Cadillac has unveiled its new twin-turbo, 500 hp Elmiraj coupe concept at Pebble Beach weekend in Monterey, California. Get all the latest auto industry news in the Executive Briefing.
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+ Mega-investor Warren Buffet has increased his stake in General Motors 60 percent to 40 million shares. More here at The Detroit News.
+ Ford is sitting on $25.7 billion in cash and will invest $7 billion in capital expenditures this year, says CFO Bob Shanks. More here at the Detroit Free Press.
+ VW is delaying its decision about whether to build the new Cross Blue crossover at its Chattanooga, Tennessee plant until early next year. More here at The Detroit Bureau.
+ Cadillac introduced its new Elmiraj concept to the assembled press in Monterey for the Pebble Beach Concours this weekend. More here at AutoGuide.com.
+ There is no sign of the European price war ending soon, but the decline in sales has bottomed out, says Ford of Europe sales chief Roelant de Waard. More here at Reuters.
+ Juan Montoya will not return to Earnhardt Ganassi Racing in 2014, says team principal Felix Sabates, and Montoya’s plans for Sprint Cup are not yet known. More here at Fox Sports.
+ Hyundai Motor Co. will recall 270,00 Hyundai and Kia vehicles to correct multiple defects, including corrosion in the rear undercarriage. More here at the Chicago Tribune.
+ The Marussia F1 team is in no hurry to replace team technical chief Pat Symonds, who starts at Williams August 19. More here at Autosport.
For the previous Executive Briefing from August 16, click here.
Interesting name for the Caddy, perhaps inspired by El Mirage near the Desert Proving Grounds? To be honest, I didn’t quite get it at first – the spelling looks Arabic.
Cadillac does have a history of these questionable spellings, like the Evoq (whose name I have always strongly disliked – it’s just trying too hard to be … something).
Names aside, looks like a pretty good concept.
Love the car, hate the name.