MCG Executive Briefing for April 19, 2024

This 1952 Porsche 356 Pre-A will be offered at the Broad Arrows All-Porsche auction on April 27. Get all the latest auto industry news in the Executive Briefing.

 

Today’s headlines: 

 Under pressure from the U.S. government, Mexican authorities are refusing to offer the usual incentives to Chinese automakers to discourage them from building plants there. More at Reuters. 

 Led by Kentucky and West Virginia, 24 republican-controlled states have filed suit against the Environmental Protection Agency to block new, tougher emissions standards. More at AP News. 

 After 47 years at General Motors, most recently as executive chief engineer and vehicle line director for the Chevrolet Corvette, Tadge Juechter will retire at the end of the year. More at Autoblog. 

 NASCAR COO Steve O’Donnell says the series is “very close” to reaching a deal with its Cup charter teams, which have been seeking a greater share of the media revenue. More at Sports Business Journal. 

+   Ford has revealed the 60th anniversary edition of the Mustang, essentially an appearance package, which is due to appear in 2025 with production limited to 1,965 cars. More at Car and Driver. 

+   General Motors announced it will move its global headquarters from Renaissance Center in downtown Detroit to Dan Gilbert’s Hudson’s Detroit development next year. More at The Detroit News. 

+   Hourly employees at Volkswagen’s Chattanooga, Tennessee plant have started casting ballots to determine if they will accept representation by the United Auto Workers union. More at NPR. 

 Wholesale prices for used vehicles at auction declined by nearly 2 percent in the first half of April as the average pace of sales slowed following a burst of demand in March. More at CBT News. 

+   Broad Arrow Auctions’ All-Porsche Air|Water sale on April 27 in Costa Mesa, California will feature 57 select Porsches and 41 lots of Porsche-themed memorabilia. More at Old Cars. 

 Helmut Marko of Red Bull says Carlos Sainz has “a very lucrative offer from Audi that we can’t match or beat” in negotiations over the driver’s Formula 1 future post-2024. More at Motorsport.com.

Photo courtesy of Broad Arrow Auctions. 

Review the previous MCG Executive Briefing from April 15 here. 

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