MCG Executive Briefing for August 22, 2017

First Shelby CobraCarroll Shelby’s very first 1962 Cobra roadster, CSX 2000, sold for a record $12.8 million at the this past weekend’s RM Sotheby’s Monterey auction. Get all the latest auto industry news in the Executive Briefing.

 

 

Today’s headlines: 

+   Volkswagen is seeking a negotiated settlement with parts suppliers in a dispute over contracts that has stopped production at several plants in Germany. More at Fortune. 

+   Executives from ride-sharing service Uber have told investors it would not pay more than $2 billion for rival company Lyft, which General Motors has reportedly valued at $5.5 billion. More at Bloomberg.com.

+   Cadillac CEO Johan de Nysschen unveiled the Escala concept, said to foreshadow the division’s next flagship sedan, at a private estate event during Monterey Car Week. More at The Verge. 

+   Toyota reports it is resuming production at its Cumana, Venezuela plant after a six month halt due to a severe recession and a hard currency shortage. More at Reuters. 

+   With Jeff Gordon bowing out due to a previous commitment, Alex Bowman will substitute for Dale Earnhardt Jr. if necessary for next week’s NASCAR Sprint Cup race at Michigan. More at Motorsport.com. 

+   General Motors is cutting production at two Opel plants in Germany due to falling demand for its Corsa and Insignia models following the U.K.’s vote to leave the European Union. More at the Detroit Free Press. 

+   At Monterey Car Week in California, Aston Martin debuted the Vanquish Zagato Volante roadster, which will be powered by a 592 hp V12 and limited to 99 units. More at Motor Trend. 

+   Jacque Passino, Ford’s racing chief from 1957 to 1970 who directed the automaker’s historic triumphs at Indy, Le Mans, and NASCAR, has passed way at 95. More at Ford Performance. 

+   Top sellers at the RM Sotheby’s Monterey auction this past weekend included the 1956 Le Mans-winning Jaguar D-Type at $21.8 million and the first Shelby Cobra produced at $12.8 million. More at CNN Money. 

+   Chinese car maker BAIC will recycle components from the previous E-class platform of joint venture partner Mercedes-Benz for a new home market sedan. More at Autoblog.

+   The Sports Car Racing Association of the Monterey Peninsula (SCRAMP), which operates Mazda Raceway Laguna Seca, and Monterey County, which owns the facility, are said to be close to a reconciliation. More at Racer.

Review the previous Executive Briefing from August 19 here.

Photo courtesy of RM Sotheby’s. 

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One thought on “MCG Executive Briefing for August 22, 2017

  1. If that Cobra was owned by Joe Blogg it would be at the lower end of the price range. If the stories are true that has a LOT of paint on it from showing a differnt car to investors in the early days,, just repaint the one only car.

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