Ford announced it will end its funding of professional drag racing teams after 2014, including the powerhouse megateam of John Force Racing. Get all the latest auto industry news in the Executive Briefing.
Links open in new windows
+ Global engine vice-president Sam Winegarden and 10 other General Motors employees were fired amid an investigation of rigged emissions tests. More here at the Detroit Free Press.
+ Ford will end its financial support of NHRA professional drag racing teams and events at the end of 2014. More here at National Speed Sport News.
+ Earnings are up 7 percent at parts supplier Dana in the second quarter of 2013 despite a dip in sales. More here at CNBC.
+ Team principal Martin Whitmarsh says McLaren wants to see development driver Martin Magnussen in an F1 seat next year. More here at Yahoo! Sport UK.
+ Southfield, Michigan based seating and electrical supplier Lear Corporation posted a 13 percent increase in earnings for the second quarter. More here at Crain’s Detroit Business.
+ A prototype of the Acura NSX, slated for introduction in 2015, will perform parade laps at the Honda 200 IndyCar race at Mid-Ohio on Aug. 4. More here at The Columbus Dispatch.
+ Despite troubles in China, Toyota edged GM to remain the top seller worldwide in the first half of 2013. More here at The Detroit Bureau.
+ Ford reports it is recalling 33,021 C-Max hybrid cars to correct a roof defect involving passenger head protection. More here at Reuters.
For the previous Executive Briefing from July 26, click here.
I’m disappointed by the anger expressed in the comments over at National Speed Sport News. We’re still in perilous times for America’s car makers and Ford needs to run a tight ship. That funny car looks less like a Mustang than the NASCAR Nationwide version, which is a difficult feat to attain. It barely looks like a car. Ford is right to offer support to production-based racers at the expense of the exotic stuff. And I think that they’re preparing for an Indycar run and need to save a few bucks.
Attendance and car counts at NHRA events are falling. They don’t have 16 car fields for Pro Stock and Top Fuel at some events. I don’t see how Ford’s huge investment in professional drag racing can pay off.