Topping the sales chart at Gooding & Company’s annual Pebble Beach sale was this rare 1937 Bugatti Type 57SC Atalante that brought $10.35 million. Get all the latest industry news in the Executive Briefing.
Today’s headlines:
+ The California Air Resources Board voted to adopt sweeping regulations to require all new passenger vehicles sold in the state to be electric or plug-in hybrids by 2035. More at Reuters.
+ Ford announced it will eliminate around 3,000 white-collar jobs as it attempts to lower costs and make the transition from internal combustion to electric vehicles. More at NBC News.
+ Prices for used electric vehicles jumped 54 percent in July compared to the same month last year, far outpacing the price gains for used internal combustion vehicles. More at Autoblog.
+ NASCAR driver Kurt Busch said he he will not return to the driver’s seat in time for the opening round of the Cup playoffs as he continues to suffer post-concussion symptoms. More at CBS Sports.
+ Stellantis unveiled the 2023 Dodge Challenger Shakedown, the first of a series of specially equipped limited editions as the Challenger is set for discontinuation in 2024. More at Motor Trend.
+ Pat Ganahl, a writer and editor for numerous auto publications and the hot rod world’s leading historian, was killed in a crash of his vintage dragster at a track in Oregon. More at Autoweek.
+ Citing “significant material cost increases,” Ford has raised prices on the Mustang Mach-E EV by $3000 to $7900 as the order books are opened on the 2023 models. More at Car and Driver.
+ Nicola Materazzi, the renowned Italian automotive engineer whose credits include the Ferrari F40, the Lancia Stratos, and the Bugatti EB110, has passed away at 83. More at The Drive.
+ Gooding & Company’s annual Pebble Beach auction featured 26 cars that sold for $1 million or more, led by a 1937 Bugatti Type 57SC Atalante that brought $10.35 million. More at Hemmings Daily.
+ Formula 1 CEO Stefano Domenicali asserted that the series doesn’t need any more entries, casting doubt on the efforts of American Michael Andretti to launch a new team. More at Motorsport.com.
Photo courtesy of Gooding & Company.
Review the previous Executive Briefing from August 22 here.
The California regulation/mandate will likely have the same effect as the one from 20 years ago that any new vehicle had to average 40 mpg. Never mind the current lack of infrastructure to handle the increased electrical load.
RIP Too Tall Ganahl. I started reading Pat’s work when he resurrected Rod and Custom almost single handily. He had a style of writing that made you feel he was talking directly to you, not at you. Although he’s gone, his words will live on in the numerous magazine stories and books he wrote.