One of three still in existence, this 1933 Pierce Silver Arrow is expected to bring up to $3 million at the RM Sotheby’s Driven by Distraction auction on Dec. 10 in New York City. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ General Motors reportedly is firming up plans to import its Envision compact crossover to the United States from an assembly plant in Shandong, China. More at USA Today.
+ Ford’s tentative agreement with the United Auto Workers includes a $9 billion investment in its U.S. plants and a commitment to create or retain 8,500 jobs over the next four years. More at the Detroit Free Press.
+ Former Volkswagen Chief Executive Martin Winterkorn has stepped down as chairman of the automaker’s Audi luxury brand as the diesel emissions cheating scandal deepens. More at Reuters.
+ The future of the U.S. Grand Prix at Circuit of the Americas was thrown into doubt as the state of Texas cut its subsidy 20 percent to around $19.5 million. More at KXAN Austin.
+ Skilled trades members in the United Auto Workers unit at General Motors are holding up ratification of a new three-year contract with the automaker. More at The Detroit News.
+ David Leitch of Ford Motor Co. has been appointed to serve as general counsel at Bank of America to replace Gary Lynch, who moved up to vice chairman. More at Bloomberg.
+ Karma Automotive, formerly Fisker, will use BMW engines and drivetrain components in its vehicles moving forward, replacing GM. More at Autoblog.
+ Toyota is planning to produce its RAV4 compact SUV at its Cambridge North Assembly plant in Ontario, Canada starting in 2019. More at Automotive Business Review.
+ Featured attractions at the RM Sotheby’s Driven to Distraction sale in New York on December 10 will include a 1933 Pierce Silver Arrow originally shown at the Chicago World’s Fair. More at Hemmings Daily.
+ IndyCar chief revenue officer Jaye Frye has been promoted to president of competition, replacing the departed Derrick Walker. More at the Indianapolis Star.
Read the previous Executive Briefing from November 9 here.
Photo by Darin Schnabel courtesy of RM Sotheby’s.
Children are going to school hungry while the Texas government lines Bernie’s pockets with more millions. It’s a sick world.
That Pierce Arrow was for sure ahead of it’s time. A beautiful design with the exception of the goofy rear window.
Too bad we can’t have designs and designers like that now. Now, every egg shape looks like a bellybutton copy…