MCG Executive Briefing for May 9, 2014

Ferrari 275 GTB Steve McQueenThis famed 1967 Ferrari 275 GTB/4 sold new to Steve McQueen will headline the 2014 RM Auctions Monterey sale August 15-16. Get all the latest auto industry news in the Executive Briefing. -RM Auctions photo

 

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+   Toyota has reported record annual profits and sales of more than 10 million vehicles in 2013, but is forecasting a slower year ahead. More at The Detroit News.

+   The proposed $35 billion merger of two ad agency giants, U.S.-based Omnicom and French rival Publicis, has been called off. More at CNBC. 

+   General Motors, Ford, and Toyota have partnered with the University of Michigan in Ann Arbor to build a cityscape for the testing of driverless cars. More at Crain’s Detroit Business

+   Ford Motor Co. plans to spend $1.8 billion as part of a plan to buy back 116 million shares of the company’s stock. More at The Detroit Bureau.

+  The Mercedes Formula One team will test a louder exhaust system in a two-day session in Barcelona following the Spanish Grand Prix. More at Yahoo! Sport UK.

+   The headquarters of the newly merged Fiat Chrysler Automobiles (FCA) will be moved to London, says CEO Sergio Marchionne. More at Reuters.

+   General Motors has brought back retired vice president of communications Steve Harris as a consultant on the ignition switch recall. More at the Detroit Free Press.

+   Talks between the British Racing Drivers’ Club and potential investors have broken down as a new owner is sought for the Silverstone racing circuit. More at Racer.

+   A 1967 Ferrari 275 GTB/4 delivered new to Steve McQueen is among the attractions at the 2014 RM Auctions Monterey sale in August. More at Sports Car Digest

+   Jim Federico, the just-retired GM engineer linked to the company’s ignition switch troubles, has taken a post at Harley Davidson. More at the Milwaukee Journal-Sentinel.  

For the previous Executive Briefing from May 5, click here.

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