Hammering down for $77,000, nearly $16,000 above high book value, this 1934 Ford Deluxe Roadster was among the top 10 sellers at the annual Auctions America Auburn Spring Sale. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Japanese car maker Nissan will take a $2.2 billion, 34 percent stake in rival Mitusbishi Motors in the wake of Mitsubishi’s recent fuel economy cheating scandal. More at the BBC.
+ General Motors’ Chevrolet division has renewed its sponsorship as the official vehicle of Major League Baseball in a multi-year deal. More at The Detroit News.
+ By a wide margin, Ford shareholders once again voted to retain the Ford family’s 40 percent voting power in the corporation through its Class B shares. More at Reuters.
+ PSA Group, maker of Peugeot and Citroen autos, and Dongfeng Motors of China will develop an electric version of their Common Modular Platform (CMP) for vehicles. More at Automotive Business Review.
+ Haas Formula 1 driver Romain Grosjean and chief operating officer Joe Custer are working out a plan to field Grosjean in a Stewart-Haas NASCAR entry. More at Racer.
+ Annual new car sales are expected to top 20 million by 2018, and General Motors, Ford and Honda will enjoy market-share gains over the next four years, according to Bank of America Merrill Lynch. More at the Detroit Free Press.
+ At its annual shareholder meeting, BMW announced the iNext autonomous electric vehicle, which it expects to bring to market by 2021. More at The Verge.
+ As a Dodge Hellcat fighter, a Ford dealer in Lebanon, Ohio is offering Roush blower-equipped Mustang GTs with 727 horsepower for $39,995. More at Autoblog.
+ Gabby Chaves will replace Luca Filippi as driver of the No. 19 Dale Coyne Racing entry for the Angie’s List Grand Prix of Indianapolis and the 100th Indianapolis 500. More at NBC Sports.
+ Top sellers at the 2016 Auctions America Auburn Spring Sale included a 1968 Ferrari 365 GT 2+2 at $247,500 and a 1934 Ford Model 40 Roadster at $77,000. More at Hemmings Daily.
+ A 2018 Camaro Z/28 prototype in camouflage wrap was captured on video in a minor crash on the historic Nürburgring road course in Germany. More at Motor Authority.
Review the previous Executive Briefing from May 9 here.
Photo courtesy of Auctions America.
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