Originally driven by Mark Donohue at Daytona, this 1968 Penske Racing Camaro is expected to bring from $900,000 to $1.2 million at the RM Sotheby’s Amelia Island auction. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ General Motors will invest $148 million in its Spring Hill, Tennessee facility, a former Saturn plant, to produce 6.2-liter Small Block V8 engines for pickups and SUVs. More at the Nashville Post.
+ Toyota will conduct a global recall of 2.87 million vehicles to correct a defect that could cause seatbelts to be damaged by a metal seat frame part in a crash. More at Reuters.
+ According to a securities filing, Beda Bolzenius will depart as president of Johnson Controls Inc.’s automotive business, which is slated to be spun off as Adient. More at Crain’s Detroit Business.
+ Aston Martin will form a joint venture with LeEco, A Beijing-based technology firm, to produce the RapidE electric car, which is scheduled for introduction in 2018. More at USA Today.
+ Bryan Herta Autosport and Andretti Autosport have formed an alliance for the 2016 IndyCar season, with Herta’s car to be prepared by Andretti’s Indianapolis shop. More at Racer.
+ On a visit to a plant in Italy, Fiat Chrysler boss Sergio Marchionne announced that Alfa Romeo’s new crossover SUV will go on sale early in 2017 as the Stelvio. More at Auto Express.
+ GM will attempt to pay down its $10.4 billion in unfunded pension debt for U.S. hourly workers by offering $2 billion in 20 and 30-year senior unsecured notes. More at The Detroit News.
+ Shattering its pre-auction estimate, the Aston Martin DB10 used in the 2015 James Bond film Spectre was sold at auction by Christies of London for $3.48 million. More at the UK Telegraph.
+ BMW is accused of using loaner car sales to its U.S. dealers to artificially boost its sales figures, pushing the company to first place in the luxury category in 2015. More at Bloomberg.com.
+ NASCAR Sprint Cup driver AJ Allmendinger says he will never return to competition at the Indy 500 following the death of his close friend Justin Wilson in an Indy car. More at Motorsport.com.
+ A 1968 Camaro prepared and campaigned by Penske Racing in the ’68 Trans-Am season is among the featured attractions at the RM Sotheby’s Amelia Island auction next month. More at Hemmings Daily.
Read the previous Executive Briefing from February 15 here.
Photo by RM Sotheby’s.