At $1.985 million, this 1948 Tucker was the top sale at Bonhams’ Tupelo Auto Museum liquidation auction. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Volkswagen reported that advance orders for its ID.3 entry-level electric hatchback, which goes on sale at $33,600 in 2020, surpassed 10,000 cars in the first 24 hours. More at CNBC.
+ Representatives of Tata Motors denied UK media reports that the India-based carmaker was planning to sell its Jaguar Land Rover unit to PSA Group of France. More at Automotive News Europe.
+ Led by CEO Jim Hackett, Ford officials told shareholders at the company’s annual meeting that the pieces are in place for greater profits and an increase in share price. More at The Detroit News.
+ NASCAR star Kyle Busch managed to escape a fine from series management following an expletive-riddled critique of the current rules package over the radio at Dover. More at USA Today.
+ Mazda confirmed that it is developing inline-six engines in both Skyactiv-X gasoline and Skyactiv-D diesel form for north-south installation in a new Large Architecture platform. More at Autoblog.
+ Observers of Cincinnati-based Workhorse expressed doubts that the electric truck maker can afford to acquire the soon-to-close General Motors plant in Lordstown, Ohio. More at Cincinnati.com.
+ Bonhams reports that its recent auction of the Tupelo Auto Museum collection generated more than $10 million, with the proceeds going to an educational fund. More at Classic Cars.com Journal.
+ Following a website data mishap, Subaru released its earnings results several hours ahead of schedule, posting a 48.5 percent decline in annual profits to $1.78 billion. More at Reuters.
+ On July 10, Bentley Motors Ltd. will officially mark 100 years in operation, and is celebrating the anniversary with special exhibitions at Pebble Beach and elsewhere. More at Hemmings Daily.
+ Formula 1 CEO Chase Carey expects next year’s calendar to remain stable at 21 races, but with events in Hanoi and possibly Zandvoort replacing two existing venues. More at Motorsport.com.
Review the previous Executive Briefing from May 3 here.
Photo courtesy and copyright of Bonhams.
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