This 1997 McLaren F1 GTR Longtail is expected to bring up to $7 million at the 2014 Gooding & Company Scottsdale Auction this week. Get all the latest car biz news in the Executive Briefing. -photo by Mathieu Heurtault for Gooding & Co.
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+ Formula One boss Bernie Ecclestone is resigning his post to face bribery charges in a German court, but retains day-to-day control of the series. More at the UK Telegraph.
+ The U.S. Treasury will sell $3 billion of its shares in Ally Financial, formerly GMAC, reducing its stake to 37 percent. More at the Detroit Free Press.
+ Haas Automation, Windshear Inc., and NASCAR team owner Gene Haas is formulating plans to organize a Formula One team. More at Sporting News.
+ Mercedes-Benz will restore the Maybach brand for a long-wheelbase version of the Mercedes S-class sedan. More at Autoblog.
+ General Motors is forecasting modest profits for 2014 as it invests in 15 new models and shores up its overseas operations. More at Bloomberg.com.
+ Tokyo-based Koito Manufacturing has agreed to plead guilty in the Justice Deptartment’s ongoing bid-rigging investigation. More at The Detroit News.
+ A McLaren F1 GTR and a Ferrari 288 GTO are among the star attractions at this week’s Gooding & Company Scottsdale Auction. More at Sports Car Digest.
+ Daimler AG will invest $259 million in its Vitoria, Spain plant for the production of medium-size vans. More at Automotive Business Review.
+ Ford is recalling nearly 28,000 Ford Edge crossovers from 2012 and 2013 to correct a fuel line defect that presents a potential fire hazard. More at Motor Trend.
For the previous Executive Briefing from January 13, click here.
Everyone knows that Bernie is guilty and like all white collar criminals who’ve stolen billions, he’ll get a slap on the hand, a relatively small financial settlement, and probation. It’s clear that the F1 board won’t be monitoring him very closely if they were willing to let him continue running F1. Hopefully they’ll come up with a replacement by the end of 2014.
Haas is foolish. He doesn’t have enough money to start a successful F1 team. If Jackie Stewart couldn’t make a go of it then I don’t hold much faith in Gene Haas. Penske maybe, twenty years ago. Ganassi or Andretti no, and definitely not Gene Haas. There’s a reason that the factory teams are at the front of the grid. I’m sure that Bernie wants an American team so that he can exploit the American races, but he doesn’t want one enough to have one on the podium. He thinks Americans are boors and this is just a just a gimmick to empty American pockets.
Maybach? Again? Make up your mind!, You killed off this brand less than 12 months ago! Mercedes-Benz embarrassed themselves once in trying to resurrect this brand, and the S Class is a sweet car; but this isn’t going to work. How about pushing Pullman moniker upmarket instead? M-B can’t continue to push themselves downmarket and maintain their credibility as top of the line manufacturers. Ask Cadillac. Even the AMG brand can’t prop them up. Not after adding trucks into the mix. They have been surpassed by both BMW and Audi. But hell, Porsche is selling electric targa tops to guys too fat to reach behind the seat for something the size and weight of a bath towel, so stranger things have happened.
Not my favorite McLaren F1 GTR livery, but these cars are hard to come by. Should fetch some decent cash. I’d prefer the Ferrari but I’ve already spent this week’s allowance so it’s a moot point.
Andy, I always enjoy your observations.
I’m slightly partial to the livery, perhaps because we’ve got an 1/18-scale model of that one in our office here.
ditto.