Selling for $132,000, this show-winning 1957 Continental Mark II was one of the top 10 movers at the Russo and Steele Monterey 2014 Auction. Get all the latest auto industry news in the Executive Briefing.
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+ Hyundai managers in South Korea met Sunday with union representatives to settle a wage dispute that resulted in two weeks of work boycotts. More at The Detroit News.
+ General Motors is reviewing its plans to expand its $300 million assembly plant near St. Petersburg due to the slumping auto market in Russia. More at Reuters.
+ Volvo is considering another Polestar performance edition based on the V40 or XC90 production vehicle, joining the Polestar S60 sedan and V60 estate. More at Autocar.
+ The Verizon IndyCar schedule for 2015 could feature a new event in New Orleans, Mosport temporarily substituting for Toronto, and Houston dropped. More at Racer.
+ Cadillac may move key parts of its sales and marketing operations from Detroit to New York City to separate the brand from other GM divisions. More at The Detroit Bureau.
+ The Russo and Steele Monterey 2014 Auction produced over $12 million in total sales with an average price of $115,000 per vehicle. More at Sports Car Digest.
+ Chevrolet has officially established the base price of the 2015 Corvette Z06 at $78,995, with the convertible set at $83,995. More at the Los Angeles Times.
+ At Sonoma Raceway, 21 year-old Columbian-American driver Gabby Chavez won the 2014 Indy Lights championship on the second tiebreaker. More at NBC Sports.
For the previous Executive Briefing from August 22, click here.
The Sunbeam Tiger at Russo was a relative bargain compared to other sales in Monterey that weekend. When did they become $200k+ cars?
The Mark II sounds delectable in the auction catalog with its original interior, etc. I think this represents great value compared to a new luxury car.
That gold Mark II is beautiful. I’ve only seen them in black or white and I think a little color adds to the design. $505,000 is too much to pay for a Ferrari 330 America. The thing looks like a less curvaceous Volvo P1800. If you need a 4 seat Ferrari, the 365 GT 2+2 is better looking and sold for half the price. And good luck making your money back on a $149,600 Sunbeam Tiger with sidepipes and a T-Bird hood scoop.
They still make Volvos?
Forget that crap about Cadillac moving some offices to NYC for more “breathing room”.They want high-priced talent to revive the division and that talent thinks they’re too good for Detroit.. Same reason Lincoln and Nissan were in California. It would be a foolish decision. Those kind of people are more impressed with their own image than your brand’s. If you’re a car guy you want to be in Detroit because it’s a car city. And if you’re not a car guy then you’re the people that put Cadillac (and GM) in this position. Not only should the offices stay in Detroit, they should be located in the soon-to-be refurbished Packard plant so they will have a daily reminder of how clueless management can destroy one of the most respected brands in America.