An Alabama collector is selling off an assortment of 1,300 vintage cars from the exotic to the mundane. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Porsche has confirmed that Michael Leiters, former head at McLaren, will become CEO effective January 1, while Oliver Blume will remain chief of the Volkswagen Group. More at Yahoo! Finance.
+ Toyota is spinning off the Century nameplate as a new standalone luxury brand to be positioned above Lexus in global markets, presumably including the United States. More at Carscoops.
+ Ford is recalling another 625,000 vehicles in the U.S. due to seatbelt and rear-view camera defects, the National Highway Traffic Safety Administration (NHTSA) announced. More at World Auto Forum.
+ As ESPN departs, Apple and Formula 1 have signed a five-year agreement that secures exclusive U.S. broadcasting rights for Formula 1 to Apple TV starting next year. More at TechCrunch.
+ A fatality involving a Xiaomi Corp. SU7 electric sedan has renewed scrutiny of flush car door handles and is likely to reinforce China’s push for tougher safety standards. More at The Detroit News.
+ According to the Manheim Index, wholesale used vehicle prices in the U.S. fell 3.4 percent in the first half of October, with mid-sized cars and SUVs showing the steepest decline. More at CBT News.
+ Some Jeep Wrangler 4xe owners are still awaiting answers from Stellantis a week after a bug in an over-the-air (OTA) software update rendered their vehicles inoperable. More at The Drive.
+ Top proxy advisor Institutional Shareholder Services is recommending that Tesla shareholders vote against giving CEO Elon Musk a nearly $1 trillion compensation package. More at CNBC.
+ Alabama businessman and car collector Greg Rusk is selling off at no reserve a group of around 1,300 vintage cars he purchased mainly to help out local people in need. More at Car and Driver.
+ With Chase Briscoe’s win at Talladega this weekend, Joe Gibbs Racing drivers Briscoe and Denny Hamlin are now locked into the NASCAR Cup championship final four. More at USA Today.
Photo courtesy of Hagerty.
Review the previous MCG Executive Briefing from October 17 here.
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All NHTSA automotive safety-related defect recalls are ultimately political decisions, while investigations, testing, data analysis and findings must be up to highest scientific, ethical and legal standards possible. That fact was made crystal clear to me on my first day as an ODI contractor @ VRTC.
From personal experience, Ford, other mfgs and suppliers like Takata & Bendix seemed to think seat belts, buckles and retractors are wear items to be inspected and serviced as part of regular maintanence like brake linings and cabin filters believe it or not. I vehemently disagreed and still do, occupant restraints should have a 4X safety factor, similar to steam locomotive boiler standards of yore (5X in New Jersey).
According to Fox News, Ford said it has more than doubled its team of safety and technical experts in the past two years. I bet they have…
In sanctioned racing, safety equipment such as helmets and seat belts are considered wear items and have expiry dates. Why shouldn’t automotive manufacturers and suppliers adhere to similar standards?
It varies by sanctioning body, but I believe that most regs for safety equipment call for replacements call for replacements by 6-8 years after the date tag. With cars now lasting 20 years or more, how long should the manufacturer be on the hook for fully-paid replacement? Many consumers would balk at picking up any of the cost.
Air bags are expensive enough that some cars with minor damage are totalled if they deploy. Insurance companies could require replacement of belts after 10 years but it would be difficult to enforce. Safety inspections vary by state and some do not require it on older cars.
I’m in favor of less government involvement. They generally add so many footnotes and pork that the original intent is overrun.
Restraints for highway use should be designed to safely last longer than the vehicle, end of story. 4X longer when asked my opinion.
This stuff isn’t for the SCCA run offs or NHRA Top Fuel, this is your mother or daughter commuting to work in her cute little pink Mustang everyday…