This 1953 Ferari 250 Europa Pinin Farina punctured the million-dollar mark at the Auctions America Burbank sale with a winning bid of $1,017,500. Get all the latest car industry news in the Executive Briefing. -photo courtesy Auctions America
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+ General Motors will introduce a new Chevy Volt with greater range and a lower price next January at the North American International Auto Show in Detroit. More at MLive.
+ Toyota will donate $1 million to a $100 million fund to protect the Detroit Institute of Art’s precious art collection as the city negotiates the bankruptcy process. More at USA Today.
+ The National Guard has announced it will end its sponsorship of Dale Earnhardt Jr. in NASCAR and Graham Rahal in IndyCar at the end of 2014. More at NBC Sports.
+ Principals of the M1 Concourse auto enthusiast development have purchased an 87-acre site in Pontiac, Michigan where a GM plant once stood. More at The Detroit News.
+ German labor unions have forced out McKinsey & Company, the consulting firm executing a $6.7 billion cost-savings program at Volkswagen AG. More at Reuters.
+ Formula One supremo Bernie Ecclestone has ended his three-month bribery trial in Munich, Germany with a $100 million cash settlement. More at the UK Daily Mail.
+ Facing multiple recalls and legal challenges, airbag maker Takata Corp. of Japan has forecast a $235 million annual loss for 2014. More at Bloomberg.com.
+ Top sellers at the Auctions America Burbank sale last weekend included a 1946 Mercury Sportsman and a 1958 Porsche 356A Speedster. More at Hemmings Daily.
For the previous Executive Briefing from August 4, click here.