At $2.23 million, this 1959 Porsche 718 RSK Spyder was the top seller at the annual Bonhams Quail Auction. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Pressure is mounting from Wall Street for General Motors to spin off its electric vehicle business, which could be worth $20 billion to $100 billion, according to Deutsche Bank. More at CNBC.
+ The 2021 BMW M4 coupe will be equipped with a 473-hp twin-turbo six and six-speed manual transmission, while the 503-hp Competition model will use an 8-speed automatic. More at Car and Driver.
+ A California court has issued an emergency stay order allowing the Uber and Lyft ride-hailing services to bypass new state employee protection legislation. More at Motor Trend.
+ As the new owner of the Indianapolis Motor Speedway, Roger Penske will recuse himself from his usual team leadership role on pit road in Sunday’s Indy 500. More at Racer.
+ Despite a list price of $90,265, Fiat Chrysler sold out the entire 702-unit production run of the 2021 Ram 1500 TRX Launch Edition pickup, boasting 702 hp, in three hours. More at Autoblog.
+ Volvo led all automakers in J.D. Power’s 2020 U.S. Tech Experience Index, while BMW ranked No. 2 and Cadillac was the only domestic brand in the top 10 at No. 3. More at The Detroit News.
+ After announcing in May that the Formula 1 team was looking for new investors, Williams has been purchased by a New York-based private equity firm, Dorilton Capital. More at Yahoo! Sports.
+ A U.S. judge dismissed portions of a U.S. Securities and Exchange Commission lawsuit accusing Volkswagen of defrauding American investors in its diesel scandal. More at Reuters.
+ Inside sources at Ford say that the 2021 Ford F-150 Raptor will be powered by the 5.2-liter, 700-plus horsepower supercharged V8 from the Shelby Mustang GT500. More at The Drive.
+ Formula 1 management announced that all 10 current teams have signed the new Concorde Agreement, pledging to compete in the series through the 2025 season. More at Motorsport.com.
+ The Bonhams Quail Motorcar Auction, held live and online this year in the Los Angeles showroom, generated $12.8 million in sales at a 65 percent sell-though rate. More at Classic Cars.com Journal.
Review the previous Executive Briefing from August 17 here
Photo courtesy of Bonhams.
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