With only 20,165 miles showing on its odometer, this 1967 Shelby 427 Cobra is expected to bring $1.1 million to $1.3 million at the annual Mecum Indianapolis auction this month. Get all the latest auto industry news in the Executive Briefing. 

Today’s headlines:

+   The board of directors of Fuji Heavy Industries, parent company of Japanese automaker Subaru, has elected to change its name to Subaru Corporation effective April 1, 2017. More at AutoGuide. 

+   Tesla Motors has hired Audi manufacturing chief Peter Hochholdinger to help oversee production as it seeks to increase vehicle output tenfold by 2018. More at The Detroit News. 

+   Honda will recall an additional 21 million cars with Takata airbag inflator defects, increasing the automaker’s total airbag recalls so far to 51 million vehicles. More at Automobile. 

+  In just his first start for the Red Bull Formula 1 team, 18-year old Max Verstappen won the Spanish Grand Prix, becoming the youngest Formula 1 winner in history. More at Yahoo! Sport UK. 

+   Fiat Chrysler Automobiles will reopen the Walter P. Chrysler Museum in Auburn Hills, Michigan to the public on a limited basis beginning in June. More at MLive. 

+   General Motors has halted sales of its Chevrolet Traverse, GMC Acadia, and Buick Enclave full-size crossovers to replace window stickers containing overstated fuel economy estimates. More at the Detroit Free Press. 

+   South Korea’s environment ministry announced that it will fine Nissan Motors $280,000, charging that the Japanese automaker manipulated emissions tests on its Qashqai crossover model. More at Reuters. 

+   Renault-Nissan boss Carlos Ghosn says restoring the reputation of Mitsubishi is the company’s biggest challenge, but the acquisition could save billions in vehicle development costs. More at Autoblog. 

+   A highly original 1967 Shelby Cobra 427 with only 20,000 miles will be among the star attractions at the Mecum Indianapolis auction on May 17-21. More at Hemmings Daily.

+   At the NHRA Southern Nationals in Atlanta, Doug Kalita defeated J.R. Todd in the Top Fuel final with a winning margin timed at .0000 seconds, the closest race in NHRA Top Fuel history. More at Motorsport.com. 

Review the previous Executive Briefing from May 13 here.

Photo courtesy of Mecum Auctions. 

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