MCG Executive Briefing for November 26, 2018

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This 1958 BMW 507 roadster once owned by famed BMW and Datsun designer Count Albrecht Graf von Goertz will be offered at the Bonhams Bond St. Auction. Get all the latest auto industry news in the Executive Briefing. 

 

 

Today’s Headlines: 

+   Canadian news outlets report that General Motors is set to close its Oshawa, Ontario plant near Toronto after December of 2019, a move that would end 3,000 jobs. More at Global News.   +   UPDATE: General Motors announced plans to halt production at five North American plants, affecting 6,300 hourly workers. More at The Detroit News. 

+   Analysts at Edmunds are predicting a 1.3 percent dip in new-car sales for November compared to the same month in 2017, the first decrease since 2009. More at Edmunds. 

+   This week’s Los Angeles Auto Show will feature high-visibility product and concept introductions from Jeep, Hyundai, Mercedes-Benz, Volkswagen, and others. More at Automotive News Europe.

+   Renault-Nissan executives will meet this week to address a looming power struggle generated by the arrest of alliance chief Carlos Ghosn for alleged misconduct. More at Reuters. 

+   NASCAR Xfinity series standout Christopher Bell topped Kyle Larson to win the Turkey Night Grand Prix midget race at Ventura Raceway in California. More at NBC Sports. 

+   Tesla lowered the prices of the Model S and Model X in China, seeking to boost sales as the trade war with the U.S. hit demand in the world’s biggest car market. More at The Detroit News. 

+   Aston Martin CEO Andy Palmer believes that despite near-future challenges, the British automaker can double its sales by 2025 due to an increasingly wealthy upper class. More at The Drive. .

+   As CEO Joseph Perkins assembles a new management team, Southfield-based Busche Performance Group is ramping up to hit $550 million in revenue in 2021. More at Crain’s Detroit Business.  
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+   The U.S. government is investigating more than 100 complaints of poor brake performance on 2.7 million General Motors big pickups and SUVs. More at the Detroit Free Press. 
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+   A 1958 BMW 507 once owned by Count Albrecht Graf von Goertz will be offered at the Bonhams Bond St. sale on Dec. 1, where it is expected to bring up to $2.8 million. More at Autoblog. 

+   Pirelli will continue as the sole tire supplier to the Formula 1 series, having won the tender to supply the championship for the 2020 through 2023 seasons. More at Motorsport.com. 

Review the previous Executive Briefing from November 23 here. 

Photo courtesy of Bonhams. 

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