This one-owner 1971 Ferrari Daytona sat untouched in a Toronto parking garage for 25 years. Now the survivor is headed to auction at the RM Amelia Island sale, where’s it’s expected to bring up to $600,000. Get all the latest car biz news in the Executive Briefing.
Today’s headlines:
+ General Motors will spend $3.6 billion over the next five years to double its production capacity at four Mexican plants to 1.3 million vehicles per year. More at Industry Week.
+ Ford has formed Ford Performance, a global performance unit based in Dearborn that will introduce 20 new performance models by 2020. More at the Detroit Free Press.
+ Fiat Chrysler Automobiles has denied a media report saying it was planning to move the tax residence of its Ferrari luxury sportscar unit outside Italy. More at Reuters.
+ Mazda has expanded its Road to Indy driver development partnership with the IndyCar series to include engines for the Indy Lights junior circuit. More at Racer.
+ Indian billionaire Anand Mahindra is close to finalizing a long-anticipated deal to buy the remaining portions of Swedish car group Saab. More at the Financial Times.
+ Hyundai is shutting down its motorsports operations in America, affecting mainly the RallyCross, drifting, and Pikes Peak efforts of Rhys Millen Racing. More at Autoblog.com.
+ Ford, Verizon Telematics, and Magna International have partnered to establish and fund a mobility technology incubator in downtown Detroit. More at The Detroit News.
+ NASCAR’s host tracks continue to reduce seating capacity, with the Charlotte Motor Speedway, the sport’s hometown venue, removing 41,000 seats. More at NBC Sports.
+ Featured cars at the RM Auctions Amelia Island sale in March 2015 include a garage-find 1971 Ferrari Daytona with just one owner and 56,000 miles. More at Motor Trend.
+ The McLaren Formula One team announced that Fernando Alonso and Jensen Button will drive for the team in 2015, leaving Kevin Magnussen the odd man out. More at BBC Sport.
For the previous Executive Briefing from December 8, click here.
Doesn’t surprise me these racing events attendance is down. Same with my cherished NHRA. If these guys would quit charging a fortune for the things, maybe attendance will improve. I live on a fixed income( or will shortly, I hope) and would love to attend more events, but at $50 or more to get in , parking, gas to get there and back, $5.00 hot dogs, and $3.00 bottle of water, you can piss away $100 pretty quick. And don’t try and sneak in a candy bar, they search you at the gate. (I always wondered what happened to all that stuff they confiscate ate the gate)
It would also be nice if NASCAR would change their format to some quick qualifying races, and then a 50 lap sprint race main event or two. Much like the short track Saturday night programs. The 300 to 500 mile races can seem interminable when you are sitting in the sun, halfway through the race. I have migrated from going to the races, to watching them on TV, to working in the garage instead.