At $728,250, this early 1963 Shelby Cobra 260 was among the top 10 sellers at the inaugural Bonham Audrain Concours auction in Rhode Island. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ General Motors chairwoman and CEO Mary Barra told investors the automaker plans to double its revenue by 2030, increasing its business in both ICE and electric vehicles. More at Reuters.
+ Stellantis NV announced a $229 million investment plan to retool its three Kokomo, Indiana, plants to manufacture the next generation of electrified transmissions. More at The Detroit News.
+ Mazda announced that it will add three new SUVs to its lineup by 2023: the CX-50, a two-row CX-70, and a three-row CX-90, with the latter two powered by inline sixes. More at Car and Driver.
+ Trackhouse Racing, which recently purchased the NASCAR facility of Chip Ganassi Racing in Concord, North Carolina, says it plans to hire many former CGR employees. More at Jayski.
+ Spy photographers have captured images of a new addition to the limited-production Ferrari Icona series, a V12 mid-engine coupe that is said to be inspired by the 330 P4. More at Autoblog.
+ The share price of Lordstown Motors tumbled after Morgan Stanley downgraded the stock of the troubled electric truck maker and dropped its price target from $8 to $2. More at The Street.
+ Cadillac has restyled its historic crest emblem into a simple monochromatic badge for its Lyriq crossover, but the internal combustion models will retain the color logo for now. More at The Drive.
+ The inaugural Bonham’s Audrain Concours Auction in Newport, Rhode Island reported a sell-through rate of 83 percent on 41 vehicle lots with total sales of $9,262,800. More at ClassicCars.com Journal.
+ Two-time world champion Fernando Alonso, who currently drives for the Alpine Formula 1 team, charged that drivers are not treated equally by series officials. More at BBC Sport.
+ The Geneva Motor Show, originally set to return in March 2022 after a two-year hiatus due to the COVID-19 pandemic, has been canceled again, organizers say. More at Road & Track.
Photo courtesy of Bonhams.
Review the previous Executive Briefing from October 4 here.
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