Jeep-Ram boss Mike Manley has been appointed CEO at Fiat Chrysler Automobiles to replace Sergio Marchionne, who reportedly faces a medical crisis. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Effective immediately, Fiat Chrysler Automobiles has appointed current Jeep-Ram chief Mike Manley to replace CEO Sergio Marchionne, whose medical condition is reported as “extremely serious.” More at The Detroit News.
+ JP Morgan analysts predict that shares in electric carmaker Tesla will plunge more than 40 percent before the end of the year, calling a target price of $180 in December 2018. More at CNBC.
+ Hyundai’s N division wants to produce a stand-alone halo model alongside its high-performance versions of the i30 and Veloster, says division VP Thomas Schemera. More at Motor Trend.
+ Mercedes Formula 1 driver Lewis Hamilton was allowed to keep his victory in this weekend’s German Grand Prix but was handed a reprimand for cutting the pit lane. More at Racer.
+ Dave Maraj, a successful Audi dealer and founder of the Champion Racing sports car team that won five ALMS championships, has died in a boating accident. More at National Speed Sport News.
+ Security firm UpGuard Cyber Risk disclosed that sensitive files from GM, Ford, Toyota, and others were exposed on a publicly accessible server owned by Level One Robotics. More at TechCrunch.
+ Waymo’s fleet of more than 600 self-driving vehicles is now logging 25,000 test miles per day on public roads in 25 cities, according to chief executive John Krafcik. More at Autoblog.
+ Actor, rapper, and model Mark Whalberg has opened a Chevrolet dealership on the west side of Columbus, Ohio in the facility formerly known as Bobby Layman Chevrolet. More at MSN Autos.
+ A replica Ferrari California Spyder featured in the movie Ferris Bueller’s Day Off will be offered at the 2018 Mecum Monterey sale on August 21-22. More at Classic Cars.com Journal.
+ Mike Beam, president of the GMS Racing NASCAR team, has made a bid of $1.8 million for the team charter and other assets of the bankrupt BK Racing Monster Cup operation. More at ESPN.
Review the previous Executive Briefing from July 20 here.
Photo by Fiat Chrysler Automobiles.
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