Used car prices in the USA are headed through the roof, with the Nissan Leaf, Mercedes G-Class, and Chevy Camaro leading the increases. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ The Detroit carmakers and the United Auto Workers are in talks with the Biden White House to broker a deal to dramatically increase electric vehicle sales over the next decade. More at The Detroit News.
+ Daimler intends to keep a 35 percent stake in its truck division, Daimler Truck Holdings AG, when the truck unit is spun off following a shareholder vote on October 1. More at Reuters.
+ Jim Morrison, head of the Jeep brand for North America, says the hot-selling Ford Bronco is not a threat to the segment-leading Wrangler but healthy competition. More at The Drive.
+ The Aston Martin Formula 1 team says it will appeal the decision by series officials to disqualify second-place winner Sebastian Vettel for a fuel infraction at the Hungarian Grand Prix. More at Racer.
+ Volvo will incorporate 48-volt mild hybrid systems on a number of U.S. models in 2022, enabling regenerative braking for small but significant gains in fuel economy. More at Autoblog.
+ According to a study by website iSeeCars.com, the average used car purchase price in June rose $7,583, a 32.7 percent increase compared to the same month last year. More at Car and Driver.
+ Barrett-Jackson Holdings has acquired the Phoenix-based Collector Car Network, which includes the websites ClassicCars.com, AutoHunter, and ClassicCars.com Journal. More at ClassicCars.com Journal.
+ The Department of Transport in the United Kingdom has commissioned an industry consortium to look into the viability of using overhead wires to power long-distance trucks. More at CNBC.
+ A 1995 Supra Mk4 Turbo with only 7,000 miles on the clock sold for $201,000 on Bring A Trailer, signaling that the market for Japanese collector cars is not cooling. More at Road & Track.
+ Justin Marks, co-owner of Trackhouse Racing, which recently agreed to purchase Chip Ganassi’s NASCAR operation, says the team has some interest in running the Indy 500. More at Jayski.
Photo courtesy of General Motors.
Review the previous Executive Briefing from July 30 here.
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