This very early production 1965 Mustang Shelby GT350, serial number 018, sold for $410,000 at the Mecum Auctions Dallas sale. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Toyota has agreed to pay more than $3 billion to compensate owners of Tacoma, Tundra and Sequoia trucks with frames that are likely to rust through. More at The Detroit News.
+ Ferrari CEO Sergio Marchionne says the brand plans to be 100 percent hybrids by 2019, and has targeted a production volume of 10,000 cars per year. More at Australia Motor.
+ Bentham Europe plans to fund a potential $110 billion damages claim against Europe’s biggest truck makers after they admitted to operating a 14-year price cartel. More at Reuters.
+ Monster Energy Drink reportedly will replace Sprint as title sponsor of NASCAR’s premier racing series in 2017, though an official announcement has yet to be made. More at Motorsport.com.
+ Audi cars with automatic transmissions have technology capable of distorting emissions during testing, Volkswagen Group reported. More at Automotive News Europe.
+ The Alliance of Automobile Manufacturers, a trade group representing the major automakers, is lobbying the Trump presidential transition team for relaxed CAFE fuel economy standards. More at CNBC.
+ Clarence Ditlow, director of the Center for Auto Safety and one America’s leading auto safety advocates, has died after a long battle with colon cancer. More at USA Today.
+ An early production 1965 Mustang Shelby GT350 once owned by New York Yankees star Reggie Jackson sold for $410,000 at the Mecum Dallas auction. More at Hemmings Daily.
+ In advance of the Los Angeles Auto Show, Ford will announce the North American debut of the EcoSport compact utility vehicle, already popular in China and Europe. More at Automobile.
+ International Speedway Corporation, the parent company of Phoenix International Raceway, has approved a two-year track renovation said to be worth $150 million to $200 million. More at Racer.
Review the previous Executive Briefing from November 11 here.
Photo courtesy of Mecum Auctions.
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Regarding the Alliance of Automobil Manufacturers lobbying effort:
“A major auto trade group on Thursday urged President-elect Donald Trump’s transition team to revise fuel efficiency mandates that could cost them billions of dollars …”
Only costs you billions of dollars when you try to cheat emissions, you jackasses. But luckily for you, we’ve elected someone who doesn’t believe in ‘air pollution’ and other liberal nonsense.
“… and called for a full-scale review of the Obama administration’s autonomous vehicle policies.”
No detail given in article … I don’t even know what the previous policies were, so I’m not sure what direction they’re asking for.
As I understand it, basically they are seeking a rollback of current and scheduled CAFE fuel economy and emissions standards. That’s unfortunate, in my view. The standards are do-able and in reach. It appears they are only attempting to increase profits.