This 1964 Shelby 289 Cobra brought $1.24 million at the Broad Arrow Amelia Island auction. Get all the latest automotive news in the Executive Briefing.
Today’s headlines:
+ BMW says new tariffs could dent the carmaker’s earnings by $1.09 billion this year, as escalating trade tensions between China, Europe, and the USA take a mounting toll. More at Business Day.
+ Ford CEO Jim Farley saw his total compensation packaged reduced 6.1 percent in $24.9 million in 2024 as the automaker failed to reach 90 percent of its earning target. More at CBT News.
+ In a Smartcar survey of more than 1,000 vehicle owners in the U.S. and Europe, 76 percent declined to sign up for subscription-based features and connectivity services. More at The Drive.
+ All 11 teams that will compete in Formula 1 from 2026 onward have signed the commercial portion of the new Concorde Agreement that will come into force next year. More at Racer.
+ President Donald Trump met with General Motors CEO Mary Barra to discuss the automaker’s investment plans amid his trade war, according to White House sources. More at U.S. News & World Report.
+ Ford announced that Michael Aragon, former Lumenon clothing CEO, will replace Peter Stern as president of Integrated Services, reporting directly to CEO Jim Farley. More at the Detroit Free Press.
+ The Insurance Institute for Highway Safety (IIHS) has picked its safest cars for 2025, with fewer making this year’s list due to more stiffer standards for rear seat passengers. More at Autoweek.
+ The Broad Arrow Auctions Amelia Island sale reported $61.7 million in sales and an 88 percent sell-through rate, led by a 1959 Ferrari California Spider that brought $9.466 million. More at Old Cars.
+ Frank Wiesmann of Porsche North America says the automaker plans to offer ICEs, PHEVs, and fully electrified vehicles “in every vehicle segment well into the 2030s.” More at Autoblog.
+ NASCAR is expected to return to Canada in 2026 with the Xfinity series reportedly staging an event at Montreal’s Circuit Gilles Villeneuve, according to Le Journal de Québec. More at Yardbarker.
Photo courtesy of Broad Arrow Auctions.
Review the previous MCG Executive Briefing from March 14 here.
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Rumor has it that Beaker and Dr. Bunsen Honeydew have forever been calling for rear seat crash test dummies. Supplemental restraint systems are more art than science, imagine all the airbag sales lost…
Tariffs on, tariffs off, tariffs delayed, tariffs modified. All this monkeying around costs the mfg’ers more than the tariffs themselves. It’s impossible to plan anything.