At $1.892 million, this 1956 Maserati A6G Spider was the top seller at the Gooding & Company Geared Online auction. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ Thanks to its profitable truck and SUV business, General Motors exceeded Wall Street’s expectations in the third quarter as net income rose 74 percent to $4.05 billion. More at CNBC.
+ British luxury car maker Bentley, owned by Volkswagen since 1998, announced that it will produce only hybrids and electric vehicles by 2026 and electrics only by 2030. More at Car and Driver.
+ Fiat Chrysler Automobiles is now taking orders on the 2021 Dodge Durango SRT Hellcat, which boasts 710 horsepower and an exclusive one-year production run. More at Autoblog.
+ Formula 1 teams will be banned from using 3D cameras and complex software systems to copy rival designs, avoiding a repeat of the “Pink Mercedes” controversy. More at Motorsport.com.
+ Ford’s U.S. sales fell 6.1 percent in October, dragged down in part by factory retooling required to produce the latsest version of its top-selling F-150 pickup. More at The Detroit News.
+ Gooding & Company ‘s Geared Online auction generated a 77 percent sell-through rate and total sales of $9.2 million, with three cars grossing more than $1 million each. More at Classic Cars.com Journal.
+ As part of its agreement with Unifor, the Canadian autoworkers’ union, General Motors will invest $1 billion in its Oshawa, Ontario plant and return pickup production there. More at Reuters.
+ To boost its technology capabilities, Ford has recruited Vijay Sankaran, former CIO at TD Ameritrade, to serve as the automaker’s chief software and information officer. More at the Detroit Free Press.
+ Voters in Massachussetts approved a state referendum to expand a 2013 right-to-repair law that gives private car owners access to data to perform their own repairs. More at The Drive.
+ Formula 1 will race in Saudi Arabia for the first time in 2021, with a night race scheduled for November on a street circuit in the coastal city of Jeddah on the Red Sea. More at Racer.
Photo courtesy of Gooding & Company.
Review the previous Executive Briefing from November 2 here.
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