For 2022, broadcast television coverage of Mecum Auction events will be moving to the Motor Trend network. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Collecting lavish praise from the automotive media, Chevrolet this week introduced the 2023 Corvette Z06, which features a four-cam, flat-crank V8 that makes 670 horsepower. More at The Drive.
+ Tesla’s share price soared as Hertz announced that it was ordering 100,000 Model 3 sedans for its rental car fleet, sending the EV maker’s market cap over the $1 trillion mark. More at Bloomberg.com.
+ The continuing microchip shortage forced Stellantis to reduce production by 27 percent in the third quarter, cutting net revenues by 14 percent to $37.8 billion. More at the Detroit Free Press.
+ IndyCar megateam owner Michael Andretti has abandoned his plans to purchase the Sauber Formula 1 operation, which currently campaigns under the Alfa Romeo banner. More at Racer.
+ After eight years, McLaren Automotive has parted company with CEO Mike Flewett, who vowed that the exotic sports car manufacturer would never produce an SUV. More at Car and Driver.
+ Ford announced a third-quarter profit of $1.8 billion, a 25 percent decline from the same period last year, but will reinstate a regular dividend starting next quarter. More at The Detroit News.
+ As promised by Toyota this past summer, the 2022 GR86 sports car will have a base price of under $30,000, with the basic manual transmission model listing at $28,275. More at Autoblog.
+ For 2022, television coverage of Mecum Auctions’ collector car sales will be moving from the NBC Sports Network to Motor Trend TV, which will air 160 hours of live programming. More at Old Cars.
+ Volkswagen CEO Herbert Diess says the acknowledged leader in electric vehicle technology and production is Tesla, which is now completing a new gigafactory near Berlin. More at CNBC.
+ Retired NASCAR stars Tony Stewart, Clint Bowyer, and Dale Earnhardt Jr. tested the 2022 Next-gen Cup car at Bowman-Gray Stadium, with all three drivers praising the new racer. More at Speed Sport.
Photo courtesy and copyright Mecum Auctions.
Review the previous Executive Briefing from October 25 here.
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