The famed Chrisman brothers Model A Bonneville coupe will cross the block at the Mecum Monterey auction, where it is expected to bring up to $700,000. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Passenger car sales took a nosedive in July, driving down overall results for several automakers as strong SUV and truck sales could not offset the declines elsewhere. More at The Detroit News.
+ Ford Motor Co. is rumored to be shopping its South America division, which has lost $4.2 billion since 2012, to rival carmakers including Volkswagen and Fiat Chrysler Automobiles. More at Bloomberg.com.
+ As expected, the Trump administration has proposed freezing current EPA fuel economy standards at 2020 levels, reversing a 2012 Obama administration policy. More at USA Today.
+ Three-time Formula 1 champion and current Mercedes non-executive chairman Niki Lauda is recovering from a lung transplant in Vienna after suffering a severe infection. More at the UK Guardian.
+ BMW expects its China sales to rise between 5 percent and 10 percent this year, despite the introduction of 40 percent tariffs on vehicles imported from the USA. More at Automotive News Europe.
+ Spy photographers have captured the 992-series Porsche 911 due to appear in model year 2020 without its camouflage wrap and only its Porsche badges covered. More at Autoblog.
+ Despite the announcement of a $717 million loss in the second quarter, Tesla shares surged as the carmaker met its production targets and stabilized its cash reserves. More at CNBC.
+ Featured consignments at the Mecum Monterey auction on August 23-25 will include the famed Model A coupe built for Bonneville competition by the Chrisman brothers. More at Hemmings Daily.
+ Harley-Davidson is investing more than $600 million in new products, including a big-bore adventure touring model for America and small-displacement bikes for Asia. More at the Milwaukee Journal Sentinel.
+ Despite winning three NASCAR Xfinity series races in a row this year, Joe Gibbs Racing driver Christopher Bell so far has no Monster Cup seat available in 2019. More at NBC Sports.
Review the previous Executive Briefing from July 30 here.
Photo courtesy of Mecum Auctions.
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Musk beats the shorts again. He has nine lives.
Is it me or are Tesla shareholders on drugs. A business that never makes a profit, cannot even manufacture existing models but announces new regularly.
IF this was a ‘normal’ business they would have been bellyup years ago
Tesla is playing the shell game to the end. They ran Preston Tucker out of business for less. The house of cards Musk has built will start to collapse sooner or later.
Must be short sellers. 60,000 model 3 owners love them.