MCG Executive Briefing for October 31, 2014

Pontiac BonnevilleThis 1954 Pontiac Bonneville Motorama dream car, which last changed hands in 2006 for $3.08 million, will be among the headliners at the 2015 Barrett-Jackson Scottsdale auction. Get all the latest car biz news in the Executive Briefing.  -Barrett-Jackson photo     



Today’s headlines: 

+   The National Highway Traffic Safety Administration has ordered the Takata Corp. to turn over documents related to defective airbags that forced the recall of 7.4 million vehicles. More at NBC News.

+   General Motors will invest $540 million in plants in Southeast Michigan, enabling the automaker to move production of the drive unit for the Chevy Volt from Mexico to Warren, Michigan. More at the Detroit Free Press.

+   Fiat Chrysler Automobiles announced it will spin off its Ferrari luxury sports car brand, selling 10 percent of the shares in a public offering and distributing the rest to FCA shareholders. More at ABC News. 

+   Ford Motor Company will unveil its new sixth-generation Explorer midsize SUV at the Los Angeles Auto Show next month. More at The Detroit News.  

+   The IndyCar series has announced its 17-race schedule for 2015, which begins in March and concludes August 30 to avoid competition with the National Football League. More at Fox Sports. 

+   Volkswagen AG reported earnings of $4.1 billion in 3Q 2014, a increase of 16 percent, attributed to strong demand for the Audi and Skoda brands. More at

+   Former American LeMans owner/driver Jon Field has been sentenced to five months and seven days in prison for federal tax fraud. More at Racer. 

+   The historic but financially troubled Nürburgring road circuit in Germany has been sold again, this time to Russian billionaire oligarch Victor Kharitonin. More at 

+   A 1954 Motorama dream car from the Ron Pratte collection, the Pontiac Bonneville Special, will be one of the featured attractions at the Barrett-Jackson Scottsdale auction in January. More at Hemmings Daily.

+   Third-quarter earnings at Renault rose 6.7 percent to $10.9 billion, although total sales declined slightly to 613,000 vehicles. More at Reuters.

+   A.J. Foyt Racing will expand to two cars in 2015, adding a second IndyCar entry for driver Jack Hawksworth alongside team veteran Takuma Sato. More at USA Today.

For the previous Executive Briefing from October 27, click here. 

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