Originally owned by NASCAR legend Bud Moore and one of only three built, this 1970 Torino King Cobra will be one of the feature attractions at the Mecum Auctions Kissimmee Sale in January. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ General Motors is adding more than 1,200 jobs and a second shift at the Detroit-Hamtramck Assembly plant, production home for the Chevrolet Volt and Cadillac CT6. More at WXYZ Detroit.
+ On the second proposal, United Auto Workers members overwhelmingly approved a new four-year collective bargaining agreement with Fiat Chrysler Automobiles. More at Industry Week.
+ The United Auto Workers will now focus negotiations on General Motors after a solid majority of workers ratified a contract with Fiat Chrysler Automobiles. More at The Detroit News.
+ Sebastian Vettel and Kimi Raikkonen will take 10-place grid penalties for the U.S. Grand Prix in Texas after their Ferrari Formula 1 team chose to introduce an updated power unit. More at Racer.
+ Volkswagen is investigating the possibility that more vehicles using variants of the EA 288 engine contain software capable of cheating diesel emissions tests. More at Reuters.
+ Daimler AG said it is on course for strong earnings growth this year after reporting robust sales of its Mercedes-Benz cars in the third quarter. More at The Wall Street Journal.
+ GM as has tapped LG Electronics to supply batteries and other key components for the Chevrolet Bolt electric vehicle built at the Lake Orion, Michigan plant, More at Automotive Business Review.
+ Mini has unveiled its third-generation convertible model, which is slated to arrive in dealers in time for the start of the 2016 convertible season. More at Autoblog.
+ A 1970 Ford Torino King Cobra, designed for NASCAR but never raced in competition, will be among the featured entries at the Mecum Kissimmee auction in January. More at Hemmings Daily.
+ NASCAR will limit the finish of this weekend’s Talladega to a single green-white-checker, reduced from the usual three in the interest of safety. More at Motorsport.com.
Read the previous Executive Briefing from October 19 here.
Photo courtesy of Mecum Auctions.
Possibly not available at press time, but the former American Motors headquarters was sold at auction for 500 bucks.
http://www.freep.com/story/money/business/michigan/2015/10/22/old-american-motors-site-sells-auction-500/74399014/
Yes, I was over there the other day looking and taking photos. Building has been stripped and property has been turned into a dump for waste building and paving materials. Buyer paid $500 + $160,000 in current taxes but in fact, property is worth considerably less than zero, a liability. When he sees what he bought, he will probably walk away. That is a typical outcome. These properties often go through multiple foreclosure sales.
Never been a huge muscle car guy but the King Cobra has always intrigued me. Not sure I can afford it but it’s nice to have the opportunity to dream.