This 1958 Ferrari 250 GT LWB Tour De France is expected to bring up to $6.5 million at the RM Sotheby’s Monterey auction. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ U.S. automakers reported a sharp rise in sales for the second quarter of 2021 due to strong demand for SUVs, while higher prices are generating increased profit margins. More at Reuters.
+ Honda will sell an electric SUV built in a General Motors plant in North America beginning in 2024, using GM’s Ultium EV technology and to be called the Prologue. More at the Detroit Free Press.
+ Volvo plans to make electric vehicles 50 percent of its sales by 2025 with a full EV lineup by 2030, and it has stopped development on internal-combustion engines. More at Car and Driver.
+ Chip Ganassi will sell his entire NASCAR operation, including his Concord, North Carolina race shop, to Justin Marks and Trackhouse Racing, effective at season’s end. More at The Charlotte Observer.
+ Insiders say Chevrolet has canceled plans to introduce a Z/28 version of the Camaro with the Z06 flat-crank V8 due to disappointing sales of the sixth-generation pony car. More at Motor Trend.
+ The federal Clean Air Act does not preclude Ohio from suing Volkswagen over the company’s efforts to cheat U.S. diesel emissions tests, the Ohio Supreme Court ruled. More at The Detroit News.
+ Porsche is reportedly preparing a global recall all of its Taycan EVs following reports of unexpected power loss, reportedly due to problems with the 12-volt auxiliary battery. More at Autoblog.
+ Headliners at the annual RM Sotheby’s Monterey sale on August 13-14 will include a 1958 Ferrari Tour De France, a 1983 Porsche 956, and a 1971 Lamborghini Miura. More at Classic Cars.com Journal.
+ Delaware Bankruptcy Judge Mary Walrath has approved a reorganization plan for Hertz rental car chain, paving the way for its comeback from chapter 11 bankruptcy. More at USA Today.
+ Ralph Wilke, second-generation owner of the famed Leader Cards Racing team that competed for five decades and won the Indy 500 three times, has passed away at 90. More at the Milwaukee Journal-Sentinel.
Photo courtesy and copyright of RM Sotheby’s.
Review the previous Executive Briefing from June 28 here.
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