At just over $2.2 million, this 1965 Ferrari 275 GTB was the top seller at the RM Sotheby’s Amelia Island sale. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ New vehicle sales in Europe were flat for 2018 at 15.54 million units, but volume in SUVS and crossovers of every size and price category leaped 18 percent to 5.3 million. More at Automotive News Europe.
+ The United Auto Workers are preparing for contract negotiations later this year with Detroit’s three automakers at a special convention for international and local delegates. More at The Detroit News.
+ The Italian private equity group InvestIndustrial has acquired a majority ownership stake in the Morgan Motor Company, founded nearly 110 years ago in Malvern Link, UK. More at Hemmings Daily.
+ Motorsports mogul Roger Penske revealed that he received a kidney transplant shortly after the 2017 IndyCar season finale, with his son Greg Penske serving as donor. More at ESPN.
+ At the Geneva Motor Show, Italdesign revealed the DaVinci Concept, an electric-powered all-wheel-drive 2+2 with gullwing doors that could also host a 4.0 liter V8. More at Autoblog.
+ The market for Japanese collector cars continues to heat up, as a 1994 Supra six-speed with just 11,200 miles on the clock brought $173,600 in an online auction. More at The Drive.
+ The new Fiat Chrysler Automobiles plant in Detroit and the 5,000 jobs it is expected to generate are good news for the city’s credit rating, according to Moody’s. More at the Detroit Free Press.
+ Japanese giant Nissan reports that its compact Leaf sedan, first offered to the public in 2010, is the first electric passenger car to surpass 400,000 in worldwide sales. More at CNBC.
+ The collector car auctions surrounding the Amelia Island Concours generated $80 million in sales, a 71 percent sell-through rate, and an average selling price of nearly $250,000. More at Classic Cars.com Journal.
+ Formula 1 sporting chief Ross Brawn says the series is determined to keep the British Grand Prix on the schedule despite an impasse in contract negotiations. More at Autosport.
Review the previous Executive Briefing from March 8 here.
Photo by Greg Kaysar copyright and courtesy of RM Sotheby’s.
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