MCG Executive Briefing for October 24, 2016

1969-ferrari-365-gtThis 1969 Ferrari 365 GT that has never left Italy will be among the featured offerings at the RM Sotheby’s Duemila Route sale at the Milano AutoClassica weekend on November 25-27. Get all the latest automotive news in the Executive Briefing. 



Today’s headlines:

+   U.S. auto sales are expected to drop more than 7 percent in October from the same period in 2015, the sixth monthly decline so far this year, J.D. Power and LMC Automotive reported. More at Reuters. 

+   Electric car maker Tesla Motors is formulating plans to enter the ride-hailing and ride-sharing business, perhaps as early as next year. More at the Detroit Free Press. 

+   The Piech and Porsche families, who together control more than 52 percent of Volkswagen Group, have vowed to unite behind senior management, setting aside past disputes. More at Automotive News Europe. 

+   Americans consumed 9.4 million barrels of gasoline per day in September, a 1.1 percent increase over the same period last year and a new record. More at Autoblog. 

+   Driver Valtteri Bottas of Finland will remain with the Williams Formula 1 team in 2017, partnered with current European F3 champion Lawrence Stroll. More at Yahoo! Sport.

+   Daimler’s third-quarter operating profit rose 23 percent in line with company forecasts, as higher earnings from passenger cars offset falling demand for trucks. More at CNBC. 

+   Baby boomers are aging out of the traditional sports car market, according to a study by CarLab, with Corvette sales down 14 percent while sales of luxury crossovers are climbing. More at Carscoops. 

+   Nissan Motor Co., the U.K.’s top auto producer, will decide next month whether to continue producing the high-volume Qashqai SUV there as the country prepares to leave the European Union. More at 

+   Audi will buy back 25,000 older model vehicles in the United States equipped with the 3.0-liter TDI V6 that cannot meet emissions standards, the German news magazine Der Spiegel reported. More at Motor Trend. 

+   RM Sotheby’s will present ‘Duemila Ruote’ (2000 Wheels), an auction of 750 automobiles and motorized collectibles, coinciding with the Milano AutoClassica in Milan, Italy. More at Sports Car Digest.

+   Veteran NASCAR driver Casey Mears has no deal for next year with his current team Germain Racing, and rumors are his seat could go to Ty Dillon. More at 

Review the previous Executive Briefing from October 21 here.

Photo courtesy of RM Sotheby’s. 

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