MCG Executive Briefing for November 2, 2015

WintonTop sellers at the annual Bonham’s London to Brighton auction included this 1904 Winton 20 HP Two-Cylinder Detachable Rear-Entrance Tonneau, which hammered down for $200,000. Get all the latest auto industry news in the Executive Briefing. 


Today’s headlines:

+   According to a court deposition, Johnson Controls CEO Alex Molinaroli allegedly bankrolled the jet-setting lifestyle of now-convicted Ponzi schemer Joseph Zada. More at the Milwaukee Journal-Sentinel. 

+   Researchers at the University of Cambridge in England have announced the creation of a lithium-oxygen battery with up to 10 times the energy density of current lithium-ion batteries, but with “many hurdles ahead.” More at Automotive News Europe. 

+   American Axle & Manufacturing reports that net income rose more than 38 percent to $60.9 million in the third quarter compared to the same period a year ago. More at The Detroit News. 

+   CEO Sergio Marchionne says Fiat Chrysler will scale back its sales targets for Alfa Romeo and Maserati in China due to changing import policies and market conditions. More at the Detroit Free Press. 

+   Porsche sealed the World Endurance Championship constructor title at the Shanghai Six Hours with a race victory by Mark Webber, Brendon Hartley, and Timo Bernhard. More at the UK Guardian. 

+   German Chancellor Angela Merkel says the “Made In Germany” brand has not been damaged, but Volkswagen must act in a transparent manner in resolving the diesel emissions scandal. More at Business Insider. 

+   Fiat Chrysler Automobiles is recalling nearly 900,000 Jeep Liberty and Grand Cherokee models around the world to correct defects in airbag and anti-lock braking systems. More at Reuters. 

+   Buick is teasing a silhouette image of the next-generation 2017 LaCrosse sedan in advance of the Los Angeles Auto Show later this month. More at Autoblog. 

+   The annual Bonhams’ London to Brighton auction of pre-1905 automobiles generated $2.3 million in sales, led by a 1904 Napier Model D45 that sold for $500,600. More at Classic Car News.

+   In response to pleas to reduce engine fees, Mercedes Formula One managing director Toto Wolff says Mercedes already loses a “substantial” amount of money on customer engine supply deals. More at Racer. 

Read the previous Executive Briefing from October 30 here. 

Photo courtesy of Bonham’s. 

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One thought on “MCG Executive Briefing for November 2, 2015

  1. More bad news from VW this afternoon, now V-6’s are affected too. I’m beginning to wonder if the company can survive.

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