One of only five produced, this 1970 Hemi ‘Cuda four-speed convertible hammered down for a staggering $2.675 million at the Mecum Auctions sale in Kissimmee, Florida. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ In Manhattan, the first federal trial involving a defective General Motors ignition switch was dismissed amid accusations of perjury by the plaintiff. More at Fox Business.
+ Steve Zadesky, The 16-year veteran Apple employee who has been running Apple’s secret vehicle development program for the past two years, is leaving the company for an undisclosed reason. More at PC magazine.
+ Jaguar Land Rover, now a division of Tata Motors of India, has topped Nissan in production at nearly 500,000 units to become the largest auto producer in the United Kingdom. More at Automotive News Europe.
+ Fiat Chrysler Automobiles has increased the capacity at its Warren, Michigan Stamping plant to 84 million parts a year with a $63 million investment in a new servo tandem press line. More at The Detroit News.
+ Formula 1 will not pursue a reintroduction of mid-race refueling in the series, as the organization’s Strategy Group determined that the move conflicts with plans to control costs. More at Racer.
+ Volkswagen’s cheating on diesel emissions standards was an open secret in its engine development department, according to Sueddeutsche Zeitung, Germany’s largest daily. More at Reuters.
+ General Motors is consolidating and expanding its car-sharing programs under a new brand, Maven, after investing $500 million in Lyft, an Uber rival. More at Crain’s Detroit Business.
+ Johnson Controls is a exploring a merger with Tyco International as the company continues its plans to spin off its automotive supplier operations into a new firm called Adient. More at Bloomberg.com.
+ In a strong day for classic American horsepower at the Mecum Kissimmee auction on Saturday, Chrysler Street Hemi-powered muscle cars swept the top five sales spots. More at Classic Cars.com.
+ The Dutch car magazine Autovisie has obtained a leaked brochure for the 2017 Jaguar F-Type SVR with details and specifications, including the rated output: 567 hp. More at Motor Trend.
+ In Charlotte, the 2016 class was formally inducted into the NASCAR Hall of Fame: Bruton Smith, Terry Labonte, Jerry Cook, Curtis Turner, and Bobby Isaac. More at Motorsport.com.
Read the previous Executive Briefing from January 22 here.
Photo courtesy of Mecum Auctions.
When you get a car like that Cuda, all you need is only (2) people wanting it badly enough to be willing to pay that kind of money for it. I’d like it myself but I couldn’t afford the buyer’s premium, let alone the hammer price…
2 bidders have too much money to burn
Is $2.7 million a good price these days? I thought that a few years ago these things were fetching 4 or 5 million. I would like to have a 1970 four-speed Barracuda convertible, but I’d like to be able to drive it without watching my cash go out the tail pipe too. Hemis are too fussy; maybe I’ll go with a slant 6. Built like the Rock of Gibraltar.