The 12th annual RM Auctions Hershey sale was dominated by American classics like this 1930 Cadillac V16 roadster, which brought $495,000. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines:

+   Auto sales in China recorded their biggest drop in seven years in September, sliding 11.6 percent to 2.39 million units, the third straight monthly decline. More at Automotive News Europe. 

+   Sources say Jaguar will replace the current two-seat F-Type with a front-engine 2+2 coupe powered by a BMW 4.4-liter twin-turbo V-8 with 600 horsepower or more. More at Motor Trend. 

+   Ford chairman Bill Ford cancelled his visit to the Future Investment Initiative conference in Riyadh, Saudi Arabia following the disappearance of journalist Jamal Khashoggi. More at Reuters. 

+   A GoFundMe campaign to fund a medical return flight for customizing pioneer Gene Winfield, who broke his hip on a visit to Finland, has raised $98,000. More at Road & Track. 

+   The Formula 1 race schedule for 2019, along with a number of technical and sporting rules changes, have been formally approved by the FIA’s World Motor Sport Council. More at Motorsport.com. 

+   A study by iseecars.com has identified the top 10 and bottom 10 used cars in price depreciation, with the Jeep Wrangler, Toyota Tacoma, and Toyota Tundra ranked best. More at The Drive. 

+   The United Auto Workers’ retiree health care trust has lost its seat on on the General Motors board of directors after selling 40 million shares in the automaker. More at The Detroit News. 

+   Mick Schumacher, the 19 year-old son of seven-time Formula 1 champion Michael Schumacher, has sewn up the 2018 Formula 3 world title with one race remaining. More at BBC Sport. 

+   Porsche engineers have made it known that the next-generation 992-series 911 cars due in 2020 will retain the current wheelbase but will be all widebody models. More at Autoblog.  

+   Dominated by high-end American classics, RM Auctions’ 12th annual Hershey auction featured nearly $11 million in sales and a 94 percent sell-through rate. More at Classic Cars.com Journal.

+   The next-generation Mercedes-Benz S-class scheduled for introduction in 2020 will feature Level 3 autonomous driving capability, an upgrade from the current Level 2. More at Automobile. 

+   The IndyCar Series will test at the Indianapolis Motor Speedway this week to fine tune its 2019 aero package while Firestone develops its tire specification for next year’s Indy 500. More at Racer. 

Review the previous Executive Briefing from October 12 here. 

Photo by Darin Schnabel copyright and courtesy of RM Sotheby’s. 

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