At $7.595 million, this 1963 Ferrari 250 GT Berlinetta at the Gooding and Company sale was the top seller of Arizona auction week. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ General Motors CEO Mary Barra offered little hope this week that new vehicles will be assigned to the Detroit-Hamtramck and Lordstown plants, which currently face closing. More at USA Today.
+ The ongoing partial shutdown of the federal government could delay the introduction of a number of new vehicles from the automakers, including Volkswagen and Jeep. More at Automobile.
+ Porsche has confirmed that it will produce the Cayman GT4 Clubsport, a turn-key FIA rally car previously unveiled as a concept, with availability sometime in 2020. More at Autoblog.
+ The FIA has released the team entry fees for Formula 1 for the first time, with current title holder Mercedes paying around $4.8 million annually and Ferrari billed $3.88 million. More at Motorsport.com.
+ Authorities in Germany are studying a draft proposal that could institute speed limits on the Autobahn for the first time in an effort to curb carbon emissions. More at Reuters.
+ A 1993 Mustang Cobra R, one of 117 built, sold for $132,000 at the Barrett-Jackson Scottsdale sale, establishing a price record for Fox-body Mustangs at auction. More at Motor Trend.
+ Mick Schumacher, current European Formula 3 champion and son of Formula 1 legend Michael Schumacher, has been signed to the Ferrari Driving Academy. More at Racer.
+ France’s finance minister said there is no plan to remodel the Renault-Nissan alliance, pushing back against reports that Paris seeks to integrate the two firms. More at Automotive News Europe.
+ While prices for blue-chip, investment-grade classics remain firm, analysts found shifting trends in the collector car market at this past week’s Arizona Auction Week. More at Classic Cars.com Journal.
+ NASCAR Xfinity star Christopher Bell passed Kyle Larson on the final lap to win his third consecutive Chili Bowl Midget Nationals title in Tulsa, Oklahoma. More at Yahoo! Sports.
+ Fiat Chrysler Automobiles CEO Mike Manley says the next generation Dodge Challenger will combine reduced weight with a hybrid electric drivetrain. More at The Detroit News.
+ The Automotive Hall of Fame announced its inductees for 2019: Janet Guthrie, Sergio Marchionne, American Axle founder Richard Dauch, and financing innovator Pat Ryan. More at Hemmings Daily.
Review the previous Executive Briefing from January 18 here.
Photo courtesy of Gooding and Company.
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Sure why not. A finance and insurance guy in the HoF.
Is it me or an old Italian jalopy at near $8m is plain stupid. For me a million is too much.
“There are reports that GM might build the CT6 in China and import it after it ends its production in Detroit, but a spokesman for Cadillac would not confirm that report.”
Boy, wouldn’t that be a slap in the face to the US auto buyers!
GM should have been allowed to go belly up. They are spitting in the faces of the taxpayers that bailed them out.