At $1.46 million, this 1955 Mercedes-Benz Gullwing was among the top sellers at the Bonhams|Cars Goodwood sale. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Stellantis has paid a combined $190.7 million in fines for failing to meet U.S. fuel economy standards and owes another $457.8 million, according to U.S. government documents. More at The Detroit News.
+ Ford announced its Oakville Assembly Plant in Ontario, Canada, will assemble Ford Super Duty pickup trucks starting in 2026, altering an earlier plan to produce EVs there. More at Motor Trend.
+ Vehicle repossessions surged 24 percent in the U.S. in the first half of 2024 as more borrowers fell behind on their loans, which analysts attribute to higher payments and interest rates. More at The Drive.
+ After failing to win in four of the past Formula 1 events, Red Bull is now chasing the other teams rather than setting the pace, according to Red Bull driver Max Verstappen. More at Racer.
+ The share price of Volvo Cars rose sharply after the company reported a jump in annual operating profit for the second quarter, 28 percent greater than the same period last year. More at CNBC.
+ Auto supplier Autoliv of Sweden cut its full-year financial forecasts after lower sales led to second-quarter adjusted profit falling below expectations, sending its share price down. More at Reuters.
+ Bentley has announced a plug-in hybrid version of the Flying Spur sedan, sharing its hybrid system with the Continental GT Speed and offering 45 miles of range on battery alone. More at Autoblog.
+ Top sellers at the annual Bonhams|Cars Goodwood Festival of Speed sale included a 1928 Mercedes-Benz 36/220 S-Type and a 1955 Mercedes-Benz 300SL Gullwing coupe. More at Old Cars.
+ Serbia and the European Union have signed a deal to give the EU access to lithium and other raw materials mined in Serbia and strengthen their ties on production cooperation. More at World Auto Forum.
+ NASCAR veteran Cole Custer, who currently drives an Xfinity Series car for Stewar-Haas Racing, has been contracted to drive the Cup entry of the reformed Haas Factory Team. More at ESPN.
Photo courtesy of Bonhams|Cars.
Review the previous MCG Executive Briefing from July 19 here.
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