MCG Executive Briefing for September 4, 2017

Contemporary supercars topped the sales charts at the Mecum Auctions Monterey Sale at the Hyatt Regency Monterey, led by this 2014 La Ferrari that sold for $3.45 million. Get all the latest auto industry news in the Executive Briefing.  



Today’s headlines:

+   U.S. new car sales were a mixed bag in August, with strong sales of pickups and SUVs partially offsetting the falling demand for hatchbacks and premium sedans. More at Motor Trend. 

+   Fiat Chrysler CEO Sergio Marchionne says there are no offers on the table to purchase any of the company’s car-making units, but supplier Magneti Marelli will be sold. More at 

+   At the Frankfurt Motor Show, Honda will unveil the Urban EV Concept, a vehicle intended to preview a new EV the automaker is targeting at the European market. More at Automotive News Europe. 

+   McLaren Executive Director Zak Brown says star driver Fernando Alonso is “very likely” to stay with the Formula 1 team if it switches from Honda to Renault power. More at 

+   German carmaker Opel, recently purchased from General Motors by France’s PSA Group, widened its losses in the second quarter to around $250 million. More at Reuters. 

+   Insiders say the Auctions America division of the RM Sotheby’s auction house could be merged with the parent firm and its future sales hosted under the RM Sotheby’s name. More at Collector 

+   Tommy Baldwin, who shut down his own NASCAR Monster Cup team late last season, has been appointed competition director and crew chief at Premium Motorsports. More at Jayski. 

+   Sources say the 2018 Jeep Wrangler JL will begin production at the Toledo plant in mid-November, starting with the four-door Unlimited V-6 hardtop model. More at Road & Track. 

+   The Mecum Monterey 2017 auction at the Hyatt Regency Monterey Hotel generated $34 million in total sales with a 51 percent sell-through rate. Full auction report at Sports Car Digest. 

+   Nine-time MotoGP champion Valentino Rossi underwent successful surgery on his right leg after suffering a broken tibia and fibula in a training crash. More at Roadracing 

Review the previous Executive Briefing from September 1 here. 

Photo courtesy of Mecum Auctions. 

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