roadster from 399 to 249 units, promising buyers of the hypercar greater exclusivity. More at The Drive.
+ AutoNation, the largest new car dealer chain in the USA, has laid off 7,000 employees due to the virus pandemic, and other dealers are following suit. More at CNBC.
+ Ford chief executive Jim Hackett received compensation of nearly $17.4 million in 2019, slightly down from nearly $17.8 million in 2018, according to company disclosures. More at the Detroit Free Press.
+ A 1963 Shelby Cobra originally used as a Ford company demonstrator will be among the star attractions at the Mecum Indy Auction, currently rescheduled for June 23-28. More at Autoblog.
+ Australian champion Scott McLaughlin, driving for Team Penske, bested a field of open-wheel regulars to win the iRacing IndyCar Challenge at virtual Barber Motorsports Park. More at Autoweek.
Review the previous Executive Briefing from April 3 here.
Photo copyright and courtesy of Mecum Auctions.
Have you joined Mac’s Motor City Garage on Facebook? It’s lots of fun with rare photos, lore, trivia, and great discussions. Click here to go the page and join MCG. Be sure to check out our companion Facebook group MOTOROLOGY, too, and our latest page, Friends of Mac’s Motor City Garage.