Terry Cook’s trendsetting 1939 Lincoln Zephyr custom, Scrape, will be offered at the RM Sotheby’s Santa Monica sale, where it is expected to bring $300,000 to $400,000. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Ford Motor Company will oust CEO Mark Fields and reorganize its senior leadership team in response to criticism of its poor stock price performance since 2014. More at The Detroit News.
+ BMW CEO Harald Krueger says the automaker will concentrate on leadership in electric drivetrains and connectivity rather than on increasing its sales volume. More at Automotive News Europe.
+ Volkswagen’s Audi group reports it has settled a dispute with its dealer chain in China caused by multiple manufacturing and distribution paths with its joint venture partners. More at Reuters.
+ According to a study by transportation analytics firm INRIX, the worst five American cities for traffic jams are Santa Monica, Miami, Atlanta, San Francisco, and New York. More at USA Today.
+ IndyCar driver Sebastien Bourdais successfully underwent pelvis surgery following a violent crash in qualifying for the Indy 500, with James Davison tabbed as his substitute. More at ABC News.
+ The battle between General Motors management and shareholder activist David Einhorn is reportedly headed for a confrontation at the company’s annual meeting on June 6. More at the Detroit Free Press.
+ Ford will manufacture a new front-drive automatic transmission at its Livonia, Michigan transmission plant just west of Detroit, creating or retaining up to 800 hourly jobs. More at The Detroit News.
+ The first Lamborghini Centenario, one of 40 produced and priced in the $2 million range, in the U.S. has been delivered to its owner in Newport Beach, California. More at Motor Trend.
+ Terry Cook’s radically customized Lincoln Zephyr, Scrape, originally built in 1998 and recently refurbished, will be offered at the RM Sotheby’s Santa Monica auction on June 24-25. More at Hemmings Daily.
+ At the NHRA Menards Heartland Park Nationals in Topeka, Matt Hagen recorded the quickest and fastest funny car run in history at 3.802 seconds at 338.85 mph. More at the Topeka Capital-Journal.
Review the previous Executive Briefing from May 19 here.
Photo by Robin Adams courtesy of RM Sotheby’s.
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I read that Mark Fields is out at Ford, and I think that is a mistake on their part. Too many companies are being ruined in search of Wall Street’s quest for ever increasing profits. Which they will take and buy foreign cars with. Although I think less of Mary Barra, GM can’t allow themselves to be pushed around either. Chrysler has been gasping since the Sixties and should have passed in the Nineties.
I don’t know if 3.80 is quick or not. My mind never learned to process the 1000 ft. times. I’m not even sure if I care.