This 1956 Ferrari 250 GT alloy coupe by Boano will be among the attractions at the 2021 RM Sotheby’s Arizona Auction on January 22. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ The U.S. units of Hyundai and Kia agreed to a record $210 million civil penalty for allegedly failing to recall 1.6 million vehicles for potential engine defects in a timely manner. More at Reuters.
+ Volkswagen’s new ID.3 hatchback climbed to the top of Europe’s electric-car sales charts in October, narrowly beating the Renault Zoe and trouncing the Tesla Model 3. More at The Detroit News.
+ According to AutoinsuranceEZ.com, West Coast cities lead the nation in auto thefts, with Portland, San Jose, Seattle, Salt Lake City, and San Francisco ranked in the top five. More at Autoblog.
+ Haas Formula 1 driver Romain Grosjean escaped serious injury in a massive accident on the opening lap of the Bahrain Grand Prix, which severed his car into two pieces. More at Sky Sports.
+ YouTube personality Cleetus McFarland is accused of covering up severe injuries suffered by a 23 year-old participant at his “Cleetus and Cars” event in Bradenton, Florida. More at The Drive.
+ Auto financing experts are forecasting that vehicle loan repossessions are almost certain to rise in 2021 as the COVID-19 pandemic continues and the recession drags on. More at Car and Driver.
+ Noteworthy consignments to the RM Sotheby’s Arizona Auction on January 22 include a 2003 Ferrari Enzo, a 1938 SS100 Jaguar roadster, and a 1932 Cadillac V-16. More at Sports Car Digest.
+ In an effort to keep the COVID-19 pandemic from again disrupting its operations, Ford has ordered ultra-cold freezers to store vaccines to administer to employees. More at USA Today.
+ An automotive editor in Los Angeles captured iPhone photos of a prototype 2022 BMW 2 Series Coupe cloaked in vinyl camouflage wrap and sporting rear-wheel drive. More at CNET Roadshow.
+ IndyCar driver Santino Ferrucci says he is pursuing opportunities in several NASCAR events in 2021 while continuing to compete the full season for Dale Coyne Racing. More at Jayski.
Photo by Darrin Schnabel courtesy and copyright RM Sotheby’s.
Review the previous Executive Briefing from November 27 here.
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$210 is a large fine, but is it a deterrent to a company that grosses $150 billion a year?
With a new administration coming in Jan with promises to reinstate crippling regulations, you can bank on repossessions being much higher. Lots of people suffering financially already, going back to some of those regulations will surely slow or stop a lot of commerce. Will be a buyers market, if anybody has any money left to spend….