This 1963 Ferrari Lusso brought $1.38 million at the Bonhams|Cars Zoute sale. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ In China, the share price of EV maker Nio fell 9 percent after Singapore’s sovereign wealth fund filed suit, charging that the company violated securities law by inflating its revenues. More at CNBC.
+ According to Kelley Blue Book, the average sale price of a new vehicle in September was $50,080, a 3.3 percent annual increase and the highest ever recorded in the USA. More at Car and Driver.
+ Global investors called on Toyota Motor to provide more disclosure about its planned buyout of group firm Toyota Industries, criticizing what they called “opaque” valuation. More at The Business Times.
+ Several days after a dangerous crash involving Ty Dillon and William Byron in the NASCAR Cup race at Las Vegas, Kaulig Racing fired Joe White, the spotter for Dillion. More at NBC Sports.
+ Ford Motor Co. is recalling nearly 60,000 Ford and Lincoln vehicles to repair a defect in the engine block heater that could potentially cause a short circuit and electrical fire. More at USA Today.
+ After jurors in Florida awarded $243 million in a wrongful-death judgement against Tesla in an Autopilot crash, the carmaker is now quietly reaching out-of-court settlements. More at Autoblog
+ Canadian Prime Minister Mark Carney says the future of the Stellantis plant in Brampton, Ontario depends on the final terms of the U.S.-Mexico-Canada Agreement. More at The Detroit News.
+ Ford has introduced an RTR package for the Mustang specially engineered for drifting that includes Dark Horse chassis and suspension upgrades and a drifting brake. More at The Drive.
+ The Bonhams|Cars Zoute Sale in Knokke-Heist, Belgium recorded more than $18.1 million in sales with an 87.5 percent sell-through rate, led by a selection of choice Ferraris. More at Old Cars.
+ IndyCar driver Rinus VeeKay of The Netherlands, most recently with Dale Coyne Racing, will be the new lead driver for Juncos Hollinger Racing in 2026, replacing Conor Daly. More at Racer.
Image courtesy of Bonhams|Cars.
Review the previous MCG Executive Briefing from October 13 here.
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Looks like 59,001 block heaters apparently recalled over a single allegation of a shorted smoking cord from corrosion, a crack and/or coolant leak (take your pick), no fire or crash. A full ten year production run, eh? How does a NHTSA recall happen during a government shutdown you ask? Good question, NHTSA all on furlough enjoying the good life no doubt, free time off with no loss in seniority, website down, win win! All back pay will be waiting (but all contractors must still report to work for priority internet surfing). As my civic duty I shall attempt to fill in the blanks. The authorized recall procedure prolly goes something like this:
1. Place vehicle near 120 volt outlet on any puddle of water.
2. Plug block heater into outlet, start engine.
9. Have an assistant floor accelerator.
4. Use mom’s sewing scissor/shears to cut block heater cord while standing in puddle and holding your service manager’s bare hand.
7. Continue running engine at wide open throttle until service engine soon light illuminates.
2. Install recall decal anywhere under hood, enter vehicle with screw driver in back pocket, start engine if possible then return to customer…
What are the automaker’s realistic options in pushing back against a potential recall?
In my experince as a contractor Senior Research Engineer and Progam Manager for ODI twenty years ago, a mfg’s safety office would;
1. Argue the facts until it’s position is no longer tenable.
2. Argue the law until that position is no longer tenable.
3. Offer a service bulletin, a sternly worded letter or an extended warranty.
4. Concede a regional mini-recall (slice & dice).
5. Tell ODI to F.O. then see what happens.
6. Conduct full scale recall of all subject components or join Heavy D in the clink with complimentary body cavity searches daily…
That’s the basic nuts and bolts of it but there’s also a bunch of gov’t ambulance chaser/chief council enforcement action and options behind the scenes out of my area of expertise…