MCG Executive Briefing for June 9, 2017

This 1935 Packard Twelve Dual Cowl Phaeton owned by Al and Sandra San Clemente took home Best of Show American honors at last weekend’s 2017 Greenwich Concours d’Elegance. Get all the latest auto industry news in the Executive Briefing. 

 

 

Today’s headlines:

+   Volkswagen of America has named freshly departed Hyundai executive Derrick Hatami, 44, as its new head of U.S. sales and marketing. More at Automotive News Europe. 

+   Backing CEO Mary Barra, General Motors shareholders resoundingly rejected a proposal by hedge fund manager David Einhorn to split the company’s stock into two classes. More at USA Today

+   Irish road racer Alan Bonner died following a crash during qualifying for the Senior TT on the Isle of Man, becoming the third fatality so far this year at the historic motorcycle event. More at BBC Sport. 

+   Lenders and finance companies have dramatically pulled back the number of subprime auto loans they issue to a 10-year low, according to a new Experian report. More at CNBC. 

+   NASCAR driver Ryan Blaney, currently on loan to the Wood Brothers, could rejoin Penske Racing next year in a third Ford alongside Brad Keselowski and Joey Logano. More at Motorsport.com.

+   The fourth-generation A8 that debuts in July will feature a mild hybrid powertrain and 48-volt electrical system as standard equipment, Audi has confirmed. More at Motor Trend.

+   Renault-Nissan boss Carlos Ghosn is recruiting a new second-in-command for the carmaking alliance to prepare his own succession and expedite the companies’ integration. More at Reuters. 

+   To meet the demand for Ford Escape and Lincoln MKC crossovers, Ford will keep its Louisville, Kentucky plant open an extra week through the traditional summer shutdown. More at Autoblog.

+   General Motors could conclude the sale of its European Opel division to France’s PSA Group as early as July 31, pending regulatory approval. More at The New York Times. 

+   The National Hot Rod Association has released its 2018 Mello Mello Drag Racing Series schedule, which will once again feature 24 events with minor changes. More at Dragzine. 

+   A 1935 Packard Twelve Dual Cowl Phaeton owned by Al and Sandra San Clemente earned Best of Show American honors at last weekend’s 2017 Greenwich Concours. More at Hemmings Daily. 

+   Two-time Formula 1 champion Fernando Alonso, now in the final year of his contract, says he will renew with McLaren if the team can return to winning form by September. More at Racer. 

Review the previous Executive Briefing from June 5 here.  

Photo by Bryan McCarthy and Bearded Mug Media, courtesy Greenwich Concours d’Elegance.

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