This LS-powered 1970 Malibu will be among a selection of Chevy restomods offered at the inaugural Barrett-Jackson Houston sale. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Swamy Kotagiri, CEO of auto industry mega-supplier Magna International, predicts that half the company’s business will be in electric drivetrains and components by 2025. More at the Detroit Free Press.
+ Alphabet’s Waymo self-driving vehicle unit announced that it has ended a two-year effort to sell its LiDAR sensors to other companies in an effort to spread development costs. More at TechCrunch.
+ Zeekr, the Chinese electric vehicle brand owned by Geely, announced it raised $500 million in its first external funding effort, but has no plans yet for a initial public share offering. More at Reuters.
+ In a strange turn of events driven by heavy rains at the Belgian Grand Prix, Max Verstappen was declared the winner and awarded half points despite completing only two laps. More at the UK Guardian.
+ The German magazine Auto Motor und Sport reports that Volkswagen will have no models with traditional manual transmissions in its European product lines after 2023. More at Motor Trend.
+ Electrify America’s mobile phone charging app now supports Android Auto and Apple CarPlay to help electric car owners locate the networks’s 650 charging locations. More at Autoblog.
+ According to data collected by the American Automobile Association, the average cost to own and operate a new car in the USA is approaching the $10,000 per-year mark. More at Car and Driver.
+ Consignments at the inaugural Barrett-Jackson Houston auction on Sept. 16-18 will include a number of high-end Corvette, Camaro, and Chevelle-based restomods. More at ClassicCars.com Journal.
+ The National Highway Traffic Safety Administration (NHTSA) is warning owners of 2021 Ford F-150 pickups not to drive their vehicles until a seat belt recall is performed. More at Road & Track.
+ The 23XI NASCAR Cup team co-owned by Michael Jordan and Denny Hamlin will add a second car next year for driver Kurt Busch, who joins current driver Bubba Wallace. More at Jayski.
Photo courtesy and copyright of Barrett-Jackson.
Review the previous Executive Briefing from August 27 here.
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Just my opinion but while the current restomods use flawless construction, they’re starting to look cookie cutter. Someone new needs to come in and shake things up.
$10,000 to own and operate a new car? No wonder my newest vehicle is 16 years old. Doesn’t cost no where near that much to own and operate.
I have been out of the new market since the 1980’s. Let somebody else take the hits of taxes and depreciation.
That is without a doubt the most economical route.