MCG Executive Briefing for February 10, 2017

One of only four built, this 1955 Chrysler ST Special by Ghia will be offered at the Hollywood Wheels sale at Amelia Island, where it is expected to bring up to $1 million. Get all the latest auto industry news in the Executive Briefing. 

 

 

Today’s headlines:

+   McLaren Automotive will move its carbon-fiber chassis production from Austria to a new $63 million plant in Sheffield, England, reportedly to reduce its exposure to Brexit taxes. More at Bloomberg.com. 

+   Alfa Romeo has canceled a planned station wagon version of the Giulia sedan to concentrate its development resources on the Stelvio crossover SUV. More at Autoblog.

+   Nissan has added a King Cab extended-cab version of the fullsize Titan and Titan XD pickups alongside the current standard cab and crew cab body styles. More at Motor Trend. 

+   McLaren Formula 1 manager Dave Redding has left the team and will take a similar position at Williams later this year as both organizations revamp their management. More at ESPN. 

+   The Volkswagen Group rebuked former chairman Ferdinand Piech for accusing ex-CEO Martin Winterkorn and other top executives of having prior knowledge of the company’s diesel emissions violations. More at USA Today. 

+   Auto sales in the European Union are expected to grow by about 1 percent in 2017, a sharp slowdown from last year, the European auto industry association ACEA reported. More at Automotive News Europe. 

+   Michigan-based auto supplier BorgWarner reported a net loss of $293 million in the fourth quarter of 2016 as it announced a one-time asbestos-related charge of $411 million. More at Crain’s Detroit Business. 

+   Bill Fay, head of the U.S. Toyota brand, says the company will invest in production facilities for pickups and SUVs to keep pace with the U.S automakers in the key market segment. More at Reuters.

+   NASCAR has unveiled the three-stage point-scoring format for the 2017 Daytona 500 on Feb. 26, with the 200 laps divided into 60, 60, and 80-lap segments. More at Racer. 

+   A 1955 Chrysler ST Special by Ghia, one of only two of its kind known to survive, will be among the offerings at the Hollywood Wheels sale at Amelia Island on March 10. More at Hemmings Daily. 

Review the previous Executive Briefing from February 6 here.

Photo courtesy of Hollywood Wheels. 

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