Hammering down for a record $15.62 million, this highly original 1995 McLaren F1 was the top seller of the Bonhams Quail Lodge Auction at Monterey Classic Car Week. Get all the latest automotive news in the Executive Briefing.
Today’s headlines:
+ General Motors announced a $603 million expansion of its plant in Joinville, Brazil, and another $380 million investment in its factory on the outskirts of São Paulo. More at Reuters.
+ In Detroit, former Volkswagen executive James Liang was sentenced to 40 months in prison and a $200,000 fine for his role in the company’s diesel emissions cheating conspiracy. More at The Detroit News.
+ Fiat Chrysler Automobiles plans to transform Jeep into a global mega-brand with a boost in sales volume of 30 percent to around two million vehicles per year. More at Automobile.
+ Four-time Formula 1 Drivers’ Champion Sebastian Vettel has signed on for three more years at Ferrari for an undisclosed amount, calling the decision “a no-brainer.” More at BBC Sport.
+ Next month in Japan, Toyota is expected to unveil a new “Sports Car” series offering performance and trim packages for the Camry, Corolla, and 86 models. More at Motor Trend.
+ Daimler AG, the parent company of Mercedes-Benz, is studying a revised corporate holding structure hat would split the automaker into three separate entities. More at Automotive News Europe.
+ German prosecutors probing the Dieselgate scandal discovered that Audi apparently built thousands of cars for export to Asia with the same Vehicle Identification Number (VIN). More at Carscoops.
+ The Bonhams Quail Lodge 2017 Auction at Monterey Classic Car Week generated more than $56.4 million in total sales at an 80 percent sell-through rate. More at Sports Car Digest.
+ To celebrate the brand’s 115th anniversary, Cadillac has introduced a special version of the CTS-V called the Glacier Metallic Edition with unique paint and a list price of $104,000. More at Autoblog.
+ Reigning Indy 500 winner Takuma Sato is expected to leave Andretti Autosport at the end of the season to rejoin Rahal Letterman Lanigan Racing, where he drove in 2012. More at Racer.
Review the previous Executive Briefing from August 25 here.
Photo courtesy of Bonhams.
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With nearly a billion of new investment in Brazil, GM’s plans become more clear.
Yeah, Josef, that doesn’t sit right with me either.
I mean to say I approve of GM in Brazil. They have pulled out of Europe and India to focus on their good markets.
> Fiat Chrysler Automobiles plans to transform Jeep into a global mega-brand
Yeah, they PLAN to do a lot of things.
> Daimler AG, the parent company of Mercedes-Benz, is studying a revised corporate holding structure hat would split the automaker into three separate entities.
Possibly trying to create a GM-like entity that will be permitted to go bankrupt from the dieselgate scandal while the rest soldiers on.
> Audi apparently built thousands of cars for export to Asia with the same Vehicle Identification Number.
I get the feeling that the German auto industry could go down like a game of Jenga if the right piece is found. With it will go the remains of the English and many Italian marques. Your next Rolls-Royce could be built by Toyota. It might even be a better car.