With a winning bid of $1.6 million, this freshly restored 1948 Tucker was the top-selling American car at the Bonhams Scottsdale sale. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Ford Motor Company posted its first quarterly loss in two years and an annual profit of $3.68 billion for 2018, roughly half its net return in the previous year. More at ABC News.
+ Computer and telephone giant Apple has dismissed more than 200 employees from Project Titan, its secretive autonomous vehicle division, the company reported. More at CNBC.
+ Porsche is doubling production of its new 600-hp Taycan electric sports car from 20,000 to 40,000 units per year, with deliveries scheduled for late in 2019. More at Motor Trend.
+ With Oliver Jarvis and the Mazda Team Joest DPi on the pole, the field is set for this weekend’s Rolex 24 Hours of Daytona, kicking off the North American racing season. More at Racer.
+ Carlos Ghosn has resigned his posts at Renault and will be replaced by Jean-Dominique Senard as chairman and Thierry Bollore as chief executive officer. More at Bloomberg.com.
+ General Motors plans to invest $22 million in a new line at its Spring Hill, Tennessee plant, formerly a Saturn facility, to produce 6.2-liter V8 truck engines. More at The Detroit News.
+ South Korea’s Hyundai Motor surprised the market by posting its first quarterly net loss in at least eight years, attributed to a sale decline in the key China market. More at Yahoo! Finance.
+ Top sellers at the Bonhams Scottsdale auction included a 1988 Ferrari 288 GTO at $3.36 million, a 1958 BMW 507 at $2.175 million, and a 1948 Tucker at $1.6 million. More at Hemmings Daily.
+ NHRA Funny Car driver Courtney Force, a 12-time national event winner and daughter of drag racing legend John Force, announced her retirement effective immediately. More at Fox News.
+ The Packard plant covered bridge over East Grand Boulevard, a Detroit landmark for many decades, collapsed into the street and was totally destroyed, but no one was injured. More at 62 CBS Detroit.
Review the previous Executive Briefing from January 21 here.
Photo courtesy of Bonhams.
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