This 1969 Mustang Trans-Am racer, driven by such legends as Dan Gurney and Peter Revson, is expected to bring up to $1.3 million at the RM Sotheby’s Monterey auction in August. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Fiat Chrysler Automobiles chief executive Sergio Marchionne reports the company’s next-generation Ram pickup truck will go on sale by January 2018. More at Business Insider.
+ The $10 billion London hedge fund TCI has increased its pressure on Volkswagen following the Dieselgate emissions scandal, demanding the automaker overhaul its executive compensation plan. More at Reuters.
+ Detroit-based American Axle & Manufacturing reported net income of $61.1 million in the first quarter of 2016, an increase of 15 percent over the same period last year. More at The Detroit News.
+ Toyota Australia is teasing photos of a hand-built shooting brake version of the Toyota 86 rear-drive sports coupe, but reportedly there are no plans for production. More at Motor Trend.
+ Teresa Earnhardt, widow of Dale Earnhardt Sr., has gone to court to block her stepson Kerry Earnhardt from using the Earnhardt name in his real estate business. More at ESPN.
+ Cadillac reports that global sales have slipped 18 percent in the first four months of 2016 as the GM luxury division brings two new models to market, the CT6 sedan and the XT5 crossover. More at the Detroit Free Press.
+ Team Detroit, the Dearborn-based firm that handles Ford Motor Co.’s advertising, has been renamed GTB and combined with two other divisions of parent firm WPP, Blue Hive and Retail First. More at Advertising Age.
+ Honda Manufacturing of Alabama (HMA) has begun volume production of the new 2017 Ridgeline pickup truck at its Lincoln, Alabama plant. More at Automotive Business Review.
+ Six noteworthy vintage Ford race cars from the Jim Click collection will be by offered by RM Sotheby’s at its annual Monterey, California, auction in August. More at Classic Cars.com.
+ Indianapolis Motor Speedway officials have confirmed that all reserved seating is sold out for the 100th Indianapolis 500 on May 29, the first sellout in decades. More at The Indianapolis Star.
Review the previous Executive Briefing from May 6 here.
Photo courtesy of RM Sotheby’s.
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