MCG Executive Briefing for July 26, 2019

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This extremely original 1951 Ferrari 340 America by Vignale will be featured at the Bonhams Quail Lodge auction. Get all the latest auto industry news in the Executive Briefing.

 

 

Today’s Headlines: 

+   Ford announced that its annual profits would be lower than expected as second-quarter profits slid 86 percent due to the automaker’s ongoing global restructuring. More at The Detroit News. 

+  Rejecting Trump administration efforts to roll back emissions regulations, four major automakers have reached a deal with the state of California for tougher standards. More at the Los Angeles Times. 

+   After recovering in recent weeks, Tesla shares plunged 10 percent in extended trading after the carmaker posted a greater-than-expected second-quarter loss. More at CNBC. 

+   The St. Petersburg City Council announced that the Grand Prix of St. Petersburg will continue on the IndyCar schedule through 2024 with promoter group Green Savoree. More at MSN Autos.

+   South Korean battery maker LG Chem will invest $424.03 million to build a plant in its home nation to produce cathode material for lithium-ion batteries. More at Automotive News Europe. 

+   Hammered by a 99 percent slide in profits and a 13 percent decline in revenue for the second quarter of 2019, Nissan will slash its global workforce by 12,500. More at CNN.

+   Markus Flasch, director of BMW’s M performance division, says the German automaker is committed to traditional manual transmissions on the M3 and M4 through 2021. More at Autoblog. 

+   A 1951 Ferrari 340 America Vignale Coupe Speciale owned by one California family for 50 years will be offered at the Bonhams Quail Lodge auction on August 15-17. More at Classic Cars.com Journal. 

+  The upcoming Rivian electric pickup reportedly will be capable of zero-radius or “tank turns” in off-road use via the application of torque vectoring in its four electric motors. More at The Drive. 

+   NASCAR will modify its “arm’s-length” standard for pit crew members during pit stops that was previously used to penalize teams that fail to keep loose tires under control. More at NBC Sports.

Review the previous Executive Briefing from July 23 here.

Photo by Bonhams. 

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2 thoughts on “MCG Executive Briefing for July 26, 2019”

  1. Ford, Nissan, and Tesla take the hits. The automotive downturn is here.

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