At $48.4 million, this 1962 Ferrari 250 GTO became the highest-priced car ever sold at auction at this past weekend’s RM Sotheby’s Monterey Sale. Get all the latest auto industry news in the Executive Briefing. 

Today’s Headlines:

+   Washington is pressing the European Union to speed up trade negotiations following the recent visit by EU Commission President Jean-Claude Juncker. More at Automotive News Europe. 

+   Tesla CEO and founder Elon Musk has reversed course on his threatened plan to take the automaker private, asserting that the company will now remain public. More at The Detroit News. 

+   Upon its official introduction at Pebble Beach, the Bugatti Divo hyper-sports car immediately sold out its entire 40-car production run at the list price of $5.8 million. More at Business Insider. 

+   Formula 1’s halo driver-protection device got its first major test when Charles Leclerc’s Sauber was overrun by the McLaren of Fernando Alonso in Belgium. More at Motorsport.com. 

+   Famed Russian arms maker Kalashnikov, manufacturer of the AK-47 combat rifle, has unveiled its new CV-1 electric car with retro styling and a 217-mile range. More at the UK Guardian. 

+   Tom Maruska, restorer of the Mercury XM-800 and Thunderbird Italien show cars, has obtained the very rough 1956 Mercury XM-Turnpike Cruiser and begun its rebirth. More at Hemmings Daily. 

+   Jaguar’s Classic Works division will offer duplicates of the electric E-Type Zero Concept driven by Prince Harry in the recent royal wedding with deliveries in summer of 2020. More at Motor Trend. 

+   At this past weekend’s RM Sotheby’s Monterey sale, a 1962 Ferrari 250 GTO became the most expensive car ever sold at auction, bringing a fee-inclusive $48.4 million. More at The Drive. 

+   Reports that Furniture Row Racing was poised to sell out its champion NASCAR Monster Cup operation to GMS Racing have been dismissed by both parties. More at Jayski. 

+   Audi’s PB 18 e-tron electric supercar prototype boasts a claimed 0-to-60 mph time of just over two seconds, a range of 310 miles, and a charging time of 15 minutes. More at USA Today. 

Review the previous Executive Briefing from August 24 here. 

Photo by Patrick Ernzen courtesy of RM Sotheby’s. 

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