Hammering down for $115,000, this 1970 Pontiac GTO Judge in screaming Orbit Orange was one of the top 10 sellers at the Mecum Auctions Denver sale. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Lincoln’s new Continental flagship sedan will be built at Ford’s Flat Rock, Michigan plant, where the Mustang and Fusion are also assembled. More at The Detroit News.
+ Canada-based automotive supplier Magna International has agreed to purchase German transmission manufacturer Getrag for $1.9 billion. More at ABC News.
+ Fiat Chrysler Automobiles boss Sergio Marchionne does not plan to make another merger offer to General Motors after the initial proposal was rebuffed. More at Reuters.
+ Shares in Hertz Global Holdings Inc. jumped 20 percent after the rental-car company forecast annualized cost savings of $300 million by year-end, $100 million more than its goal. More at Bloomberg.com.
+ After 15 years with ESPN, the National Hot Rod Association will move its drag racing television coverage to Fox Sports in 2016 with a multi-year deal. More at NBC Sports.
+ With sales down 8.9 precent last month, Ford is offering discounts of up to $10,479 on the new F-150 pickup, its largest-volume vehicle. More at the Detroit Free Press.
+ Porsche will spend $1.21 billion through 2020 building new engine and body facilities at its main plant in Zuffenhausen in southern Germany. More at the Economic Times.
+ In a 15-page memo, the U.S. Department of Labor has provisionally ruled that drivers for ride-hailing services such as Uber and Lyft are employees rather than contractors. More at Motor Trend.
+ The Mecum Auctions Denver 2015 sale on June 26-27 generated 396 vehicle sales for a total of $12,003,418 and a 66 percent sell-through rate. More at Sports Car Digest.
+ Kenny Wallace announced that the Cellular 250 Xfinity series event at Iowa Speedway on Aug. 1 will mark the final start of his 26-year NASCAR career. More at Racer.
Read the previous Executive Briefing from July 13 here.
Photo courtesy of Mecum Auctions
I also had in 1980, his good adventure with a V8 .. It’s just that I bought for only $ 100 .. 🙂 http://new4stroke.com/car.jpg
Hallelujah, adios to ESPN for drag racing. Tired of drag racing being delayed ( until 1 am) because of women’s cricket ( or whatever). Now, if we could cut the fuel, and go back to 1/4 mile for fuel cars, that would be neat. It’ll never happen. Still, hope NHRA gets the viewers it deserves with FS1. Always like Mike Dunn’s commentary. I wonder if he’ll stay on.