MCG Executive Briefing for May 23, 2016

1969 Mustang Boss 429 AAEarly consignments to the Auctions America California Sale on June 25-26 include a freshly restored 1969 Mustang Boss 429 that is expected to bring up to $275,000. Get all the latest auto industry news in the Executive Briefing. 

 

 

Today’s Headlines: 

+   General Motors will pay buyers of selected 2016 SUVs an average of $450 to $900 each to compensate for overstated fuel economy claims of one to two miles per gallon. More at The Detroit News. 

+   Airbus division APWorks in Germany is using its 3D printing expertise to build a 50-unit run of ultra-lightweight electric motorbikes priced at $56,100 each. More at The Verge.

+   Troubled German carmaker Volkswagen will unveil a new corporate strategy in mid-June that is designed to carry the company to profitability through 2025. More at Reuters. 

+   One year after a practice crash that nearly took his life, driver James Hinchcliffe earned the pole position for next Sunday’s Indianapolis 500 with an average speed of 230.760 mph. More at the Indianapolis Star. 

+   Toyota has announced a technical partnership with Segway inventor Dean Kamen to develop advanced wheelchairs for disabled people and aging populations worldwide. More at Bloomberg.com. 

+   Ride-hailing company Uber announced that it soon will begin testing its self-driving cars, based on Ford Fusion hybrids, on the streets of Pittsburgh. More at Automotive Business Review. 

+   Fiat Chrysler Automobiles will invest $12.2 million in a 400,000 square-foot Mopar Parts distribution center in Winchester, Virginia, creating 70 jobs. More at MLive. 

+   At the Concorso d’Eleganza Villa d’Este in Lake Como, Italy, Aston Martin unveiled the V12-powered, 592-hp Vanquish Zagato coupe concept. More at Business Insider. 

+   NASCAR Vice President of Competition Scott Miller took responsibility for the strange and confusing format devised for this past weekend’s Sprint All-Star race in Charlotte. More at Fox Sports.

+   The fourth annual Auctions America California sale on June 25-26 at the Barker Hangar in Santa Monica will feature around 300 automobiles and select automobilia. More at Sports Car Digest.

+   According to a new study by ABI Research, global electric vehicle sales will increase by five times to $58 billion annually in 2021, spurred by strong demand in China. More at Autoblog.

Review the previous Executive Briefing from May 20 here.

Photo courtesy of Auctions America. 

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