MCG Executive Briefing for June 16, 2014

1971 Hemi CudaA rare 1971 ‘Cuda Hemi four-speed convertible hammered down for a record $3.5 million at the Mecum Seattle auction. Get all the latest car biz news in the Executive Briefing. 

 

 

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+   Chrysler Group LLC has nearly doubled the size of its board, adding key company executives and the former chief financial officer of Philip Morris. More at The Detroit News. 

+   Oregon-based Lithia Motors has agreed to acquire DCH Auto Group for $362.5 million, creating one of the largest retail car dealer chains in the USA. More at Reuters. 

+   Formula One superstar Michael Schumacher is out of a coma and is no longer in intensive care, his family has confirmed. More at Speed Cafe.com

+   Automotive parts manufacturer Southtec will invest $23.6 million to expand stamping operations at its Lebanon, Tennessee plant. More at Automotive Business Review. 

+   Audi fought to a dramatic 1-2 finish in the 82nd running of the 24 Hours of Le Mans, its 13th overall victory in the event. More at NBC Sports. 

+   General Motors has recalled all current-generation Camaros, numbering over 500,000 cars, to correct an ignition switch defect. More at The New York Times. 

+   NASCAR Sprint Cup driver Carl Edwards has reportedly turned down an offer to leave Roush Fenway and join Richard Childress Racing in 2015. More at Jayski. 

+   A 1971 ‘Cuda 426 Street Hemi four-speed convertible, the only matching-numbers example in existence, sold for a record $3.5 million at the inaugural Mecum Seattle auction. More at Classic Cars.com.

+   Honda’s recall of vehicles equipped with defective airbag inflators manufactured by Takata Corp. could exceed one million units. More at Reuters.

+   Ray Fox, pioneer NASCAR crew chief, team owner and Daytona Beach racing shop operator, has passed away at age 98. More at the Daytona Beach News-Journal.

For the previous Executive Briefing from June 13, click here.

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4 thoughts on “MCG Executive Briefing for June 16, 2014

  1. Not much good news today(unless you own a Hemi Cuda convertible).

    Even the news on Schumacher isn’t much to celebrate. If he was in better shape than the news from a couple months ago, I’m sure there would have been a more upbeat statement.

    • Exactly. I believe folks realize that if it were possible, there would be a photo of Schu looking into the camera and giving the thumbs-up sign.

  2. Have I missed something? $3.5m for a Cuda? Sorry but I am about 100% less on it than that. And I suspect a very bad investment too. The market will drop on these cars. Here in Oz we had million dollar Falcon GTs that currently would struggle to make half of that.

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