Mecum Auctions sold $130 million in collectors cars in January, including this 1972 Ferrari Daytona that brought $544.500 at the Kissimmee sale. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Income at General Motors for 2019 fell 17.4 percent to $6.7 billion due to the 40-day strike, but the company remained in the black with an operating profit of $8.4 billion. More at The Detroit News.
+ Ford Motor stock fell sharply in price when the company reported weak 2019 earnings of $1.19 per share, down from $1.30 last year and below company estimates. More at Motley Fool.
+ Fourth-quarter earnings at Fiat Chrysler rose 16 percent to $2.3 billion on strong North American sales, but annual profits for 2019 slipped 1 percent to $7.3 billion. More at Automotive News Europe.
+ Toyota will ramp up the volume at its new Apaseo El Grande plant to 100,000 units a year by 2021 as the company shifts pickup truck production from the USA to Mexico. More at Reuters.
+ Comp Cams, leading U.S. maker of performance camshafts, has been acquired by Industrial Opportunity Partners, the private equity firm that owns Edelbrock LLC. More at Race Tech.
+ Top Fuel Eliminator at the season-opening NHRA Winternationals in Pomona will feature a short field as the two Torrence Racing entries abruptly pulled out. More at The Orange County Register.
+ In Los Angeles, Cadillac unveiled its latest Escalade flagship SUV, featuring redesigned sheet metal, standard 420-hp V8, and Enhanced Super Cruise driver assist system. More at Motor Trend.
+ Mecum Auctions reported sales of $130 million on 5,259 lots of collector cars from its January 2020 auctions in Kissimmee, Florida, and Las Vegas, Nevada. More at Classic Cars.com Journal.
+ Chrysler’s revised Pacifica minivan features an all-wheel-drive system capable of rear-drive only and and Amazon Alexa-linkable UConnect5 Infotainment system. More at The Drive.
+ U.S.-based Haas F1 is the first Formula 1 team to unveil its 2020 car, the VF-20, which features a gray, black, and red paint scheme similar to its 2018 livery. More at Autosport.
Review the previous Executive Briefing from February 3 here.
Photo courtesy and copyright of Mecum Auctions.
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