This 1965 Cobra 427 CSX4000 series roadster was the top seller at the Mecum Tulsa auction, bringing $409,750. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ General Motors will invest more than $81 million in a facility at its Global Technical Center in Warren, Michigan to produce the hand-built Cadillac Celestiq flagship EV. More at The Detroit News.
+ Tesla has again raised its prices for all its car models in the United States in response to persistent global supply-chain problems and soaring raw material costs. More at Reuters.
+ Sony and Honda have formalized a 50-50 joint venture called Sony Honda Mobility, Inc. that will be headquartered in Tokyo and begin electric vehicle production in 2025. More at Electrek.
+ The FIA has introduced a new technical directive limiting the amount of porpoising in the chassis of Formula 1 cars to protect drivers from back pain and related injuries. More at the UK Guardian.
+ Ford has halted sales of the Mustang Mach-E electric crossover and issued a recall to repair nearly 49,000 vehicles with a potential defect in the battery main contactors. More at Autoblog.
+ Porsche has agreed to a class-action settlement of at least $80 million to resolve claims it skewed emissions and fuel economy data on 500,000 vehicles sold in the USA. More at Yahoo! Finance.
+ Ferrari intends to make 60 percent of its fleet thybrid or fully electric by 2026 and 40 percent all-electric by 2030, but still plans to produce gasoline models for the foreseeable future. More at The Drive.
+ A 1965 Cobra 427 CSX4000 Series continuation car with handformed, polished aluminum bodywork was the top seller at the Mecum Tulsa auction, bringing $409,750. More at Hemmings Daily.
+ Volkswagen is working on processes that will allow it to recycle battery materials multiple times, with the ultimate objective of creating a permanently closed material cycle. More at Autoweek.
+ Track officials at Road America in Wisconsin are studying changes to Turn 5 on the road course after the Indy Lights racer of Christian Bogle was launched into the fencing. More at Racer.
Photo courtesy of Mecum Auctions.
Review the previous Executive Briefing from June 13 here.