First owned by Lord Howe and formerly driven by Tazio Nuvolari and Piero Taruffi, this 1931 Bugatti Type 51 will headline the 2016 Bonhams Quail Lodge Auction on August 19. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Second-quarter earnings at Ford fell 9 percent to $2 billion due to falling sales in the U.S., higher costs in China, and a weaker British Pound following the Brexit vote. More at The Detroit News.
+ Despite the company’s Dieselgate troubles, Volkswagen edged ahead of Toyota to become the world’s top automaker in the first six months of 2016 with 5.116 million vehicles sold. More at Reuters.
+ The share price of Wisconsin truck maker Oshkosh Corp. jumped to $52 as quarterly earnings came in well above analysts’ expectations. More at Bloomberg.com.
+ Under pressure from the French government, Renault cut the bonus of CEO Carlos Ghosn by 20 percent to an amount equal to 120 percent of his annual salary. More at Automotive News Europe.
+ Veteran land speed racer Sam Wheeler was killed in testing at Bonneville after his streamlined motorcycle lost control and crashed at 200 mph. More at Fox News.
+ As planned, Fiat Chrysler Automobiles will shift the assembly of passenger cars to Canada, Mexico, and elsewhere by early 2017, while Ram and Jeep production will be focused in the U.S. More at the Detroit Free Press.
+ Mercedes-Benz plans to introduce an AMG GT C in 2017 that slots in between the current GT S and GT R models and will be offered as both a coupe and convertible. More at Motor Trend.
+ The first Chevrolet medium-duty trucks (based on the Isuzu N-Series) have rolled off the production line at the Spartan Motors assembly plant in Charlotte, Michigan. More at Automotive Business Review.
+ Bristol Cars has formally unveiled the Bristol Bullet, a BMW-powered roadster with a projected price of $328,000 and styling based on the classic Bristol 405. More at Autoblog.
+ A 1931 Bugatti Type 51 Grand Prix once owned by Lord Howe and driven by Tazio Nuvolari will headline the 2016 Bonhams Quail Lodge Auction on August 19. More at Sports Car Digest.
+ After 27 years, Target will end its sponsorship of the Chip Ganassi Racing IndyCar operation at the end of this season, though it will remain with the team’s NASCAR entry. More at Racer.
Review the previous Executive Briefing from July 25 here.
Photo courtesy of Bonhams.
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Big move, Chevrolet re-entering the medium-duty truck market. Many overlooked it — a mistake.
Looks like Chrysler is going farther down the toilet. A once proud American brand now will be built out of the country. Walter Chrysler probably is rolling in his grave. Sad another American icon taken away by foreign ownership.