This 1929 Murphy-bodied Duesenberg Model J disappearing top torpedo roadster is expected to bring up to $3.5 million at the RM Sotheby’s Arizona auction Jan. 28-29. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ S&P Capital analyst Efraim Levy predicted another year of record sales for the Detroit Three in 2016, led by continued growth for General Motors in China and Europe. More at Bloomberg.com.
+ Jim O’Sullivan, the head of Mazda’s North American operations since 2003, is retiring and will be replaced by new president and CEO Masahiro Moro. More at the Detroit Free Press.
+ Ferrari’s largest two investors, the Agnelli family and Piero Ferrrari, have signed a shareholder pact to retain a firm grip on the sports car maker after it separates from Fiat Chrysler Automobiles. More at Reuters.
+ United Auto Workers Local 42 in Chattanooga, Tennessee, filed charges with the National Labor Relations Board, alleging that Volkswagen has refused to bargain in good faith. More at The Detroit News.
+ Britain’s Channel 4 has taken over the terrestrial television rights of Formula 1 in a three-year deal starting in 2016, with the BBC “reluctantly” ending its agreement early. More at the UK Guardian.
+ Google and Ford reportedly will form a joint venture to produce autonomous cars, in an agreement to be announced at the CES show in Las Vegas. More at Yahoo! News.
+ Billionaire investor Carl Icahn sweetened his offer to acquire auto parts retailer Pep Boys with a promise to top any bid from Bridgestone Corp. up to about $1.01 billion. More at Crain’s Detroit Business.
+ U.S.-based auto parts maker LKQ has entered into an agreement to acquire Rhiag-Inter Auto Parts, a European aftermarket distributor, in a $1 billion deal. More at Automotive Business Review.
+ Force India Formula 1 driver Sergio Perez will partner with Kevin Buckler’s TRG team to enter a group of Mexican racers in an Aston Martin in the Rolex 24 at Daytona next month. More at Racer.
+ Next month’s RM Sotheby’s Arizona sale will feature a 1929 Duesenberg Model J Murphy roadster once owned by the Gray family, original investors in the Ford Motor Co. More at Hemmings Daily.
+ Porsche workers have agreed to key concessions including lower wages to secure production of the Mission E all-electric sports car at the automaker’s Zuffenhausen plant. More at ET Auto.
Read the previous Executive Briefing from December 21 here.
Photo by Darin Schnabel courtesy of RM Sotheby’s.
Doesn’t Porsche have some of the highest profit margins in the industry? Who’s raking in all that cash while assembly line workers are agreeing to concessions?
I figure the UAW is the least worry that VW has about right now.