This 1961 Ferrari 250 SWB California Spider is expected to bring up to $14.85 million at the RM Sotheby’s Concorso Villa d’Este sale on May 23. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ At Belle Isle in Detroit this past weekend, General Motors formally unveiled the 2016 sixth-gen Camaro, which hits the showrooms later this year. More at Mac’s Motor City Garage.
+ Billionaire mega-investor Carl Icahn is backing Lyft, a ride-sharing startup enterprise currently valued at $2.5 billion, with a $100 million stake. More at Wired.
+ Nissan Motor Co. plans to build more than a million vehicles in Japan next year for the first time since 2013, as a weaker yen boosts export earnings. More at The Detroit News.
+ The Formula One Strategy Group has unveiled an aggressive plan to revitalize the series for 2017 that includes louder, higher-revving engines and a return to refueling stops. More at Autosport.
+ New car and light truck sales in Russia continue to plummet, recording a 42 percent decline in April compared to the same month last year. More at Bloomberg.com.
+ Penske Corp. is seeking a buyer for its Truck-Lite unit, manufacturer of truck lighting, wiring harnesses, and mirrors, with the asking price set at $1 billion. More at Reuters.
+ German transmission maker ZF Group has completed the acquisition of Livonia, Michigan-based TRW Automotive in a $12.4-billion deal that could produce more Detroit-area jobs. More at the Detroit Free Press.
+ This month’s RM Sotheby’s Villa d’Este 2015 sale at Villa Erba on the shores of Lake Como, Italy, will feature 37 world-class collector cars and two classic Riva pleasure boats. More at Sports Car Digest.
+ After last-minute changes to the technical rules by IndyCar due to safety concerns generated by three airborne crashes, Scott Dixon of Chip Ganassi Racing took the pole position for next Sunday’s Indianapolis 500 with a speed of 226.790 mph. More at Racer.
Photo by Tim Scott for RM Sotheby’s.
Read the previous Executive Briefing from May 15 here.
Mary Barra’s decision to wind down GM’s Russian operation looks smarter all the time. In poker, it’s called good chip management.