MCG Executive Briefing for July 2, 2018

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This Ferrari Mondial 500 Series II is expected to bring $5.5 million to $7.5 million at the Gooding & Company Pebble Beach Sale in August. Get all the latest auto industry news in the Executive Briefing. 

 

 

Today’s Headlines:

+   Hyundai has dismissed as “totally groundless” reports that the Korean automaker plans to acquire Fiat Chrysler Automobiles, creating the world’s largest auto company. More at CNET Roadshow. 

+   Volkswagen Group CEO Herbert Diess told a German newspaper the arrest of Audi head Rupert Stadler in the ongoing diesel emissions scandal was a “massive shock.” More at Reuters. 

+   Magna and BMW have joined a chorus of North American auto manufacturers and suppliers in imploring the Trump administration to reverse its tariff policies. More at The Detroit News. 

+   Sources close to NASCAR say the France family is not in search of a potential new majority owner for the organization, but is seeking investors to take minority positions. More at Forbes. 

+   Ford will join Volvo in skipping the 2019 Geneva Auto Show in March, asserting that the event is a poor fit for its new vehicle launch schedule next year. More at Automotive News Europe. 

+  Fiat Chrysler Automobiles has rolled out the 2019 Dodge Charger with minor changes and a range of engines from the base 292-hp V-6 to the 707-hp Hellcat V8. More at Motor Trend. 

+   A rare four-cylinder 1955 Ferrari Mondial 500 with one owner for 58 years will be among the star attractions at the Gooding & Company Pebble Beach Sale on August 24-25. More at Hemmings Daily. 

+   Ziad Ojakli, top global lobbyist for Ford Motor Company, will leave the automaker to take a position with the Japanese technology conglomerate SoftBank Group. More at the Detroit Free Press. 

+   Tesla Inc. reported it has met a self-imposed production quota of 5,000 Tesla 3 sedans per week, although the company reportedly missed its deadline by several hours. More at Autoblog.

+   Mercedes Formula 1 boss Toto Wolf admitted the team “overthought” a mistaken pit stop call at the Austrian Grand Prix, costing Lewis Hamilton a potential race victory. More at Motorsport.com. 

Review the previous Executive Briefing from June 29 here. 

Photo by James Lipman courtesy of Gooding & Company. 

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3 thoughts on “MCG Executive Briefing for July 2, 2018”

  1. I am shocked that VW management did not foresee criminal arrests from the German government. That is not very alert.

    • They might have been less surprised had they known that Stadler was trying to destroy evidence, a federal crime. Maybe they did know. Maybe there are more high level arrests to come. Interesting times for the VW Group.

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