With only 7.9 miles showing on its odometer, this nearly flawless 1979 Pontiac Trans-Am 10th Anniversary Edition sold for $187,000, far beyond the market, at the Barrett-Jackson Scottsdale auction. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ General Motors reported a record $9.7 billion in annual profits in 2015, earning each of the company’s 49,600 union workers a profit-sharing check for $11,000. More at The Detroit News.
+ Volkswagen has replaced the head of its U.S. legal department with outside counsel as it seeks to win government approval to repair nearly 600,000 vehicles that circumvented diesel emissions standards. More at Automotive News Europe.
+ Brazil’s trade minister called for unrestricted auto trade with Mexico and Argentina after data showed that production in the local sector fell 29 percent, the worst January in a dozen years. More at Reuters.
+ Spy photos have been obtained of a Porsche Panamera Sport Turismo station wagon test mule under development in Germany. More at Autoblog.
+ Former Ferrari boss Luca di Montezemolo said news on the condition of Formula 1 driving legend Michael Shumacher, injured in a 2014 skiing accident, is “not good,” but would not elaborate. More at the UK Telegraph.
+ Following a plunge in sales from the 2006 peak of 173,000 units to 56,000 units in 2015, Toyota has killed its ailing Scion brand founded in 2003. More at USA Today.
+ German parts supplier Continental has joined the global airbag disaster, reporting that five million vehicles using the company’s components will require recalls. More at CNet.
+ American actor and car enthusiast Matt LeBlanc, who played Joey in the long-running TV sitcom Friends, will join the new cast of BBC’s Top Gear. More at the UK Guardian.
+ At the Barrett-Jackson Scottsdale auction, a 1979 Trans-Am 10th Anniversary Edition with only 7.9 miles showing on the odometer sold for a record $187,000. More at Hemmings Daily.
+ NASCAR team owner/driver Tony Stewart, hospitalized with a back injury in a dune buggy mishap, will miss the season-opening Daytona 500 and possibly several more events. More at Sporting News.
Read the previous Executive Briefing from February 1 here.
Photo courtesy of Barrett-Jackson.
I wonder how far the Ponti has really been driven. They usually do that and more being delivered to the dealer and pre delivery. Looking at the tyres will possibly tell, with 8 miles all the mould lines and nipples should be there, though a 35 y/o Polyglass will be pernemantly out of round by now unless the car has lived on jack stands.
Actually I thought those cars had radials standard anyway?