Barrett-Jackson is postponing its 50th annual January auction, the company’s flagship event, until March in response to the COVID-19 pandemic. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Ferrari chief executive officer Louis Camilleri, who recently contracted the COVID-19 virus, has retired, while also stepping down as executive chairman at Phillip Morris. More at Reuters.
+ Some Ford dealers are offering discounts of up to $10,000 on the discontinued 2020 Ford Fusion sedan, along with zero interest rates, to clear out the remaining inventory. More at Autoblog.
+ Cruise LLC, which has partnered with General Motors to develop the vehicle technology, now has fully self-driving cars operating on the streets of San Francisco. More at the Detroit Free Press.
+ Juan Pablo Montoya, a Formula 1 and NASCAR veteran who won the Indy 500 in 2000 and 2015, will return to the speedway next year driving for Arrow McLaren SP. More at IndyStar.
+ Tesla reports it is seeking to raise up to $5 billion through another stock offering, just as CEO Elon Musk announced he has moved his home to Texas from California. More at The Detroit News.
+ Mazda has announced new colors, connectivity upgrades, and prices for the 2021 MX-5 Miata: $27,775 for the roadster and $33,990 for the RF retractable hardtop. More at Car and Driver.
+ President Glen Cromwell said the National Hot Rod Association plans to sell Atlanta Dragway, in part to fund improvements at its tracks in Indianapolis and Gainesville. More at CycleDrag.
+ In response to the coronavirus pandemic, Barrett-Jackson is postponing its 50th annual January auction in Scottsdale, the company’s flagship event, until March. More at Classic Cars.com Journal.
+ Nissan chief operating officer Ashwani Gupta says electric vehicles have now reached a “turning point” in consumer acceptance as sales begin to accelerate. More at CNBC.
+ Mercedes AMG Formula 1 driver Lewis Hamilton will return to the cockpit at Abu Dhabi his weekend after testing positive for COVID-19 and completing 10 days in isolation. More at Sky Sports.
+ Porsche announced its has produced one million copies of the Cayenne SUV since its introduction in 2002, reaching the one-million mark in one-third the time of the 911. More at The Drive.
Photo courtesy of Barrett-Jackson.
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Re the discontinued Fusion: Autoline reported this week that the sedan market shrank another 24% this year. It seems that sedans will now be the niche market and SUVs the mainstream products, a reversal of fortunes.