The 1964 Aston Martin DB5 purchased new by Sir Paul McCartney will be auctioned by Bonhams in London, where it is expected to bring $1.6 million to $2 million. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ In Los Angeles, Tesla CEO Elon Musk unveiled the company’s new battery-powered big rig, dubbed the Tesla Semi, which boasts a range of 500 miles. More at Reuters.
+ New car sales in Europe rose 5.9 percent in October, with Renault, Toyota, and Volkswagen Group’s Seat brand leading the gains among volume automakers. More at Automotive News Europe.
+ Volkswagen Group will spend $11.8 billion by 2025 to develop 15 new electric and hybrid vehicles to comply with increasingly stiff emissions regulations in China. More at CNBC.
+ Matt Simoncini, president and CEO of Michigan-based seating supplier Lear Corporation, will retire in February, to be replaced by vice president Ray Scott. More at the Detroit Free Press.
+ Toro Rosso confirmed it will retain the current driver line-up of 2016 GP2 champion Pierre Gasly and New Zealander Brendon Hartley for the 2018 Formula 1 season. More at Racer.
+ A 1964 Aston Martin DB5 owned when new by Sir Paul McCartney will be auctioned by Bonhams in London on December 2, where it could bring $1.6 million to $2 million. More at The Drive.
+ Ford Motor Company announced it will appoint John Veihmeyer, former CEO and chairman of auditing firm KPMG International, to its board of directors. More at The Detroit News.
+ General Motors will auction off the first 2018 Corvette Carbon 65 to benefit the George W. Bush Presidential Center’s Military Service Initiative, a veteran’s support group. More at Motor Trend.
+ NASCAR star Dale Earnhardt Jr. will conclude his driving career at Homestead Miami this weekend with 26 career Cup victories and two Daytona 500 wins. More at Jayski.
+ Top sales at the Bonnhams Bothwell Collection sale included the ex-Barney Oldfiend Prinz-Heinrich Benz at $1.87 million and a 1913 Peugeot Grand Prix at $7.26 million. More at Hemmings Daily.
Review the previous Executive Briefing from November 13 here.
Photo courtesy of Bonhams.
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Oh, oh, Sir Paul, down to your last million, either another concert tour, or the DB5 goes.
Sorry, Paul. You’re famous ‘n all, but it’s not you I think of when I see this car. George had a 1965 DB5 in this color, which sold for $549,000 in 2011. Apparently Ringo didn’t want to emulate a womanizer.
Paul’s DB5 was originally dark Sierra Blue. He sold it in 1970 and it’s had at least three owners since he gave it up. As originally equipped, it contained a Phillips Auto-Mignon record player. I doubt it’s still there.
Got to give Elon Musk kudos for his Sci Fi thinking, but I think it will be YEARS before there is an electric truck capable of doing what we do now with diesel power. Charging stations, battery weight, and gosh awful stying have all got to be overcome before you see his version electric truck out on the highways. Even then it would probably be limited to major interstate routes, I don’t see a massive charging station being built out in Podunk MS or Resume speed, AZ. And if it is priced like his autos, it could well be over $500,000 per truck to start out with, about 5 times as expensive as the typical fleet truck is priced now. The return on investment would have to be a lot to recoup it, and I don’t see it happening anytime soon. And for sure, don’t count on owner operators to be the guinea pigs, we don’t have the capitol to invest like the mega fleets do. We like our trucks to look like trucks, not space ships!