At $214,500, this 1958 Facel-Vega FV4 French-American hybrid was a top seller at the Mecum Auctions Los Angeles sale. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines: 

+   Lincoln chief Kumar Galhotra is the new head of Ford’s North American operations, replacing Raj Nair, suddenly ousted this week for unspecified “inappropriate behavior.” More at The Detroit News.  

+   Volkswagen Group’s Seat division has spun off its Capra performance line as a separate car brand in an effort to boost its visibility and profitability. More at Automotive News Europe. 

+   Japanese automaker Toyota dominated the competition in the Consumer Reports  2018 ranking of the best vehicles in the U.S., drawing high marks for reliability and safety. More at USA Today. 

+   Mercedes and Ferrari have unveiled their new cars for the 2018 Formula 1 season,  with both teams hoping to build on development lessons learned in 2017. More at BBC Sport. 

+   A wingless prototype Mustang in camouflage wrap that could be the next Shelby GT500 or a rumored Mustang hybrid was spotted on the road in Wixom, Michigan. More at Motor Trend. 

+   A German court has delayed a ruling on whether major cities can ban heavily polluting diesel cars, crippling their resale value in Europe’s largest auto market. More at Reuters. 

+   Fiat Chrysler Automobiles CEO Sergio Marchionne was paid $11.95 million in salary and a bonus in 2017 along with millions in stock for the prior three years. More at the Detroit Free Press.

+   The 2018 Eclipse Cross, Mitsubishi’s new all-wheel drive compact crossover, will go on sale in showrooms in America in early March with a starting price of $24,290. More at Autoblog. 

+   Top sellers at the Mecum Auctions Los Angeles sale included a 1958 Facel Vega at $214,500, a 1959 VW bus at $137,000, and a 2006 Ford GT at $327,500. More at Hemmings Daily. 

+   NASCAR Xfinity Series driver Cole Custer, 20, will make his Monster Cup debut at Las Vegas driving a Ford for Rick Ware Racing with sponsorship from Haas Automation. More at NBC Sports.

Review the previous Executive Briefing from February 19 here. 

Photo courtesy of Mecum Auctions. 

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