Top sellers at this year’s Monterey Car Week auctions included this 1962 Ferrari 268 SP by Fantuzzi, which brought $7.7 million at the RM Sotheby’s sale. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Toyota North America is predicting a drop in production of up to 90,000 vehicles in August due to COVID-19, supply chain issues, and the continuing microchip shortage. More at Reuters.
+ As expected, Nissan has unveiled the latest generation of the Z sports car, which features a 400-hp twin-turbo V6, a true manual gearbox, and a base price of $40,000. More at Car and Driver. .
+ According to Stellantis, the Dodge Challenger and Charger will remain in production through 2024, overlapping with the upcoming Dodge electric performance vehicle. More at Autoblog.
+ As part of a multiyear deal, the IndyCar Series will return to the short oval at Iowa Speedway in 2022 with a weekend doubleheader event scheduled for July 23-24. More at NBC Sports.
+ Workers at a General Motors plant in Silao, Mexico have voted to end a collective bargaining agreement negotiated by an old-guard union accused of corrupt tactics. More at The Detroit News.
+ Ford announced it is working on a performance electric crate motor called the Eliminator and plans to formally introduce it at the SEMA show in Las Vegas in November. More at The Drive.
+ Shares in the troubled electric vehicle startup Lordstown Motors dropped to a 52-week low of less than $5 per share after an annual shareholder meeting that lasted only 10 minutes. More at CNBC.
+ Top sales at this year’s Monterey Car Week auctions included a number of vintage Ferraris and Aston Martins, A Duesenberg J, and a 1963 Shelby Cobra 289 works car. More at Carscoops.
+ Michigan-based collector car insurer and event promoter Hagerty will merge with Aldel Financial and go public on the New York Stock Exchange with the symbol HGTY. More at the Detroit Free Press.
+ Alpine Formula 1 executive director Marcin Budkowski is calling on the FIA regulatory body to more strictly enforce its rules barring team technical collaborations. More at Motorsport.com.
Photo by Patrick Ernzen courtesy and copyright of RM Sotheby’s.
Review the previous Executive Briefing from August 16 here.
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