MCG Executive Briefing for October 31, 2016

mustang-gttDescribed as “half Mustang, half Ford GT” in its visual theme, the 800-hp Mustang GTT from Zero to 60 Designs will debut at the SEMA performance trade show in Las Vegas this week. Get all the latest auto industry news in the Executive Briefing. 



Today’s headlines:

+   New car retailer AutoNation will launch a $500 million, multi-year expansion to include stand-alone used car operations competing against CarMax in 25 markets. More at Fortune. 

+   Tata Sons accused former chairman Cyrus Mistry of making “unsubstantiated claims and malicious allegations” against the Indian conglomerate in a bitter public feud over his firing last week. More at Reuters. 

+   The self-driving car project started by celebrated hacker George Hotz, who promised a working product within a year, has been canceled after government safety authorities expressed their misgivings. More at The Verge.  

+   Renault driver Kevin Magnussen has reportedly received a firm two-year deal to drive for the Haas Formula 1 team starting next year, apparently replacing Esteban Gutierrez. More at 

+   Renault Vice President Mouna Sepehri says consolidation in the auto industry will continue with deals like partner Nissan’s recent $2.3 billion investment in Mitsubishi. More at 

+   Net income at aluminum wheel maker Superior Industries rose 21 percent in the third quarter as a $1.1 million income tax benefit offset a slight decline in sales revenue. More at Crain’s Detroit Business. 

+   In partnership with electric utility DTE Energy, General Motors has unveiled a 4.25-acre solar power array at its Warren, Michigan powertrain plant. More at The Detroit News. 

+   Hyundai and Kia have agreed to pay $41.2 million to settle state and federal complaints that alleged altered fuel economy ratings on a number of 2012 models. More at Carscoops. 

The world’s largest historic Ford car museum, the Den Hartogh in the Netherlands, will close in the next month, and the entire collection could be sold off in a single lot. More at Hemmings Daily. 

+   Specialty car introductions at this week’s SEMA performance industry trade show will include the Mustang GTT from Zero to 60 Designs, which sports a Procharger-enabled 800 hp V8. More at Motor Trend.  

+   A motorist exiting the racetrack struck multiple pedestrians following Sunday’s NASCAR race at Martinsville Speedway, injuring ”at least 10 people,” spokesmen said. More at USA Today. 

Review the previous Executive Briefing from October 28 here.

Illustration by Zero to 60 Designs. 

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