Blowing past its $17 Million presale estimate, this Ferrari 275 NART Spyder hammered down for a record $27.5 million at the RM Auctions Monterey sale. Get all the latest car biz news in the Executive Briefing.   -Darin Schnabel photo for RM Auctions

Links open in new windows 

+   After shutting down their automotive operations in Egypt due to political violence, General Motors and BASF have reopened their facilities. More here at GlobalPost.

+   American Axle has named as its new chairman David Dauch, current CEO and son of recently deceased co-founder and chairman Richard Dauch. More here at Yahoo! Finance.

+   The Eddie Smith 1967 Ferrari 275 GTB/4*S NART Spyder sold for a record $27.5 million at the RM Auctions Monterey sale over the weekend. More here at Bloomberg.com.

+   Chrysler unveiled its latest Ram Truck Rumble Bee pickup concept at the Woodward Dream Cruise on Saturday. More here at Edmunds.com.

+   MotoGP intends to extend its agreement with the Indianapolis Motor Speedway beyond 2014, the last year of the existing deal. More here at Autosport.

+   Following Ford’s troubles with the C-Max hybrid, the Environmental Protection Agency announced it will revamp its fuel mileage rating procedures. More here at The Detroit Bureau.

+   GM will recall nearly 340,000 Chevrolet Cruze sedans to correct a defect in the brake booster vacuum switch. More here at The Detroit News.

+   NASCAR veteran Mark Martin is expected to substitute for the injured Tony Stewart starting next week at Bristol, sources say. More here at the Sporting News.

+   Chevrolet Racing debuted its C7.R Corvette endurance racer with a few hot laps at the Rolex Monterey Motorsports Reunion. More here at USA Today.

For the previous Executive Briefing from August 16, click here. 

Have you joined Motor City Garage on Facebook? It’s big fun with rare photos, car lore, trivia, and great discussions! Click here to go the page and like MCG!