This 1957 Ferrari 625 TRC Spider is expected to bring up to $11 million at the RM Sotheby’s Monterey auction. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Stellantis is laying off as many as 2,450 workers at its Warren Truck assembly plant outside Detroit as the automaker ends production of the Ram 1500 Classic pickup. More at Reuters.
+ Due to greater materials costs, Volvo has raised the price of the EX90 by $3,300 to $81,290 for 2025, elevating the EV’s list price to above that of a Mercedes EQS or Rivian R1S. More at Autoblog.
+ Police in Grapevine, Texas report they have arrested seven suspects in a major auto theft ting in the Dallas-Fort Worth area that was shipping high-end vehicles to Mexico. More at The Drive.
+ NASCAR Cup 2021 champion Kyle Larson won the Knoxville Nationals, the Super Bowl of sprint car racing, for the third time, leading all 50 laps for the second year in a row. More at Speed Sport.
+ Marissa West, appointed senior vice president of General Motors North America in January, has left the company, with her duties taken over by global market VP Rory Harvey. More at the Detroit Free Press.
+ Senator Elizabeth Warren is asking Tesla’s board of directors ito look into CEO Elon Musk’s possible use of company resources to benefit his other ventures, including SpaceX and xAI. More at CNBC.
+ Honda has filed a patent appliaction for its own version of the mid-gate with adustable bed length as used on the Chevrolet Silverado EV and GMC Sierra EV pickups. More at Motor Authority.
+ Liberty Media, owner of the Formula 1 series, confirmed it is facing an antitrust investigation by the U.S. Department of Justice over its rejection of Andretti Global’s entry application. More at Racer.
+ As usual, the multiple auctions of Monterey Car Week will feature a number of multi-million dollar cars, including a 1957 Ferrari 625 TRC Spider and a 1976 Porsche 935. More at Car and Driver.
+ Meritage Group, the investment firm that owns Les Schwab Tire Centers, is exploring options for the tire retail chain, including a sale that could value it at more than $7 billion. More at World Auto Forum.
Photo courtesy and copyright of RM Sotheby’s.
Review the previous MCG Executive Briefing from August 9 here.
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