MCG Executive Briefing for March 17, 2017

This rare 1938 Minneapolis-Moline UDLX Comfortractor is expected to bring $165,000 to $200,000 at the Mecum Auctions Spring Classic sale in Davenport, Iowa. Get all the latest auto industry news in the Executive Briefing. 

 

 

Today’s headlines:

+   Buick will replace its current Regal sedan in the U.S. market with Opel-based hatchback and sports wagon models, sources report. More at Motor Trend. 

+   Oliver Schmidt, the Volkswagen executive arrested in January in connection with the company’s diesel scandal, will remain in custody until his trial early next year. More at Automotive News Europe. 

+   BMW will have a self-driving car by 2021 with level 5 autonomy, fully capable of navigating without driver input, according to Senior Vice President Elmar Frickenstein. More at Reuters. 

+   Last weekend’s Las Vegas NASCAR Monster Cup race on Fox earned a 3.6 final rating and 6.0 million viewers, the smallest television audience since the event began in 1998. More at Sports Media Watch. 

+   European new car registrations rose 2.1 percent in February, although the high-volume brands lincluding VW, Opel, Vauxhall and Peugeot posted lower sales. More at CNBC.

+   Tesla Motors seeks to sell $1.15 billion in new stock and convertible securities to finance the rollout of its upcoming Model 3 mid-priced electric sedan. More at The Detroit News. 

+   Michigan-based auto supplier Chassix Inc. will invest $50 million to build a 140,000 square-feet plant in  Ostrava, Czech Republic. More at Crain”s Detroit Business.

+   A rare 1938 Minneapolis-Moline UDLX Comfortractor, one of only 25 known to survive, will be among the star attractions at the Mecum Auctions Spring Classic on March 31. More at Hemmings Daily. 

+   Ford and Magna International have partnered to develop a carbon-fiber chassis subframe that cuts weight by 34 percent and reduces component count from 45 parts to six. More at Automobile. 

+   McLaren has reportedly approached Mercedes about an engine supply agreement after the team’s Honda engines proved unreliable and underpowered in pre-season testing. More at Motorsport.com. 

Review the previous Executive Briefing from March 13 here.

Photo courtesy of Mecum Auctions. 

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