This 1963 Ferrari 275 P, a documented two-time Le Mans winner, will be offered for private purchase by RM Sotheby’s at Monterey Car Week on August 24-25. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines:

+   Volkswagen CEO Herbert Diess was told about cheating software in VW cars two months before regulators uncovered the emissions conspiracy, Germany’s Der Spiegel reported. More at Reuters.

+   Ford’s new-vehicle sales in Europe rose 1.4 percent to 74,300 units last month,  driven by strong demand for the EcoSport and Kuga compact SUVs. More at Automotive News Europe. 

+   Conserving petroleum is no longer an economic priority for the U.S., the Trump administration’s Department of Energy declared in a major new policy statement. More at The Detroit News.

+   IndyCar rookie Robert Wickens was hospitalized with serious injuries following a violent crash at Pocono that forced a race halt for two hours to repair the fencing. More at the Indianapolis Star. 

+   Investment Bank Morgan Stanley has lowered its price target for General Motors shares from $50 to $46 due to concerns about a declining China market and the looming trade war. More at CNBC. 

+   A lost, one-of-one 1967 Shelby GT500 Mustang prototype, the notchback coupe known as “Little Red,” has been tracked down and recovered in a field in Texas. More at Motor Trend. 

+   A  1963 Ferrari 275 P driven to overall victory at the 24 Hours of Le Mans in both 1963 and 1964 will be offered for private sale by RM Sotheby’s at Monterey Car Week. More at Classic Cars.com Journal.

+   Sergio Marchionne, the recently deceased CEO of Fiat Chrysler Automobiles, reportedly failed to tell the FBI of his gift of an expensive Italian watch to a labor official. More at Deadline Detroit. 

+   A major Hollywood movie about the Ford vs. Ferrari battle at Le Mans in the 1960s is now in production at 20th Century Fox with Matt Damon playing Carroll Shelby. More at Hemmings Daily. 

+   After dominating the 6 Hours of Silverstone World Endurance race, Toyota Gazoo Racing’s pair of TS050 HYBRIDs were excluded from the results after failing post-race inspection. More at Racer.

Review the previous Executive Briefing from August 17 here. 

Photo courtesy of RM Sotheby’s. 

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