Audi will invest $30 billion through 2018 in an effort to displace BMW as the world’s largest luxury-car producer. Get all the latest auto industry news in the Executive Briefing.
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+ Seven-time Formula One world champion Michael Schumacher is hospitalized in critical condition with a head injury suffered while skiing in Mirabel, France. More at BBC News.
+ Hyundai CEO John Krafcik is leaving the company at the end of the year, to be replaced by David Zuchowski, executive vice president of sales. More at USA Today.
+ Dealertrack Technologies Inc., software provider for car dealerships, will acquire the digital marketing company Dealer.com for around $1 billion, More at Bloomberg.com.
+ STP marketing wizard and veteran Indy car team owner Andy Granatelli has passed away at age 90. More at NBC Sports.
+ Volkswagen AG’s Audi unit will invest $30 billion through 2018 to challenge BMW for the top spot in the luxury market. More at The Detroit News.
+ Global parts manufacturer Aisin will move its Michigan headquarters and 245 employees from Plymouth to Northville Township. More at the Detroit Free Press.
+ Mitsubishi plans to reintroduce the Montero SUV to the USA in plug-in hybrid form and both gas and diesel versions. More at Motor Trend.
+ Dennis Wood, the former owner of Phoenix International Raceway who is largely credited with saving the track, has passed away at 75. More at the Arizona Republic.
+ General Motors and Chinese partner Shanghai Motors are recalling 1.46 million Buick Excelle and Chevy Sail cars to correct a fuel pump bracket defect. More at Reuters.
For the previous Executive Briefing from December 27, click here.
Very sad to see the loss of another giant in the automotive world, Andy Granatelli. He was a marketing genius, a true innovator, an entrepreneur of the first order and one of the greatest car enthusiasts ever. He has left a great legacy in all aspects of the hobby.
If you ever get a chance, pick up his autobio, They Call Me Mr. 500. The story of how he and his brothers made their fortune as young Italian kids in Chicago is worth the trip alone. It’s a real American story.